Adidas sees $1 billion coronavirus hit to China sales, Puma warns on profit
German sportswear makers Adidas and Puma warned on Wednesday of a major decline in sales in China due to the coronavirus and said while there were early signs of improvement there the impact had spread to other markets.
Uber may suspend accounts of riders, drivers who test positive for coronavirus
Uber Technologies Inc on Wednesday said it may temporarily suspend accounts of riders and drivers who have tested positive for the coronavirus or been exposed to it at the direction of health authorities.
BoE allows banks to tap capital cushion during coronavirus
The Bank of England told banks on Wednesday they can tap one of their capital buffers to maintain lending during the coronavirus epidemic, but warned they must not use the cash for bumping up bonuses or dividends.
Text: Bank of England cuts rates to 0.25% to bolster UK economy
The Bank of England cut its key interest rate to 0.25 percent on Wednesday and announced a raft of other measures to bolster Britain’s economy against disruption caused by the coronavirus outbreak.
Oil falls after Saudi Aramco asked to raise output capacity
Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day.
One person infected with coronavirus at Equinor’s offshore oil project
A worker at Equinor’s Martin Linge offshore oil and gas development has been diagnosed with the coronavirus and is being held in isolation, the Norwegian energy firm said on Wednesday.
Saudi Arabia has asked state agencies to implement big budget cuts: sources
Saudi Arabia has asked state agencies to submit proposals for cuts of at least 20% to their budgets in a fresh austerity drive to cope with a sharp drop in oil prices, four sources familiar with the matter said.
Saudi Aramco asked to boost oil output capacity to 13 million bpd: CEO
Saudi Aramco has been directed by the Ministry of Energy to raise its oil production capacity to 13 million barrels per day (bpd) from 12 million bpd now, the company’s Chief Executive Amin Nasser said in a statement on Wednesday.
Stocks wilt on growing doubts about U.S. virus response
Asian shares and Wall Street futures fell on Wednesday, as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
Uber may temporarily suspend accounts of riders, drivers with coronavirus: CNN
Uber Technologies Inc is considering temporarily suspending the accounts of riders and drivers who have tested positive for the coronavirus or have been exposed to it, CNN reported on Wednesday.
