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Finland's Kone reported a smaller than expected 10% fall in first-quarter profit on Wednesday, with demand for its elevators and services strong in many countries despite the coronavirus outbreak.

Oil slumped to less than $16 a barrel on Wednesday, hitting its lowest since 1999, with the market awash with excess supply as the economic fallout from the coronavirus pandemic hammers demand for fuels.

Top asset manager BlackRock Inc, which has vowed to put more focus on climate issues, said that companies might give a lower priority to sustainability reports as they struggle with the COVID-19 pandemic.

Delta Air Lines Inc reported on Wednesday its first first-quarter loss in nine years and forecast a 90% decline in second-quarter revenue as the coronavirus crisis devastates air travel demand.

It may take European Union countries until the summer or even longer to agree on how exactly to finance an economic recovery from the coronavirus pandemic as major disagreements persist, an official with the bloc said on Wednesday.

Shoved aside by the coronavirus pandemic, Brexit is set to work its way into the headlines again as a June deadline for extending Britain's 11-month transition period turns currency traders' focus - and selling pressure - back to the pound.

The Trump administration on Tuesday gave Chevron Corp , the last major U.S. oil company still operating in Venezuela, until Dec. 1 to "wind down" its business in the OPEC member-nation and will allow it to conduct only severely limited operations there until then.

The South African unit of Toyota could see its production drop by around 15-20% in 2020, its president and CEO Andrew Kirby said on Wednesday.

State-owned Airports of Thailand Pcl said on Wednesday it expects the number of passengers passing through its airports to decline by 53% this year due to the outbreak of the new coronavirus.

The head of Fast Retailing Co , owner of fashion chain Uniqlo, criticised Japan's lack of coronavirus testing in a media interview, joining a chorus of executives questioning Prime Minister Shinzo Abe's handling of the coronavirus crisis.

Exxon Mobil Corp kicked off construction on Wednesday of its $10 billion petrochemical complex in south Chinese city Huizhou, state news agency Xinhua reported.

EU antitrust regulators have resumed their investigation into Boeing's bid to buy the jetmaking arm of Embraer , with a decision due by Aug. 7, a European Commission filing showed on Wednesday.

Stormy oil markets sent Brent prices crashing to their lowest since 1999 on Wednesday, though a stabilisation of some petrocurrencies and a bounce in European stocks gave investors something buoyant to cling to.

Equinor's head of exploration, Tim Dodson, will step down at the end of May in a planned leadership change, the Norwegian oil and gas company said on Wednesday.

Troubled fashion retailer Ted Baker on Wednesday named easyJet Chairman John Barton as its non-executive chairman, less than a month after appointing Rachel Osborne to the permanent role of chief executive officer.

Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.

Asian share markets were on the defensive on Wednesday as the floor fell out from under crude prices, sparking worries about further turmoil in the energy sector, already reeling from the heavy blow from global shutdowns.

Facebook's local servers in Vietnam were taken offline early this year, slowing local traffic to a crawl until it agreed to significantly increase the censorship of "anti-state" posts for local users, two sources at the company told Reuters on Tuesday.

Private equity and distressed situation specialists Apollo Global Management, Oaktree Capital Management and BGH Capital are among those that have expressed interest in restructuring Virgin Australia Holdings Ltd , five sources said.

Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.