Saudi Arabia's state-run oil giant Saudi Aramco announced a drop in its 2019 profit of nearly 21% on Sunday, falling well below analysts' expectations just three months after selling shares to the public in a record-setting IPO.
Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, and also posted a plunge in profit for last year, missing forecasts in its first earnings announcement as a listed company.
A rush to safety amid a massive drop in stocks has stretched prices for haven assets, leaving investors fewer places to hide in the wake of a freshly-minted bear market.
Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company.
Oil giant Saudi Aramco on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production, and said it plans to "rationalize" capital spending in the wake of the coronavirus outbreak.
Israel plans to use anti-terrorism tracking technology and a partial shutdown of its economy to minimise the risk of coronavirus transmission, Prime Minister Benjamin Netanyahu said on Saturday.
American Airlines Inc said Saturday it plans to cut 75% of its international flights through May 6 and ground nearly all its widebody fleet, as airlines respond to the global collapse in travel demand due to the coronavirus pandemic.
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United Airlines Co said late Saturday it would begin cutting flights to the United Kingdom after Washington expanded travel restrictions to Britain and Ireland, and Southwest Airlines moved toward flight cuts as the coronavirus outbreak sapped demand.
With one of Wall Street's wildest weeks in recent memory now in the history books, investors are bracing for more uncertainty and big market swings ahead.
Southwest Airlines , one of the few U.S. airlines still flying a full schedule even as the spreading coronavirus has sapped demand, said on Saturday it was "seriously considering" cutting flights in the short term.
Britain told manufacturers to ramp up the country's production of ventilators and ordered private hospitals to prepare for an overspill of patients from the public health service as the death toll from coronavirus grew on Saturday.
Delta Air Lines plans to scale back more flights after the United States expanded travel restrictions to Britain and Ireland, it said, and Southwest Airlines was moving toward its first flight cuts as the spreading coronavirus saps demand.
Major sports events around the world that have been hit by the coronavirus outbreak: