Oil falls as Saudi, UAE plan for higher output capacity


LONDON (Reuters) – Oil prices fell on Wednesday after Saudi Arabia and the United Arab Emirates announced plans to boost production capacity and OPEC and the U.S. Energy Information Administration (EIA) slashed oil demand forecasts because of the coronavirus outbreak. Brent crude was down $1.01, […]

Telefonica, TIM plan joint bid for Oi's mobile business in Brazil


BRASILIA (Reuters) – Shares in Telefonica Brasil SA (VIVT4.SA) and TIM Participações SA (TIMP3.SA) rose in the morning trading as both companies said they are planning a joint offer to buy the mobile unit of bankrupt Brazilian carrier Oi SA (OIBR3.SA). The move comes months […]

Stocks gain after emergency BoE cut adds to stimulus hopes


LONDON (Reuters) – European stocks rose on Wednesday after the Bank of England joined other central banks in cutting interest rates, raising hopes for more co-ordinated monetary and fiscal stimulus to counter the economic shock from the coronavirus outbreak. The surprise move from the BoE […]

Wall Street jumps at the open on stimulus hopes


(Reuters) – U.S. stock indexes opened more than 2% higher on Tuesday as hopes of coordinated policy easing to avert a global recession calmed investor nerves a day after the biggest market rout since the financial crisis. The Dow Jones Industrial Average .DJI rose 601.98 […]