Stocks tumble as coronavirus cases rise rapidly outside China
Global equity markets tumbled and the dollar slid on Thursday as the coronavirus spread quickly outside China, leading Britain to prepare for a significant increase in cases and France to say it appeared “inevitable” the outbreak would become an epide…
OPEC raises stakes with Russia, seeks biggest oil cut since 2008 crisis
OPEC pushed on Thursday for a bigger-than-expected oil output cut to support prices that have been hit by the coronavirus outbreak, effectively presenting its non-OPEC partners with an ultimatum to back the move or face a price collapse.
Boeing 737 MAX certification flight could come within ‘a few weeks’: FAA administrator
U.S. Federal Aviation Administration chief Stephen Dickson said on Thursday he thinks a certification test flight for the Boeing 737 MAX – a key milestone for the return of the grounded plane – could come soon.
Airlines suspend flights due to coronavirus outbreak
Airlines have been suspending flights or modifying services in response to the coronavirus outbreak.
Airlines face $100 billion-plus virus hit, discounts ‘wouldn’t do any good’
The coronavirus epidemic could rob passenger airlines of up to $113 billion in revenue this year, an industry body warned on Thursday, while the head of Southwest Airlines said a drastic drop-off in travel demand seemed fear-driven, similar to the fee…
OPEC to recommend to OPEC+ extending new cuts to end of 2020: statement
OPEC ministers said on Thursday they would recommend to OPEC+, a group that includes Russia, that additional oil production cuts of 1.5 million barrels per day (bpd) run until the end of 2020 rather than just during the second quarter.
Southwest Airlines sees first-quarter revenue hurt 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.
Oil slides as demand worries overshadow OPEC deal to deepen supply cuts
Oil prices fell on Thursday as the coronavirus epidemic showed no signs of slowing, feeding worries about the global economy and prompting investors to sell more risky assets like stocks and crude oil and park money in safe havens.
‘9/11-type feel’ to airline demand drop over coronavirus: Southwest CEO to CNBC
The drop-off in air travel demand following the spread of coronavirus cases feels more driven by fear than economics, similar to 9/11, Southwest Airlines Co Chief Executive Gary Kelly told CNBC on Thursday.
Coronavirus boosts Wall Street trading, easing pain from lower rates
Market volatility related to the coronavirus has provided a welcome boost for Wall Street banks’ trading businesses, helping to offset the much-bigger drag of lower interest rates on lending profits, analysts said.
