Business News

US economy expands 1.4% in fourth quarter; corporate profits fall

Despite 701,000 job cuts, US job market not in free fall, says Fed official

The US Labor Department reported on Friday that US employers cut 701,000 jobs in March and the unemployment rate soared to 4.4 percent

Apr 6, 2020

By IANS

Breaking: Crucial Opec-non Opec meeting on global output deal on Dec 10

Oil slips on oversupply fears, but stocks jump on virus slowdown hopes

Brent crude fell as much as $4 after Saudi Arabia and Russia postponed their meeting, initially scheduled for Monday to Thursday

Apr 6, 2020

By Reuters

Coronavirus

HSBC Hong Kong shareholders mull legal action over dividend scrapping

Shareholders of HSBS mull over conducting an extraordinary meeting with management and possible legal action against the bank's scrapping of dividend payments

Apr 5, 2020

By Reuters

Will oil price stay higher after Opec-Russia output reduction?

Saudi Arabia delays May crude prices until after OPEC+ meeting: Saudi source

Saudi Aramco typically issues its OSPs by the fifth of every month, setting trend for Iranian, Kuwaiti and also Iraqi prices and affecting more than 12 million bpd bound for Asia

Apr 5, 2020

By Reuters

Central bank of UAE adopts new anti-coronavirus steps by bringing stimulus to $70 billion

The coronavirus outbreak has claimed the lives over 64,000 people around the world and is spreading like wildfire

Apr 5, 2020

By IBTimes SG Desk

Coronavirus

Airlines must give refunds not vouchers amid coronavirus, warns Department of Transportation

Customers have been complaining that airlines are not refunding. Instead, they are issuing vouchers to use for travel at a later date

Apr 5, 2020

By R. Ghosh

Coronavirus

China's Guangxi suspends cross-border passenger transportation as imported coronavirus cases rise

The administration is also encouraging general public to report cases of illegal immigration with cash rewards between 3,000 to 10,000 yuan

Apr 4, 2020

By R. Ghosh

Coronavirus

OPEC+ meeting delayed as Saudi Arabia and Russia row over price collapse

Three OPEC sources mentioned the emergency virtual meeting planned for Monday is probably going to be postponed until April 8 or 9 to allow more time for negotiations

Apr 4, 2020

By Reuters

Tesla to cut off contractors of California, Nevada factories: Report

The carmaker is removing contractors at its vehicle assembly plants of Freemont, California, and at its Giagafactory outside the Reno, Nevada, as per a recently published report

Apr 4, 2020

By IBTimes APAC Desk

This small town around Mirandola is Italy's heartbeat in its coronavirus fight

Mirandola is home to around 100 medical companies like ventilator manufacturer Medtronic, respiratory support group Intersurgical and Fresenius SE

Apr 4, 2020

By R. Ghosh

Coronavirus

3M to churn out more face masks, respirators after Trump slams company

The US President on Thursday had said that if 3M fails to follow ramp up production of ventilators and masks, it "will have a big price to pay"

Apr 3, 2020

By R. Ghosh

Coronavirus

Investors monitor stock market prices in Kuala Lumpur

Global stocks fall as business signals hit from pandemic, oil grinds higher

A number of companies flagged a hit to business from COVID-19 pandemic, foreshadowing a deeper earnings recession ahead of the reporting season

Apr 3, 2020

By Reuters

China coffee chain stocks plummet after alleged fake sales figures

Luckin Coffee, a chain from China, has lost around 75.6 percent of its stock value as of Friday after allegations of fake sales figures caused an internal investigation

Apr 3, 2020

By IANS

Oil falls on scepticism over Trump's Saudi-Russia output deal

The US president Trump said the two countries could cut output by 10 to 15 million bpd - an unprecedented amount representing 10 percent to 15 percent of global supply

Apr 3, 2020

By Reuters

Coronavirus

audio-from-stolen-plane-reveals-final-moments-before-deadly-crash

Cathay Pacific to cut more flights

The airline told staff in a memo that it would make even more cuts to passenger flights by reducing its long-haul flights to two flights a week from three

Apr 3, 2020

By IANS

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