Factbox: Retailers close stores around globe to curb coronavirus spread
Retailers have been closing stores around the globe to reduce the risk of transmission of the coronavirus, which has killed over 6,500 people and infected more than 174,000 while disrupting supply and production chains.
U.S. could start buying crude for Strategic Petroleum Reserve in two weeks
The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several months, an Energy Department source said on Monday.
Crude oil falls below $30 as coronavirus spreads
Brent and U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China’s factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
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.
Norwegian Air to cancel 85% of flights and lay off 90% of staff
Norwegian Air will cancel 85% of its flights and temporarily lay off 7,300 employees as a result of the growing coronavirus crisis that has strangled demand for air travel, the carrier said on Monday.
Big UK airlines ground most of their fleets to survive coronavirus
Britain’s big airlines said on Monday they would have to ground most of their fleets to survive the coronavirus crisis, with easyJet and Virgin – though not British Airways – appealing for government bailouts to save the industry from collapse.
Airlines count mounting costs of the coronavirus shock
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak. Several have scrapped flights and ditched financial forecasts.
Starbucks shifts to ‘to go’ format in U.S., Canada as virus spreads
Starbucks Corp has closed its dine-in areas and switched to a “to go” format for at least two weeks to help control the rapid spread of the coronavirus outbreak in the United States and Canada.
China’s airlines to cut international flights due to coronavirus: Global Times
Chinese airlines including Air China, China Southern Airlines and China Eastern Airlines are planning to reduce international flights in response to the coronavirus pandemic, the Global Times reported on Monday, citing unidentified sources.
Exclusive: UK supermarkets may cut services to stay open as coronavirus spreads – sources
Britain’s major supermarkets are working on plans to streamline their operations by cutting cafes, counters and other services to enable a depleted workforce to maintain basic provisions during the coronavirus outbreak, industry sources told Reuters.
