Coronavirus wreaks financial havoc as infections near 100,000
Business districts around the world began to empty and stock markets tumbled on Friday as the number of coronavirus infections neared 100,000 and the economic damage wrought by the outbreak intensified.
State Bank of India exploring range of rescue options for troubled Yes Bank: sources
State Bank of India , the country’s largest lender, is exploring a wide range of rescue options for struggling Yes Bank Ltd including a complete buyout of its private-sector rival, two sources familiar with the matter said.
Southwest Airlines sees first-quarter revenue hit on coronavirus fears
Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the new coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
Iran’s oil minister expects very difficult OPEC, non-OPEC meeting: Shana
Iran’s oil minister expects a “very difficult” meeting in Vienna on Friday between OPEC and oil exporting countries that are not part of the group, including Russia, the Iranian energy news service Shana cited him as saying.
Russian source says Moscow won’t back OPEC’s call for deeper oil cuts
A Russian high-level source told Reuters on Friday that Moscow would not back an OPEC call for extra reductions in oil output and would only agree to extending existing OPEC+ cuts.
Saudi Arabia delays crude OSPs on OPEC+ deal uncertainty
Saudi Arabia’s state oil firm told buyers that is has delayed publishing its crude official selling prices (OSP) for April until after a meeting between OPEC and its allies, two sources with direct knowledge said.
Oil drops 2% as steeper OPEC+ output cuts not yet agreed
Oil prices slid 2% on Friday on concerns that Russia may not agree to a steeper OPEC+ output cut to support prices and on the spectre of a prolonged economic slowdown due to the coronavirus outbreak.
India’s Tata Motors warns of JLR profit hit due to coronavirus
Indian automaker Tata Motors warned on Friday of lower profit at its British luxury car brand Jaguar Land Rover (JLR) for the fiscal year as the coronavirus outbreak has hit sales in China.
World stocks succumb to virus as cases spread, disruptions grow
Global stock markets tumbled on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown.
OPEC seeks big oil cut in crunch talks with Russia amid virus outbreak
OPEC holds crunch talks with its allies on Friday after the group told Russia and others it wanted an additional 1.5 million barrels per day (bpd) of oil cuts until the end of 2020, saying a big move was needed to deal with the impact of coronavirus.
