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Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the coronavirus outbreak, prompting it to cut its quarterly revenue outlook.

The new chairman of British retailer John Lewis warned on Thursday it could take up to five years to revive the employee-owned group hit by sliding profits, and that she would have to shut more shops.

Coronavirus fears looked set to drive another steep drop for U.S. stock markets on Thursday after California declared an emergency, while airlines shares were hammered by an industry sales warning as the outbreak cripples travel demand.

Oil rose on Thursday after major producers agreed on deeper output cuts to bolster prices as worries intensify over the fast-spreading coronavirus outbreak and its impact on the global economy and crude consumption.

Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil said on Tuesday it would stick to its spending plans even as its rivals trim costs.

HP Inc on Thursday rejected Xerox Holdings Corp's raised takeover bid of about $35 billion, saying that the offer still undervalued the personal computer maker.

Southwest Airlines Co on Thursday warned its first-quarter operating revenue would take a hit of up to $300 million from the coronavirus outbreak, prompting it to cut its quarterly revenue outlook.

OPEC agreed on Thursday to cut output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices amid an outbreak of coronavirus but made it conditional on Russia joining in, two OPEC sources said.

German fashion house Hugo Boss warned on Thursday that the coronavirus will have a significant impact on its first-quarter results, with sales falling particularly in Asia, but also in other key markets.

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.

Britain "stands ready" to support regional airports after the collapse of airline Flybe on Thursday, Kelly Tolhurst, a junior minister with responsibility for aviation, told parliament.

ProSiebenSat.1 Media has staked a $500 million bet on romance by buying U.S. dating app developer Meet Group Inc , but the deal was a turn-off for investors who sent the German broadcaster's shares down as much as 10% to a decade low.

PetroChina has suspended some natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, as a seasonal plunge in demand adds to the impact on consumption from the coronavirus outbreak.

Facebook Inc said on Thursday a contractor at its Seattle office has been diagnosed with the coronavirus and that it would shut the location through March 9.

Oil fell on Thursday as worries intensified over the fast-spreading coronavirus outbreak and OPEC ministers met in Vienna to seek Russian backing for deeper output cuts to bolster prices.

OPEC ministers are expected to approve on Thursday the outlines of a deal for a significant cut in oil production to shore up prices hammered by the coronavirus outbreak but they are still waiting for Russia to indicate whether it will back such a move.

As South Korea's coronavirus cases leapt above 5,000 this week, mask-wearing workers at a logistics center run by e-commerce firm Coupang Corp raced to disinfect trucks and load thousands of boxes of microwavable rice, disposable diapers and kitchen towels.

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.

ProSiebenSat.1 Media has staked a $500 million bet on romance by buying dating U.S. app developer Meet Group Inc , but the deal proved to be a turn-off for investors who sent the German broadcaster's shares down 10% to a decade low.

China's top gas importer PetroChina has declared force majeure on natural gas imports, including on liquefied natural gas (LNG) shipments and on gas imported via pipelines, following the coronavirus outbreak, four industry sources told Reuters.