Coronavirus
Oil Plummets in Worst Week Since 2008 Amid Coronavirus Panic
Gas flares burn from pipes aboard an offshore oil platform in the Salman Oil Field near Lavan island, Iran. (Ali Mohammadi/Bloomberg)
Oil plunged to the lowest level in 14 months as panic from the fast-spreading coronavirus spiraled global markets deeper into losses for the seventh straight day.
February 28, 2020Geneva Auto Show Canceled as Switzerland Bans Large Events
Workers stop the preparation of the 90th Geneva International Motor Show on Feb. 28. (Salvatore di Nolfi/Keystone via AP)
GENEVA — The Geneva auto show was canceled after the Swiss government put an immediate ban Feb. 28 on all public and private events involving more than 1,000 people in order to halt the spread of the new coronavirus.
February 28, 2020Coronavirus Puts Speed Bump in Canada’s 2020 Economic Expansion
Workers wearing protective suits are reflected in a glass window of a clothing store in Seoul, South Korea, on Feb. 27. (SeongJoon Cho/Bloomberg News)
The global spread of coronavirus is lowering expectations that Canada’s economy will quickly emerge from one of its worst slowdowns in years, fueling bets the central bank will be forced to cut interest rates.
February 27, 2020Peugeot Maker Sees Record Profit, but Coronavirus Clouds Horizon
Carlos Tavares by Michel Euler/AP
PARIS — Despite record profits last year, Peugeot maker PSA Group said Feb. 26 it lost 700 million euros ($760 million) in China — and that was before the new virus hit a key manufacturing center.
February 26, 2020Oil Dives After CDC Warns of Potential Virus Outbreak in US
Oil deepened a three-day rout as panic over a coronavirus outbreak in the U.S. gripped investors and sent shockwaves through commodity, equity and debt markets.
February 25, 2020Deere Surges Most Since 2016 on Surprise Growth in Farm Recovery
Deere & Co. John Deere tractors are displayed during the World Agriculture Expo in California on Feb. 11. (Patrick T. Fallon/Bloomberg News)
Machinery giant Deere & Co. delivered an unexpected increase in earnings and maintained its annual outlook as early signs of stabilization in the U.S. farm sector offset a slowdown in construction. Shares rose the most in three years.
February 21, 2020Veteran CEO Says Global Shipping’s ‘Perfect Storm’ to Pass
A container terminal in Hong Kong on Feb. 20. (Paul Yeung/Bloomberg News)
The global shipping industry has run into very rough waters in 2020 as the virus crisis that has engulfed China and roiled commodity markets added to headwinds from a seasonal slowdown and poor weather. One chief executive who oversees a fleet of 55 vessels says there’ll be a comeback.
February 21, 2020Maersk CEO Soren Skou Predicts ‘Sharp’ Rebound After Coronavirus Peaks
(Freya Ingrid Morales/Bloomberg News)
A.P. Moller-Maersk A/S, the world’s largest container shipping company, is positioning itself for a strong rebound in two months, based on an expectation that the fallout of the coronavirus on global trade may soon peak.
February 20, 2020WTO: Slump in Global Goods Trade to Deepen With Coronavirus
A Maersk container ship sails in Yangshan Deep Water Port in Shanghai, China, in July 2018. (Qilai Shen/Bloomberg News)
Global trade in goods will likely stay weak in coming months as disruptions from coronavirus in China staunch the movement of international commerce already slowed by tariffs and uncertainty, according to the World Trade Organization.
February 18, 2020Thousands of Frozen Meat Containers Pile Up at Chinese Ports
A container ship sits anchored at the Yantian International Container Terminals in Shenzhen, China. (Qilai Shen/Bloomberg News)
Thousands of containers of frozen pork, chicken and beef are piling up at some major Chinese ports as transport disruptions and labor shortages slow operations, people familiar with the matter said.
February 18, 2020