Reuters Business News

Emaar Properties , the largest listed developer in the United Arab Emirates, has suspended work on major projects in Dubai, sources familiar with the matter said, as the coronavirus pandemic exacerbates a real estate slowdown in the business hub.

The world's biggest economy won't be open for business by Easter, as U.S. President Donald Trump had hoped, but the second biggest economy may come close. How China fares offers a guide to other countries when their coronavirus lockdowns lift.

Stocks jumped on Monday as investors were encouraged by a slowdown in coronavirus-related deaths and new cases, while oil prices skidded after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive.

Rolls-Royce is scrapping its targets and final dividend to shore up its finances as the British aero-engine maker's customers around the world ground planes due to the coronavirus pandemic.

Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.

French carmaker and Peugeot-owner PSA announced on Monday a further 3 billion euros ($3.3 billion) worth of loans to strengthen its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.

BMW said on Monday that group sales dropped by 20.6% to 477,111 vehicles in the first quarter as the outbreak of coronavirus took its toll and many retail outlets temporarily closed.

Troubled hospital group NMC Health said on Monday it is in talks with Abu Dhabi Commercial Bank , seeking to convince it to withdraw an application that the lender had filed proposing that NMC be placed under administration.

Oil prices slipped on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand.

Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases.

Oil prices slipped more than $1 a barrel on Monday, after the world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand.

Engineers at Tesla Inc showed a prototype for a ventilator on Sunday evening in a video published on the company's YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages.

Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases.

Wall Street analysts and investors see a risk that stocks could retest recent lows in the coming days or weeks as they worry about the spread of the virus and its impact on the economy, although some spot glimmers of light at the end of the tunnel.

The coronavirus-driven global shift to working from home is set to have boosted demand for Samsung Electronics' memory chips from laptop makers and data centres, but first-quarter profits are likely to remain flat as the outbreak weakened consumer electronics sales.

British aero-engine maker Rolls-Royce will abandon its targets on profits, cash and deliveries, and suspend its dividend, as airlines around the world ground planes due to the coronavirus outbreak, the Financial Times reported late on Sunday.

Stelios Haji-Ioannou, the founder of easyJet Plc , has warned that he will not inject any fresh equity into the airline until it terminates a contract with Airbus SE for 4.5 billion pounds ($5.50 billion), according to a letter https://easy.com/wp/wp-content/uploads/2020-04-05-stelios-media-statement-on-easyjet-and-airbus-for-release-6april20-final.pdf posted on EasyGroup's website.

Wall Street analysts and investors see a risk that stocks could retest recent lows in the coming days or weeks as they worry about the spread of the virus and its impact on the economy, although some spot glimmers of light at the end of the tunnel.

Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday's trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production.

Private equity firm Silver Lake Partners is preparing to seek at least $16 billion from investors for its sixth flagship buyout fund, braving the economic uncertainty of the coronavirus outbreak, according to people familiar with the matter.