The nightmare in the oil industry keeps getting worse. It's now facing the weakest oil price since the first term of President George W. Bush.
Inside oil-rich Saudi Arabia, Mohammed bin Salman is both feared and loved. in the past few days, the world has witnessed what his subjects have come to know.
The Bank of England (BoE) unexpectedly cut interest rates by half a percentage point to 0.25 percent on Wednesday in a move to bolster the United Kingdom's economy against disruption caused by the coronavirus outbreak.
The United Kingdom's new finance minister Rishi Sunak will pledge billions of pounds to fight the effects of coronavirus on Wednesday, and the Bank of England might add its firepower to the attempt to stave off the risk of a new recession.
The global business travel sector is expected to take a revenue hit of about $820bn, with China accounting for nearly half of the losses, as corporates curb travel plans in the face of the coronavirus epidemic, an industry body said on Tuesday.
Tata Steel Europe is planning to cut 1,250 jobs as it faces "challenging circumstances" and "needs to urgently improve profitability", Chief Executive Officer Henrik Adam said in an internal memo seen by Reuters news agency on Tuesday.
Page 34 of 73
