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.
Oil prices fell 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices.
Global stock markets tumbled and government bonds rallied on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown.
Russia will not back an OPEC call for extra oil output cuts and will only agree to extending existing curbs, a Russian source said on Friday, threatening to derail a plan by OPEC ministers for deeper reductions to cope with the coronavirus outbreak.
(This March 5 story corrects Reuters instrument code for 10-year U.S. Treasury in paragraph 14 to "US10YT=RR", from "US10YR=RR")
Nissan is pushing on with plans to build its new Qashqai sports utility vehicle at its British factory despite warnings over Brexit, announcing on Friday a 52-million pound investment in a new press line at the site.
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 , the country's largest lender, will take a 49% stake in Yes Bank , the Reserve Bank of India (RBI) said late on Friday as it laid out a plan for the rescue of the troubled private lender.
OPEC's plans for deep and prolonged oil cuts were derailed on Friday as non-OPEC Russia refused to support the move arguing that it was too early to predict the impact of a coronavirus outbreak on global energy demand, sources told Reuters.
The U.S. trade deficit narrowed more than expected in January as imports declined, and further decreases are likely as the coronavirus outbreak disrupts the flow of goods and services.
U.S. employers maintained a robust pace of hiring in February, giving the economy a strong boost as it confronts the coronavirus outbreak that has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
The Federal Reserve will cut U.S. interest rates by 25 basis points later this month but it is a close call, according to a Reuters poll of economists who have substantially raised their forecasts for the chances of a recession following the coronavirus outbreak.
Women have made great strides in the workforce. Yet for many, their retirement savings may still be lacking.
Odds are that most married women will outlive their male spouse. Here are five suggestions for widows struggling to get a grip on their finances amid the grieving process.
At a face mask factory just outside the South Korean capital of Seoul, workers are churning out 300,000 masks a day - and it's still not enough.