Risk to Jobs Now ‘Unprecedented Since the Great Depression’
The world’s workers are reeling from the initial shock of the coronavirus recession, with job losses and welfare claims around the globe already running into the millions this week. With…
Business
Coronavirus Could Cost the Global Economy $2.7 Trillion. Here’s How
The coronavirus is going global, and it could bring the world economy to a standstill. An epidemic that began in the depths of China’s Hubei province is spreading rapidly. There…
Polish Billionaire Splashes $74.7 Million on London Home
Polish billionaire Dominika Kulczyk bought a house near Harrods department store in London for 57.5 million pounds ($74.7 million), in the latest sign that the city’s long-moribund luxury real estate…
Saudis’ Aramco raises $29.4B in world’s biggest initial public offering
Saudi Arabia’s Aramco raised $29.4 billion in the world’s largest initial public offering, surpassing the oil company’s original listing by $5 billion. Goldman Sachs Group Inc., one of the underwriters…
Crude oil prices top $70 per barrel as Middle East tensions escalate
Crude oil futures topped $70 per barrel in early trading Monday amid rising tensions in Iraq and Iran following the killing of a top Iranian military commander in Baghdad. Benchmark…
Oil price futures spike in wake of U.S. killing of Iranian general
Oil price futures surged Friday as the international markets reacted to the U.S. airstrike that killed top Iranian general Qassem Soleimani in Baghdad. The global benchmark Brent crude was up…
Saudi Aramco becomes first company worldwide to hit $2 trillion valuation
Saudi Aramco shares soared Thursday, making it the world’s first company to hit a $2 trillion value. The stock gained 10 percent for the second consecutive day trading on the…
OPEC nations, Russia look to finalize deal for oil production cuts
OPEC members met in Austria Friday for another day of negotiations over the size and shape of proposed cuts in oil production in response to worsening market conditions. The oil…
OPEC revises world oil demand downward in new monthly report
OPEC downgraded its 2019 world oil demand growth to 980,000 barrels of oil per day in a closely watched monthly report the organization released Thursday. The total is 40,000 barrels…
Russia oil reserves now worth $1.2 trillion after new discoveries
Russia’s oil reserves have nearly doubled in valuation since last year and now total $1.2 trillion, Moscow’s Ministry of Natural Resources and Environment reported Friday. The 88 percent increase is…
