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Updated: 4 years 27 weeks ago

Oil dives more than 4% after Russia rejects steeper OPEC+ cut

Fri, 03/06/2020 - 07:07
Oil prices slid more than 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices.
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Tesla wins approval to sell longer-range China-made Model 3 vehicles

Fri, 03/06/2020 - 07:00
Tesla Inc has secured Chinese government approval to sell longer-range China-made model 3 vehicles in China, the Ministry of Industry and Information Technology said on Friday.
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OPEC oil cut deal in trouble as Russia still not on board

Fri, 03/06/2020 - 06:57
Russia will not back an OPEC call for extra oil output cuts and will only agree to extending existing curbs, a Russian source said on Friday, threatening to derail a plan by OPEC ministers for deeper reductions to cope with the coronavirus outbreak.
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State Bank of India exploring range of rescue options for troubled Yes Bank: sources

Fri, 03/06/2020 - 06:16
State Bank of India , the country's largest lender, is exploring a wide range of rescue options for struggling Yes Bank Ltd including a complete buyout of its private-sector rival, two sources familiar with the matter said.
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India's Yes Bank plunges 60%, panicked depositors rush to withdraw funds

Fri, 03/06/2020 - 06:16
Shares in India's Yes Bank Ltd plunged 60% on Friday as panicky depositors rushed to withdraw funds after the central bank took control in a dramatic late-night move and limited withdrawals from the troubled lender.
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Oil dives more than 3% after Russia rejects steeper OPEC+ cut

Fri, 03/06/2020 - 06:11
Oil prices slid more than 3% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices in the face of a slump in oil demand because of the global coronavirus outbreak.
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Peugeot CEO Tavares says China strategy needs rethink

Fri, 03/06/2020 - 06:08
Peugeot boss Carlos Tavares said on Friday PSA and Fiat Chrysler (FCA) will need to review their strategy in China in order to boost sales after the closing of the merger between the two groups.
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Southwest Airlines sees first-quarter revenue hit on coronavirus fears

Fri, 03/06/2020 - 06:07
Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the new coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
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Iran's oil minister expects very difficult OPEC, non-OPEC meeting: Shana

Fri, 03/06/2020 - 06:03
Iran's oil minister expects a "very difficult" meeting in Vienna on Friday between OPEC and oil exporting countries that are not part of the group, including Russia, the Iranian energy news service Shana cited him as saying.
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Saudi Arabia delays crude OSPs on OPEC+ deal uncertainty

Fri, 03/06/2020 - 05:49
Saudi Arabia's state oil firm told buyers that is has delayed publishing its crude official selling prices (OSP) for April until after a meeting between OPEC and its allies, two sources with direct knowledge said.
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Russian source says Moscow won't back OPEC's call for deeper oil cuts

Fri, 03/06/2020 - 05:49
A Russian high-level source told Reuters on Friday that Moscow would not back an OPEC call for extra reductions in oil output and would only agree to extending existing OPEC+ cuts.
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OPEC seeks big oil cut in crunch talks with Russia amid virus outbreak

Fri, 03/06/2020 - 05:49
OPEC holds crunch talks with its allies on Friday after the group told Russia and others it wanted an additional 1.5 million barrels per day (bpd) of oil cuts until the end of 2020, saying a big move was needed to deal with the impact of coronavirus.
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World stocks succumb to virus as cases spread, disruptions grow

Fri, 03/06/2020 - 05:30
Global stock markets tumbled on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown.
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Oil drops 2% as steeper OPEC+ output cuts not yet agreed

Fri, 03/06/2020 - 05:26
Oil prices slid 2% on Friday on concerns that Russia may not agree to a steeper OPEC+ output cut to support prices and on the spectre of a prolonged economic slowdown due to the coronavirus outbreak.
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How Lipper Award-winning fund managers are playing coronavirus scare

Fri, 03/06/2020 - 03:58
Uncertainty over the economic impact of the coronavirus outbreak has prompted at least some winners of the U.S. Lipper Fund Awards to look for companies that can withstand a prolonged pullback.
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Exclusive: Tencent-backed WeDoctor invites banks to lead $1 billion Hong Kong IPO, sources say

Fri, 03/06/2020 - 03:56
WeDoctor will push ahead with a Hong Kong listing and invite pitches from investments banks next week to lead an IPO valuing the Chinese healthcare platform at up to $10 billion, two sources with direct knowledge of the matter said.
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China's first-quarter economic hit from coronavirus looking more severe: Reuters poll

Fri, 03/06/2020 - 03:35
The coronavirus likely halved China's economic growth in the current quarter compared with the previous three months, more severe than thought just three weeks ago and triggering expectations for earlier interest rate cuts, a Reuters poll found.
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EssilorLuxottica forecasts profit growth despite coronavirus impact

Fri, 03/06/2020 - 03:28
EssilorLuxottica expects continued profit growth this year after stronger 2019 results, saying on Friday the outbreak of coronavirus had not hit output at its Italian factories and its production in China was getting back to normal.
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Oil drops on demand doubts, fears that producer output cuts not yet agreed

Fri, 03/06/2020 - 02:40
Oil slid 1% on Friday as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices.
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India's Yes Bank plunges 35% as central bank takes control

Fri, 03/06/2020 - 02:39
Shares in India's Yes Bank dropped nearly 35% on Friday to their lowest in more than a decade, after the central bank took control and set a limit on withdrawals because of a serious deterioration in its financial position.
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