Exxon Mobil Corp. XOM-2.09% reported Friday that it swung to a first-quarter loss, as a result of a large market-related writedown, and revenue that fell 12%, as the COVID-19 pandemic significantly impacted demand, resulting in oversupplied […]
Boeing announced sweeping cost-cutting measures Wednesday after reporting a first-quarter loss of $641 million following the hit to the airline business from the coronavirus pandemic. The aerospace giant plans to reduce its workforce by 10 […]
The IMF approved US$3.4 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil […]
President Donald Trump has laid out new guidelines for U.S. states to emerge from a coronavirus shutdown in a staggered, three-stage approach meant to revive the U.S. economy even as the country continues to fight […]
The global oil demand will fall by a record amount this year as lockdown measures introduced to curb the coronavirus outbreak bring the economy to a virtual halt, the International Energy Agency (IEA) said Wednesday. […]
You are meeting here with Ms Kristalina Georgieva, IMF Managing Director, as she makes a presentation on the Outlook for the Global Economy and Policy Priorities to Overcome the COVID-19 Crisis. As prepared for delivery […]
Stocks in Asia traded lower Monday morning as the Organization of the Petroleum Exporting Countries and its allies reached an agreement on a record oil production cut. In Japan, the Nikkei 225 slipped 1.04% in early trade while the Topix […]
The Organisation of Petroleum Exporting Countries (OPEC) and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic and said they had an […]
Mexican President Andres Manuel Lopez Obrador said Friday that he agreed with U.S. President Donald Trump that the United States will make up for what Mexico cannot add to the proposed oil-production cut. (Gregory Bull/The Associated […]
Japan is committing nearly $1 trillion to try to protect its economy from the fallout from the coronavirus pandemic. Japanese Prime Minister Shinzo Abe on Monday announced a 108 trillion yen ($989 billion) relief package — a […]
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