Government, Business, Fuel

Oil Plummets in Worst Week Since 2008 Amid Coronavirus Panic

Persian Gulf oil platform 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.

Jackie Davalos | Bloomberg News
February 28, 2020
Government, Business

Geneva Auto Show Canceled as Switzerland Bans Large Events

Geneva auto show 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.

Jamey Keaten and Frank Jordans | Associated Press
February 28, 2020
Government, Business, Safety

Coronavirus 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. 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.

Shelly Hagan | Bloomberg News
February 27, 2020
Business

Peugeot Maker Sees Record Profit, but Coronavirus Clouds Horizon

Carlos Tavares 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, 2020
Government, Business, Fuel

Oil Dives After CDC Warns of Potential Virus Outbreak in US

Oil prices graphic

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.

Jackie Davalos | Bloomberg News
February 25, 2020
Business, Equipment

Deere 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. 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.

Laura Yin | Bloomberg News
February 21, 2020
Government, Business, Logistics

Veteran CEO Says Global Shipping’s ‘Perfect Storm’ to Pass

A container terminal in Hong Kong on Feb. 20. 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.

Krystal Chia | Bloomberg News
February 21, 2020
Business, Logistics

Maersk CEO Soren Skou Predicts ‘Sharp’ Rebound After Coronavirus Peaks

Shipping containers on a Maersk container ship. (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.

Christian Wienberg | Bloomberg News
February 20, 2020
Government, Business, Logistics

WTO: 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. 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.

Brendan Murray | Bloomberg News
February 18, 2020
Government, Business, Logistics

Thousands of Frozen Meat Containers Pile Up at Chinese Ports

A container ship sits anchored at the Yantian International Container Terminals in Shenzhen, China. 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

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