S&P Cuts Oil Nations Ratings
Several oil-producing nations woke up to lower credit ratings from S&P amid the latest oil price rout, Reuters reports, listing Oman, Nigeria, Mexico, Angola, and Ecuador among those downgraded and Continue Reading
Global Economic Fallout Grows as Coronavirus Cases Pass 600,000
Concerns about the financial toll of the coronavirus pandemic continued to grow as the number of infections globally topped 600,000 Saturday, with the International Monetary Fund warning of an economic Continue Reading
Dollar edges up but headed for biggest weekly fall since 2016
The dollar edged higher on Friday but remained on track for its biggest weekly decline in four years, as trillions of dollars worth of stimulus efforts by governments and central Continue Reading
U.S. consumer sentiment near three-and-a-half year low, spending sluggish
U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists’ expectations of Continue Reading
U.S. Car Sales Decimated By Coronavirus Crisis
If any company is bracing for the shock of falling U.S. auto sales, it’s got to be Group 1 Automotive. The company owns and operates 186 auto dealerships along with Continue Reading
Ford aiming to restart North American production beginning April 6
Ford is aiming to restart production at some of its North American plants as early as April 6, the company said Thursday. Ford said it is planning to resume production Continue Reading
G20 leaders to inject $5 trillion into global economy to fight coronavirus
Leaders of the Group of 20 major economies pledged on Thursday to inject $5 trillion in fiscal spending into the global economy to blunt the economic impact of the coronavirus Continue Reading
World Trade Rocked by Virus Sees Worst Collapse in a Generation
The global economy’s most abrupt and consequential shock in at least a generation is unfolding at ports and other hubs of international commerce as the U.S. and Europe struggle to Continue Reading
U.S. Equipment Orders Fell More Than Forecast in February
U.S. factories received fewer orders for business equipment than forecast in February, just before the coronavirus-related demand shock that will likely lead a massive pullback in corporate investment. Core capital goods Continue Reading
G7 ministers urge oil-producing nations to help stabilize world economy, amid price war
Finance officials from the G7 major industrial nations on Tuesday called on “oil-producing countries to support international efforts to promote global economic stability,” as the collapse in crude prices threatens Continue Reading