Australia has made the deepest dividend cuts globally this year, with more than $6 billion deferred or cancelled as companies conserve cash to ride out the coronavirus, turning foreign investors wary of the country's normally high-yielding firms.
What would seem like a sure win for elite investors - early bets on companies racing to make face masks, hand sanitizer and other coronavirus-related protective products - turned out to be a relatively unpopular strategy and one with surprisingly mixed results.
Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains.
Britain's Rolls-Royce said it would cut at least 9,000 jobs from its global staff of 52,000 to adapt to the much smaller aviation market that will emerge from the coronavirus pandemic.
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer.
Asian stocks struggled to extend the week's rally on Wednesday, and gold and bonds firmed, as a sceptical press report dented some hopes for a COVID-19 vaccine and concerns about the global recovery from the pandemic returned.
Budget airline Norwegian Air has secured a long-sought credit guarantee from Norway's government after completing a debt restructuring, it said on Wednesday, allowing it to survive in a slimmed-down version.
Britain will look at how it can help the employees of Rolls-Royce after the engine maker said it would cut at least 9,000 jobs from its global staff of 52,000 and what options the government has to support the sector, the justice minister said.
Rolls Royce could close some of its factories as part of a programme to cut 9,000 jobs in response to the crisis in the global aviation industry, its chief executive said on Wednesday.
Washington on Tuesday imposed sanctions on a China-based company it accused of acting on behalf of U.S.-blacklisted Mahan Air, the Treasury Department said, and denounced the Iranian airline's flights to Venezuela.
Rolls-Royce plans to cut at least 9,000 jobs, or more than a sixth of its workforce, in the latest blows to the UK economy and aviation industry dealt by the coronavirus pandemic.
A 2019 move by the Dutch government to buy a 14% stake in Air France-KLM was not in accordance with the country's laws, the Netherlands' Court of Audit ruled on Wednesday.
Lessors including China's BOC Aviation are now the biggest shareholders in Norwegian Air after the budget carrier completed a debt restructuring and secured a long-sought credit guarantee from Norway's government.
Germany gave itself new powers to veto hostile foreign takeover bids for healthcare companies on Wednesday, a measure designed to ensure a continuous supply of essential products during the coronavirus crisis.
European stocks slipped lower on Wednesday and gold gained as a sceptical press report undermined some hopes for a COVID-19 vaccine and concern about obstacles to a recovery from the pandemic returned.