Factbox: Oil products markets in turmoil as coronavirus infects demand
The oil products markets globally are caught between a rock and a hard place as the impact of ultra cheap oil, which should be a boon for refiners, is mitigated by record low prices for gasoline and jet fuel.
German retailers plead for state aid as stores close
Germany’s HDE retail association called on Wednesday for the government to give immediate state aid and tax relief to stop businesses going bust as stores closed to stem the spread of the coronavirus, losing 7 billion euros ($7.70 billion) per week.
UBS weathers coronavirus ramp-up with low losses: CFO
Swiss bank UBS has seen relatively low losses in its lending portfolio and feels comfortable with its liquidity despite market drops amidst the coronavirus pandemic, Chief Financial Officer Kirt Gardner said on Wednesday.
Emirates asks pilots to take unpaid leave, Qatar Airway lays off staff
Middle East airline Qatar Airways laid off about 200 Filipino staff in Doha this week and rival Emirates asked pilots to take unpaid leave as the coronavirus outbreak hammers demand for travel.
Factbox: Global oil, gas producers slash spending after crude price rout
Oil and gas companies around the world aim to slash spending as crude prices have plunged due to the impact of the coronavirus and a push by Saudi Arabia and Russia to ramp up output. [O/R]
U.S. crude hits 17-year low as lockdowns, restrictions spread
Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand.
Futures slide again as stimulus high fades
U.S. stock index futures tumbled on Wednesday, pointing to another volatile session for Wall Street on fears that even dramatic stimulus measures would not be able to avert a deep coronavirus-driven recession.
Toyota says plans to shut more plants in Europe, Asia due to coronavirus
Toyota Motor Corp on Wednesday said it planned to stop output at more vehicles plants in Europe and Asia as the spread of the coronavirus prompts countries to instruct non-essential businesses to suspend operations.
BlackRock stands by climate priorities, sees tougher shareholder votes
BlackRock Inc executives who set the asset manager’s influential proxy votes on Tuesday outlined tougher priorities tied to climate change and executive pay for the upcoming corporate annual meeting season taking place amid the coronavirus pandemic.
Stocks, oil sliding again in ‘irrevocably changed’ markets
Global stocks stumbled back into the red on Wednesday with Wall Street futures pointing to more losses ahead as fears over the coronavirus fallout eclipsed large-scale support measures rolled out by policymakers around the globe.
