Oil heads for steep weekly slide after coronavirus turmoil
Oil prices rose on Friday but headed for their third weekly loss as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.
Global oil supply to fall 6% by 2030 due to delayed projects: data
Global oil supplies may be 6% less than expected by 2030 because of delays to investments by energy companies in response to falling crude prices due to the coronavirus crisis, data from energy analysts at Rystad showed.
AmEx quarterly profit plunges 76%
Credit card issuer American Express Co posted a 76% drop in first-quarter profit on Friday, as it set aside $2.6 billion to cover potential losses stemming from the coronavirus outbreak.
Eight Thai airlines seek $770 million government assistance
Thailand’s budget and full-service carriers are seeking soft-loans worth 25 billion baht ($770.65 million) from the government to support their businesses amid the coronavirus outbreak, an airline executive said on Friday.
Burberry will not take British state crisis cash to pay staff
Luxury brand Burberry will pay all its staff globally even if they are unable to work due to coronavirus crisis store or site closures, adding on Friday it will not tap a government support scheme in Britain.
Big Oil investors to look past earnings pain and focus on dividends
Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices.
Futures rise at the end of stormy week
U.S. stock index futures gained on Friday with bargain hunters returning at the end of a tumultuous week marked by a record collapse in oil prices, a mixed bag of quarterly earnings and growing fears of a severe economic slump.
Here’s why you can’t find frozen fries, while U.S. farmers are sitting on tons of potatoes
Shopper Lexie Mayewski is having a hard time finding frozen french fries in Washington, D.C.-area supermarkets in the wake of coronavirus-fueled stockpiling.
French court to rule on Amazon union spat as vendors struggle
A French court will on Friday decide whether to back Amazon’s appeal against an order to restrict the goods it can deliver, which led it to close its warehouses in France and left many small firms struggling to ship products.
Oil on course for steep slide in week of historic turmoil
Oil prices fell on Friday and headed for their third weekly loss running as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.
