Markets fall as virus woes strike again
World markets fell on Wednesday as the coronavirus threat ensured an ugly start to the second quarter for equities and commodities.
Oil falls to $25 as oversupply fears mount with U.S. inventory rise
Oil slid to $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply concerns.
Glencore’s chrome joint venture in South Africa with Merafe declares force majeure
Glencore’s chrome joint venture in South Africa with Merafe Resources has declared force majeure on qualifying contracts after a nationwide lockdown forced operations to shut, a Merafe executive said.
China’s ports brace for second hit as virus spread wipes out exports
China’s ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country’s coronavirus lockdown as the global spread of the virus chokes off international demand.
Mother of invention: the new gadgets dreamt up to fight coronavirus
Driving to work at his factory to the west of London last week, designer Steve Brooks had coronavirus on his mind. What could he make that would let him open a door without touching the handle?
France’s Carrefour teams up with Uber Eats for lockdown deliveries
French supermarket retailer Carrefour and Uber Eats announced a new delivery service on Wednesday, aimed at helping Parisians buy essential goods and food during the nationwide lockdown triggered by the coronavirus crisis.
Oil skids as oversupply fears pile up with U.S. inventories growth
Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U.S. inventories and a widening rift within OPEC heightened oversupply fears.
Dollar rallies as investors brace for global downturn
The dollar rallied against riskier currencies on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.
Tariff pain turns to gain: U.S. computer, toy stockpiles help meet virus rush
As the coronavirus outbreak forced classes online, Boston Public Schools ordered 20,000 laptops and had them in hand in four days – an unusually fast turnaround made possible by a build-up of inventory prompted by the U.S.-China trade war.
Exclusive: KKR shelves $2 billion sale of Singapore-based Goodpack due to market slump: sources
KKR & Co has shelved a plan to sell Singapore-based Goodpack, which provides shipping containers and logistics services, after the coronavirus outbreak hit valuations, sources with knowledge of the matter said on Wednesday.
