Norwegian Air scraps 3,000 flights, plans layoffs due to coronavirus
Norwegian Air will lay off staff and cut around 3,000 flights as the spread of the new coronavirus outbreak sends shockwaves across the travel industry.
Coronavirus detected at Apple’s European HQ in Ireland
A worker at Apple Inc.’s European headquarters in Ireland has tested positive for coronavirus.
Oil jumps after rout on stimulus hopes, Russian signal on OPEC talks
Oil prices jumped by more than 7% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying, and Russia signaled that it may yet hold talks with OPEC about cooperation on outp…
U.S. airlines ditch 2020 outlooks, slash flights on virus hit
Leading U.S. airlines American and Delta suspended 2020 financial guidance on Tuesday and took drastic further measures to combat the impact of the coronavirus as the head of smaller rival Southwest took a 10% pay cut.
Saudi Arabia, Russia raise stakes in oil standoff
Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks.
Stock futures bounce as stimulus hopes dull recession fears
U.S. stock index futures jumped about 4% on Tuesday, clawing back dramatic losses recorded a day earlier on rising hopes for coordinated policy easing to avert a global recession from the coronavirus epidemic.
Intel says flawed EU antitrust decision underpins $1.2 billion fine
Intel on Tuesday said EU antitrust regulators got it wrong when they fined the chipmaker 1.06 billion euros ($1.2 billion) more than a decade ago for thwarting a British rival in a case that could affect Google and Qualcomm.
Exclusive: U.S. sanctions have idled a quarter of Iranian oil rigs
At least a quarter of Iran’s oil rigs are out of action as U.S. sanctions strangle the Islamic Republic’s vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil ind…
Oil jumps 10% after rout on stimulus hopes, Russian signal on OPEC talks
Oil prices jumped by around 10% on Tuesday a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with OPEC remained possible.
Stock markets and oil markets bounce after brutal flooring
Oil and equity markets staged solid rebounds on Tuesday after the previous day’s pummelling, with signs of co-ordinated action by the world’s biggest economies to cushion the economic impact of coronavirus helping pull investors out of panic mode.
