Coronavirus fears looked set to drive another steep drop for U.S. stock markets on Thursday after California declared an emergency, while airlines shares were hammered by an industry sales warning as the outbreak cripples travel demand.
Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
OPEC agreed on Thursday to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak, but made its action conditional on Russia and others joining in.
The Iranian oil minister confirmed on Thursday that OPEC ministers had agreed an extra 1.5 million barrel per day (bpd) cut in oil production and that Iran was still exempt from the reduction.
Russia is prepared for a possible drop in oil prices should OPEC and its allies fail to reach an agreement over cutting supply at meetings in Vienna this week, Finance Minister Anton Siluanov said on Thursday.
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Tuesday it would stick to its spending plans even as its rivals trim costs.
Forget going on vacation. Taxpayers anticipate saving the money they get back from Uncle Sam, according to a study from CreditCards.com. Paying down debt comes in a close second.
Facebook Inc said on Thursday a contractor at its Seattle office has been diagnosed with the coronavirus and that it would shut the location through March 9.
PetroChina has suspended some natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak.
Britain "stands ready" to support regional airports after the collapse of airline Flybe on Thursday, Kelly Tolhurst, a junior minister with responsibility for aviation, told parliament.
OPEC agreed on Thursday to cut output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices amid an outbreak of coronavirus but made it conditional on Russia joining in, two OPEC sources said.
Southwest Airlines Co on Thursday warned its first-quarter operating revenue would take a hit of up to $300 million from the coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
HP Inc on Thursday rejected Xerox Holdings Corp's raised takeover bid of about $35 billion, saying that the offer still undervalued the personal computer maker.
The new chairman of British retailer John Lewis warned on Thursday it could take up to five years to revive the employee-owned group hit by sliding profits.
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Tuesday it would stick to its spending plans even as its rivals trim costs.