Business and Tech

Oil prices slide on shattered demand, stocks mostly rise

AFP - 19h ago

Oil prices plunged Monday to an 18-year low as the number of novel coronavirus cases worldwide surged past 750,000, …

Gannett plans furloughs, pay cuts as media's virus woes mount

AFP - 20h ago

Gannett, the largest US newspaper publisher, said Monday it was making unspecified furloughs and pay cuts for its staff …

Amazon, Instacart workers protest over virus safety

Mar 30 2020

Amazon warehouse employees and Instacart delivery shoppers joined protests Monday to press safety demands, highlighting …

Italy extends lockdown until 'at least' April 12

Mar 30 2020

Italy on Monday extended an economically crippling lockdown until "at least" mid-April to stem coronavirus infections …

Shifting to ventilators will be a challenge for GM

Mar 30 2020

President Donald Trump on Friday ordered General Motors to manufacture critical care ventilators as the United States …

US retailer Macy's to furlough most staff

Mar 30 2020

Iconic American department store chain Macy's on Monday announced it would furlough most of its employees after the …

Rand hits record low after Moody's cuts S.Africa rating

Mar 30 2020

The South African rand plunged to a record low after Moody's downgraded the government's debt to junk status, before …

UAE loosens restrictions, but most popular apps still barred

Mar 30 2020

The United Arab Emirates on Monday loosened restrictions on a number of messaging applications as residents work and …

Oil prices slide on shattered demand, stocks rise

Mar 30 2020

Oil prices plunged Monday to an 18-year low as the number of novel coronavirus cases worldwide surged past 700,000, …

Expo 2020 Dubai organisers recommend one-year postponement

Mar 30 2020

Organisers of Expo 2020, a multi-billion-dollar world trade fair originally scheduled to open in Dubai in October, on …

Instacart, Amazon workers plan job actions over safety

Mar 30 2020

Grocery delivery startup Instacart's delivery workers were set to begin a work stoppage Monday to press safety demands, …

NGOs press drug firm Gilead over potential virus treatment

Mar 30 2020

More than 150 organisations and individuals on Monday urged US biotechnology firm Gilead not to enforce exclusivity over …

Facebook offers $100 mn to help virus-hit news media

Mar 30 2020

Facebook said Monday it was donating $100 million to support news organizations globally hurting from the coronavirus …

Oil prices slide on shattered demand, stocks scatter

Mar 30 2020

Oil prices plunged Monday as the number of novel coronavirus cases worldwide surged past 700,000, reinforcing worries …

EU's Gentiloni urges Germany to comprimise in 'coronabond' feud

Mar 30 2020

The European Union's economics commissioner said Monday that member states would never all agree to blanket mutualised …

Spotify says isolation ups interest in 'chill' music

Mar 30 2020

People spending more time cooped up in their homes to curb the spread of the new coronavirus have changed their daily …

EU announces virus help for Balkans after criticism

Mar 30 2020

The EU on Monday announced nearly 40 million euros to help Western Balkan countries deal with the coronavirus, after …

Saudi to raise oil exports to record levels as price war rages

Mar 30 2020

Saudi Arabia said on Monday it will raise its oil exports to a record 10.6 million barrels per day starting from May, …

German economy set for 'significant' recession: economists

Mar 30 2020

Measures to contain the coronavirus outbreak will slash German 2020 economic output by 2.8 to 5.4 percent before a …

Dubai Expo 2020 meets to consider postponement

Mar 30 2020

Stakeholders in Expo 2020, a multi-billion-dollar global trade fair set to launch in Dubai in October, are to hold talks …

EU members won't agree to pooled debt, Gentiloni warns

Mar 30 2020

The European Union's economics commissioner said Monday that member states would never all agree to mutualised debt, but …

Stocks, oil prices slide on shattered demand

Mar 30 2020

World stock markets mostly tumbled and oil prices plunged Monday despite fresh Chinese and Australian stimulus to shore …

Asian markets mostly down as virus fears grow

Mar 30 2020

Asian markets fell Monday following a steep drop on Wall Street as the jubilation from last week's enormous US stimulus …

Australian share index soars as virus infections slow

Mar 30 2020

Australian stocks enjoyed their biggest one-day gain ever on Monday as the rate of new virus infections slowed and the …

EasyJet grounds 'entire fleet' over coronavirus

Mar 30 2020

British airline easyJet on Monday said it had grounded its entire fleet because of the coronavirus pandemic but would …

China slashes rate, pumps $7 bn into market to counter virus

Mar 30 2020

China's central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected …

Coronavirus may prove virtual sports game changer

Mar 30 2020

With an unprecedented captive audience of three billion people in coronavirus lockdown virtual sports events are wooing …

Asian markets resume losses as stimulus joy fades

Mar 30 2020

Asian markets fell Monday following a steep drop on Wall Street as the jubilation from last week's enormous US stimulus …

Singapore eases monetary policy as virus slams economy

Mar 30 2020

Singapore's central bank eased monetary policy Monday as the city-state, seen as a bellwether for the health of global …

Gulf's massive migrant workforce fears virus limbo

Mar 30 2020

Millions of migrant workers across the Gulf face uncertainty as host countries lock down, employers withhold wages or …

Demand explodes for New York food banks

Mar 30 2020

New York food banks have become inundated with newcomers deprived of income since the near-total halt of business in the …

Trump ditches hopes of quick virus bounce-back for US

Mar 30 2020

President Donald Trump on Sunday abandoned his timetable for life returning to normal in the United States, extending …

Record virus deaths in Spain as world hunkers down

Mar 29 2020

Spain broke another national record of daily coronavirus deaths Sunday as more than 40 percent of the world's population …

Record virus deaths in Spain as world hunkers down for long haul

Mar 29 2020

Spain broke another national record of daily coronavirus deaths Sunday as more than 40 percent of the world's population …

US could take equity shares in coronavirus-hit airlines: officials

Mar 29 2020

The US government could take equity shares in airlines and other troubled but vital American corporations as it moves to …

Outrage in Germany as Adidas, H&M stop rent payments

Mar 29 2020

Global retailers including Adidas and H&M sparked outrage in Germany on Sunday after announcing they planned to stop …

Mafia primed to feast on Italy's virus devastation

Mar 29 2020

As Italy mourns thousands of coronavirus dead, and survivors brace for life in an economic wasteland, one rung of …

Why the novel coronavirus became a social media nightmare

Mar 29 2020

The biggest reputational risk Facebook and other social media companies had expected in 2020 was fake news surrounding …

Olympics delay a blow for virus-hit Tokyo hotels

Mar 29 2020

The shock postponement of the Tokyo 2020 Olympics has dealt a savage blow to Japan's hotels and tourism industry, …

Nextdoor, the network for neighbors, grows in age of social distancing

Mar 29 2020

There are offers to pick up groceries or medicine for neighbors, to share supplies, or walk people's dogs -- and even …

Privacy rights may become next victim of killer pandemic

Mar 29 2020

Digital surveillance and smartphone technology may prove helpful in containing the coronavirus pandemic -- but some …

Europe, US virus tolls surge as Trump reverses on New York lockdown

Mar 29 2020

The coronavirus death toll shot past 20,000 in Europe on Saturday, with Italy and Spain each reporting more than 800 …

Europe virus toll surges, Trump mulls quarantine of New York area

Mar 28 2020

The coronavirus death toll shot past 20,000 in Europe on Saturday, with Italy and Spain each reporting more than 800 …

Europe's virus toll surges but Wuhan cautiously reopens

Mar 28 2020

The accelerating death toll from the coronavirus epidemic sweeping the globe surged past 20,000 in Europe on Saturday, …

Moody's cuts South Africa's credit ratings to junk

Mar 28 2020

Moody's has downgraded South Africa's credit rating to junk status, piling more anguish on an economy already in …

Epidemic infects Europe with 'germ of division'

Mar 28 2020

The European Union has faced and survived a series of existential threats over the years but the coronavirus epidemic …

Trump signs $2 trillion recovery plan as US virus cases skyrocket

Mar 28 2020

President Donald Trump signed into law Friday the $2 trillion rescue plan to salvage a US economy crippled by the novel …

Hedge funds are pouncing on companies infected by coronavirus

Mar 28 2020

Hedge funds have lost billions of dollars as coronavirus has stalled the economy and sent Wall Street into a tailspin. …

Small businesses become endangered in virus-stricken New York

Mar 28 2020

As New York becomes the epicenter of the coronavirus outbreak in the United States, even die-hard businesses are …

Trump invokes defense powers to order GM to produce ventilators

Mar 28 2020

President Donald Trump issued a federal order Friday to force auto giant General Motors to manufacture ventilators, as …

IMF chief: 'Clear we have entered recession'

Mar 27 2020

The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help …

Fitch downgrades UK debt to AA-, outlook negative

Mar 27 2020

Fitch Ratings on Friday downgraded Britain's debt a notch and lowered the outlook to negative, citing the "significant …

Stock markets retreat as nervous investors pocket week's gains

Mar 27 2020

Stock markets on both sides of the Atlantic retreated Friday as investors banked profits from the week's rally sparked …

ECB asks banks to halt dividends over virus crisis

Mar 27 2020

The European Central Bank on Friday asked eurozone banks to freeze dividend payments "until at least October 2020" to …

Trump invokes Defense Production Act to force GM to make ventilators

Mar 27 2020

President Donald Trump issued a federal order Friday to force auto giant General Motors to manufacture ventilators, as …

Instacart gig workers threaten walkoff over virus safety

Mar 27 2020

A group claiming to represent gig workers for grocery delivery startup Instacart called for a walkout next week if the …

Google offers $800 mn to pandemic-impacted businesses, health agencies

Mar 27 2020

Google on Friday pledged $800 million worth of support in response to the coronavirus pandemic for health organizations, …

$2 trillion rescue plan passes US House, heads to Trump

Mar 27 2020

The US House of Representatives passed a historic $2 trillion rescue package Friday that injects cash into the pockets …

GM, Ford promise more ventilators after Trump criticism

Mar 27 2020

US auto giant General Motors announced a joint venture to rapidly produce much-needed ventilators Friday, shortly after …

Coronavirus squeezes pips out of orange juice market

Mar 27 2020

Coronavirus is squeezing the pips out of the orange juice market, with prices surging this week as consumers hope the …

Trump demands GM, Ford produce ventilators 'immediately'

Mar 27 2020

US President Donald Trump demanded Friday that automakers Ford and General Motors start making ventilators to help ease …

Brexit talks to go ahead despite virus spread: UK

Mar 27 2020

Britain said Friday that talks over a post-Brexit trade deal will take place next week despite Prime Minister Boris …

Europe's COVID-19 plan revives old disputes

Mar 27 2020

An EU summit to conceive an economic plan against the coronavirus impact instead unearthed the union's deep and historic …

$2 trillion rescue plan set to clear US House, go to Trump

Mar 27 2020

The House of Representatives was poised Friday to pass a historic rescue package that injects $2 trillion into the …

Danger, delays haunt hauliers facing virus lockdown

Mar 27 2020

"We're the only ones allowed to travel across Europe," says Florin Turcu, one of hundreds of truck drivers stuck at the …

Mnuchin pledges speedy delivery of cash to Americans

Mar 27 2020

US Treasury Secretary Steven Mnuchin on Friday pledged to quickly send cash to Americans as part of the a massive $2.2 …

International tourism to plunge up to 30% due to virus: UN

Mar 27 2020

International travel will likely fall by 20-30 percent in 2020 due to the novel coronavirus pandemic, putting millions …

Delays and shattered hopes: Uganda still waiting for oil riches

Mar 27 2020

It was the promise of oil -- billions of barrels of black gold, discovered locked beneath Lake Albert -- and the riches …

European stocks retreat at end of strong week for global equities

Mar 27 2020

European stock markets retreated Friday as investors banked profits from the week's strong rally in global equities as …

Coronavirus test kits pour off South Korean production line

Mar 27 2020

Every few seconds, a batch of white plastic cases shoots along a conveyor belt in a South Korean factory –- coronavirus …

Asian markets mostly up, dollar sinks on stimulus pledges

Mar 27 2020

Asian equities mostly rose and the dollar extended losses Friday, with traders buoyed by government and central bank …

India's central bank slashes interest rates as virus spreads

Mar 27 2020

India's central bank cut interest rates sharply Friday as the coronavirus outbreak deepens fears for Asia's third …

Korean Air chief defeats 'nut rage' sister's challenge

Mar 27 2020

The "nut rage" heiress who forced a plane to turn back over her macadamias failed Friday to wrest control of the family …

'Printing money': booming mask producers in China meet global demand

Mar 27 2020

As the coronavirus pandemic that originated in a central Chinese city has gone global, thousands of factories in China …

Northern Ireland sportswear factory scrubs up in virus fight

Mar 27 2020

As other factories fall silent due to the coronavirus, the din of production continues at O'Neills sportswear factory in …

Asian markets extend gains, dollar sinks on stimulus pledges

Mar 27 2020

Asian equities rallied again and the dollar extended losses Friday, with traders buoyed by government and central bank …

Oil storage buckles as virus saps demand

Mar 27 2020

Global oil storage capacity is under intense pressure because of booming output from Saudi Arabia and the United States …

Mideast airlines must tap handouts to survive virus crisis

Mar 27 2020

As coronavirus grounds airlines, plunging the industry into unprecedented crisis, Middle East carriers that have been in …

In the US, restaurants on the edge of failure over virus crisis

Mar 27 2020

It was supposed to be a happy time for Will, a musician in the Washington area. He was planning a wedding reception at a …

Fitch maintains US AAA rating despite coronavirus

Mar 27 2020

Fitch Ratings on Thursday reaffirmed the United States's AAA credit rating, even with the country facing rising …

Trump encourages cruise lines that want stimulus money to register in US

Mar 26 2020

US President Donald Trump on Thursday said he approved of American cruise lines incorporating themselves domestically if …

Eurozone given two weeks to find virus response

Mar 26 2020

EU leaders on Thursday gave eurozone finance ministers a fortnight to come up with a stronger response to the economic …

G20 leaders pledge $5tn in 'united' response to coronavirus crisis

Mar 26 2020

G20 nations pledged a "united front" Thursday in the fight against coronavirus, saying they were injecting $5 trillion …

Stocks brush aside record US unemployment surge

Mar 26 2020

Stocks shot higher Thursday as investors brushed aside a record surge in US unemployment benefit claims, instead …

US joblessness spikes as virus takes toll on businesses

Mar 26 2020

With streets in major cities empty, and shops and restaurants forced to close due to the coronavirus pandemic, there was …

Fox News slammed for talking hair, nails during pandemic

Mar 26 2020

A Fox News host sparked a firestorm of outrage Thursday by voicing concern over how women are going to get their hair …

Armani's Italian factories to make medical overalls

Mar 26 2020

Fashion brand Armani said on Thursday it would start making single use medical overalls for hospital workers at all its …

Armani's Italain factories to make medical overalls

Mar 26 2020

Fashion brand Armani said on Thursday it would start making single use medical overalls for hospital workers at all its …

Massive US economic rescue plan is only the start, experts say

Mar 26 2020

The US Senate overnight pushed through an emergency spending measure unlike any ever seen to help ease the economic …

Huawei flagship phone goes Google-free

Mar 26 2020

Huawei drove into its post-Google era Thursday with a flagship smartphone that uses none of the Android maker's apps now …

Embraer reports fourth-quarter loss, murky future

Mar 26 2020

Brazilian planemaker Embraer said Thursday the coronavirus pandemic has clouded the aviation industry's future to the …

Brexit trauma helps Ireland face COVID-19 crisis: PM

Mar 26 2020

Ireland's preparations for a potential no-deal Brexit have left the country better placed to face the coronavirus …

G20 leaders pledge $5trn, 'united' response to coronavirus crisis

Mar 26 2020

G20 nations pledged a "united front" Thursday in the fight against coronavirus, saying they were injecting $5 trillion …

Airbnb to offer housing to 100,000 crisis responders

Mar 26 2020

Airbnb said Thursday it would provide free or subsidized housing for up to 100,000 relief workers responding to the …

US stimulus plan: what's in the deal

Mar 26 2020

After days of negotiations, the Senate has passed a historic $2.2 trillion plan to stimulate the US economy as it faces …

France police turn to drones to help ensure virus confinement

Mar 26 2020

With millions locked down across France during the COVID-19 pandemic, overstretched police are struggling to ensure …

US stocks brush aside record unemployment surge

Mar 26 2020

US stocks shot higher at the opening bell on Thursday, brushing aside a record surge in unemployment benefit claims, as …

Print sprint: Bosnians 3D print face-shields to combat coroanvirus

Mar 26 2020

In small university labs and private homes across Bosnia, 3D printers are buzzing around the clock to produce face …

Saudi king urges coordinated G20 response to coronavirus crisis

Mar 26 2020

Saudi Arabia's King Salman on Thursday urged G20 leaders to take "effective and coordinated" action to combat the global …

Will coronavirus bump web traffic into the slow lane?

Mar 26 2020

With more than one third of the globe's population confined to their homes in an attempt to limit the spread of the …

Major stock markets retreat awaiting 'ugly' US jobs fallout

Mar 26 2020

European and leading Asian stock markets were back in the red Thursday as investors once again focussed on the …

Saudi chairs G20 crisis talks as virus threatens recession

Mar 26 2020

Leaders of the G20 major economies will hold an online summit Thursday in a bid to fend off a coronavirus-triggered …