Oil down as rising U.S. inventories reawaken supply anxiety
Oil prices fell on Wednesday after a rise in crude and fuel stockpiles in the United States revived fears about oversupply and falling fuel demand in the world’s largest crude consumer amid the coronavirus outbreak.
Julius Baer faces investigation over ties to Argentine client: Neue Zuercher Zeitung
Swiss private bank Julius Baer faces investigation by watchdog FINMA over whether it followed correct procedures against money laundering in its ties with a former Argentine client, the Neue Zuercher Zeitung newspaper said on Wednesday.
Dollar falls as nerves set in before Fed policy decision
The dollar fell against most currencies on Wednesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields in a policy decision later in the day.
Stock rally loses steam as markets wait for Fed
Asia’s stock markets edged up to a fresh three-month high on Wednesday, with the dollar again under pressure but sentiment was largely cautious ahead of the U.S. Federal Reserve’s next move.
Exclusive: ECB prepares ‘bad bank’ plan for wave of coronavirus toxic debt – sources
European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.
Emirates to lay off more pilots, cabin crew on Wednesday, sources say
Emirates, one of the world’s biggest long-haul airlines, will lay off more pilots and cabin crew on Wednesday, sources said, in what would be a second day of redundancies.
With crisis response in place, Fed looks to long term
The Federal Reserve completes its latest policy meeting on Wednesday with attention turning from its massive response to the coronavirus pandemic and toward its still-developing plans to strengthen and lengthen a nascent economic recovery.
Oil falls as U.S. inventory rise revives oversupply concerns
Oil prices fell on Wednesday after data showed a rise in crude and fuel stockpiles in the United States, reviving concerns about oversupply and falling fuel demand in the world’s largest crude consumer amid the coronavirus outbreak.
Cathay Pacific shares hit three-and-half-month high after rescue package, outlook uncertain
Shares of Cathay Pacific Airways Ltd surged as much as 18.7% on Wednesday, reaching their highest level since Feb. 24, after the carrier announced a HK$39 billion ($5 billion) recapitalisation plan led by the Hong Kong government.
China factory gate deflation deepens on global demand slump
China’s producer prices fell by the sharpest rate in more than four years, underscoring pressure on the manufacturing sector as the COVID-19 pandemic reduces trade flows and global demand.
