A three-year honeymoon between OPEC and Russia ended in acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production.
Bargain-hunting investors are eyeing the shares of airlines, hotels, cruise lines and other companies that have been among the worst-hit by the coronavirus outbreak.
There is no more oil output deal between Russia, its allies and members of OPEC oil-producing countries, Russian Energy Minister Alexander Novak said on Friday, adding that the OPEC+ group of nations would continue to monitor the market situation.
Is it possible we may see a wave of corporate defaults at a time when interest rates are at record lows and falling? In Europe, where many rates are below 0%, signs of stress are emerging as the coronavirus outbreak hits companies' bottom lines. An index of credit default swaps on 75 high-risk European companies compiled by IHS Markit -- the iTraxx Europe Crossover - has surged to the highest in almost four years. The list is pretty diverse: airlines, retailers, carmakers and others all feature.
The death toll from an outbreak of coronavirus in Italy has risen by 49 to 197, the Civil Protection Agency said on Friday, the largest daily increase in fatalities since the contagion was uncovered two weeks ago.
The number of people in New York state who have tested positive for the coronavirus has increased by 11 to 33, governor Andrew Cuomo said on Friday.
JPMorgan Chase & Co Chief Executive and Chairman Jamie Dimon told senior colleagues he "feels really good" after undergoing emergency heart surgery, and his doctors are "happy" with his recovery so far, sources familiar with the matter told Reuters on Friday.
As the new coronavirus spreads and worldwide deaths linked to it top 3,400, global alarm is growing and has caused everything from consumer runs on face masks to mass school closures.
The United Nations has canceled meetings in Bonn, Germany, and elsewhere planned in the run-up to a crucial U.N. climate summit to be held in Glasgow in November due to the coronavirus outbreak, an official said on Friday.
Iraq has banned entry to travelers coming from France and Spain, the Foreign Ministry said on Friday, bringing the total number of countries on its entry ban list to 11 as it tries to stem the spread of coronavirus.
Morgan Stanley is shifting part of its London-based sales and trading staff to a secondary site near Heathrow airport to ensure its trading desks can operate smoothly through the coronavirus outbreak, two sources familiar with the matter said.
Standard Chartered Chief Executive Bill Winters is expected to stay at the bank until the conclusion of its current strategy, its Chairman Jose Vinals said in an internal memo seen by Reuters on Friday.
Hotel bookings have fallen by as much as 40% in some areas of Spain, the country's hotel federation said and flagged an overwhelming impact for the eurozone's fourth largest economy as anxiety about the coronavirus outbreak takes hold.
The U.S. telehealth industry, including market leader Teladoc Health Inc, is preparing for a surge in demand as public health officials aiming to contain the fast-spreading new coronavirus encourage use of alternatives to clinic visits and patients seek to avoid public spaces.
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.