On Monday, oil prices fell by nearly 30% after Saudi Arabia slashed oil prices and set plans for a significant increase in crude production from April. Following the Saudi move, oil prices fell by as much as a third after… Read More ›
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Passenger airlines industry could lose up to $113 billion revenues in 2020 because of Coronavirus: IATA
On Monday, in a statement the Airports Council International (ACI) Asia-Pacific stated, airport passenger traffic in the Asia-Pacific region is likely to shrink by 24% due to China’s coronavirus, thus causing a loss of $3 billion in airport revenues. Cancellation… Read More ›
Gold prices touch $1700 per ounce for the first time in 7 years
On Monday, for the first since late 2012, gold prices surged past $1,700 per ounce levels following a widening China’s coronavirus outbreak worldwide even as crude oil prices along with equities touched new lows as investors scurried for safe havens…. Read More ›
Oil Prices Tumble After Russia-OPEC Talks Break Down
A disagreement between OPEC and Russia over further and deeper coil production cuts resulted in the two parting ways after three years of working together to reduce oil production so that global oil prices could be shored up. The latest… Read More ›
Will compensate drivers & delivery people diagnosed with coronavirus: Uber Technologies
In a statement, Uber Technologies Inc said, it will offer compensation to drivers and delivery people who have either been diagnosed with the coronavirus or have been placed in quarantine for up to 14 days. Uber has already begun compensating… Read More ›
Tesla to sell longer driving range Model 3 vehicles in China
On Friday, China’s Ministry of Industry and Information Technology stated, Tesla Inc has secured an approval from the government to sell a longer-range Chinese-made model 3 vehicles in the country. These Model 3 vehicles will have a driving range of… Read More ›
‘Made in Germany’ aerospace and mechanical engineering contracts touch 5 1/2 year high
On Friday, as per a report from Germany’s Federal Statistics Office, industrial orders from Germany surged on bumper aerospace and mechanical engineering bookings, giving the manufacturing sector a big boost at the start of a quarter even as the global… Read More ›
JPMorgan’s CEO Jamie Dimon undergoes emergency heart surgery for acute aortic dissection
In a statement, JPMorgan Chase & Co stated, Jamie Dimon, its Chief Executive has undergone an emergency heart surgery and that two deputies have taken over the charge as recuperates. Dimon, 63, experienced a tear in his heart’s main artery,… Read More ›
Coronavirus having cascading effect on South Korean supply chains
China’s coronavirus is dealing blow after blow to South Korean multinational giant LG Electronics Inc, an Apple Inc supplier. The initial outbreak forced LG to shutter its China factory for almost three weeks to help contain the spread of the… Read More ›
Coronavirus outbreak in Asia-Pacific could erase $211 billion from combined economies
On Friday, in a statement S&P Global Ratings stated, if China’s coronavirus were to spread extensively in the Asia-Pacific region, it could wipe out $211 billion off the combined economies in the region with Japan, Singapore, Australia and Hong Kong… Read More ›
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