Europe stocks, U.S. futures sink as coronavirus quashes rebound
European shares fell again on Thursday, taking their cue from U.S. equity futures, which implied a lower open for Wall Street as cases of the coronavirus surged in the U.S.
European shares fell again on Thursday, taking their cue from U.S. equity futures, which implied a lower open for Wall Street as cases of the coronavirus surged in the U.S.
Oil rose on Thursday after major producers agreed on deeper output cuts to bolster prices as worries intensify over the fast-spreading coronavirus outbreak and its impact on the global economy and crude consumption.
Britain "stands ready" to support regional airports after the collapse of airline Flybe on Thursday, Kelly Tolhurst, a junior minister with responsibility for aviation, told parliament.
PetroChina has suspended some natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak.
Facebook Inc said on Thursday a contractor at its Seattle office has been diagnosed with the coronavirus and that it would shut the location through March 9.
Forget going on vacation. Taxpayers anticipate saving the money they get back from Uncle Sam, according to a study from CreditCards.com. Paying down debt comes in a close second.
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Tuesday it would stick to its spending plans even as its rivals trim costs.
Russia is prepared for a possible drop in oil prices should OPEC and its allies fail to reach an agreement over cutting supply at meetings in Vienna this week, Finance Minister Anton Siluanov said on Thursday.
The Iranian oil minister confirmed on Thursday that OPEC ministers had agreed an extra 1.5 million barrel per day (bpd) cut in oil production and that Iran was still exempt from the reduction.
OPEC agreed on Thursday to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak, but made its action conditional on Russia and others joining in.
Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
Coronavirus fears looked set to drive another steep drop for U.S. stock markets on Thursday after California declared an emergency, while airlines shares were hammered by an industry sales warning as the outbreak cripples travel demand.
Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could not immediately secure Russian support for the decision.
German airline group Lufthansa said on Thursday it is cancelling about 7,100 flights up to the end of March due to lower demand and the spread of coronavirus.
Russia's state carrier Aeroflot said on Thursday it would suspend its flights to and from Hong Kong amid fears over coronavirus.