Oil prices plummeted around 30% on Monday after Saudi Arabia slashed its official selling prices and set plans for a dramatic increase in crude production next month, starting a price war even as spread of the coronavirus erodes global demand growth.
The Australian privacy regulator filed a lawsuit against Facebook Inc accusing the social media giant of sharing the personal details of more than 300,000 people with political consultant Cambridge Analytica without their knowledge.
The United States, the European Union, Canada and six European nations have held joint talks on concerns over Mexico's energy policy, sources told Reuters, as President Andres Manuel Lopez Obrador pushes for a bigger role for the state in the sector.
Hong Kong's Cathay Pacific Airways Ltd may fly only freight to Japan, and no passengers, if it retains some services whose cancellation it announced at the weekend over travel curbs prompted by a coronavirus, the airline said on Monday.
Global share markets tumbled on Monday as panicked investors fled headlong to bonds to hedge the economic trauma of the coronavirus, and oil plunged more than 30% after Saudi Arabia opened the taps in a price war with Russia.
Goldman Sachs cut its second- and third-quarter Brent price forecasts to $30 per barrel, citing the oil price war between Russia and Saudi Arabia and a significant collapse in oil demand due to the coronavirus that has killed more than 3,500 globally.
Amazon.com Inc on Monday is set to announce a new business line selling the technology behind its cashier-less convenience stores to other retailers, the company told Reuters.
Global share markets plunged on Monday as panicked investors fled to the safety of bonds and the yen to hedge the economic trauma of the coronavirus, while oil plunged more than 30% after Saudi Arabia opened the taps in a price war with Russia.
Britain's Tesco plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group for an enterprise value of $10.6 billion.
Shares in Saudi Aramco plunged 10% in opening trade on Monday, following a sharp drop in oil prices after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil production next month.
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand.
China's business and travel activities are steadily recovering after being disrupted by the coronavirus outbreak, but rapidly rising infections globally will pose a challenge to the country's broader economic resumption.
Japanese stocks banking on the success of the Olympics this year are taking a hit as the rapid spread of coronavirus is threatening cancellation of the world's biggest sporting tournament.
CP Group's $10 billion deal to buy Tesco PLC's 2,000 Thai retail outlets marks the end of a three-way tycoon tussle - and the beginning of the first engagement for Thailand's newly powerful antitrust watchdog.
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.