Saudi Arabia is holding no talks with Russia on striking a deal to create a balance in the global oil market, the kingdom said on Friday, even though there is pressure from the United States to prevent a price rout of oil with the fall in demand because of the coronavirus pandemic and amid efforts...

The lockdowns in countries all across the world to combat the spread of the deadly coronavirus pandemic has dashed oil demand causing a huge slump in global refinery business even as the first news of shutdown of oil refineries emerge from India and Europe on Friday.   Force majeure was...

While economists and analysts agree that the United States economy has slipped into a recession, they are wondering how much worse can the situation get.   An entire generation of Americans was severely impacted by the Great Depression that started in 1929 with a crash of the stock market...

European Union leaders gave themselves two more weeks to work out details for providing support for their economies that have been hit by hard by the coronavirus pandemic as the leaders could not come to an agreement on Thursday about how much should the support amount be. The dispute about the...

The G20 countries will not limit themselves to easing monetary policy and will invest a total of about $ 5 trillion in support of national economies, reads a communiqué of a remote meeting of heads of informal associations. The largest package is about to be approved by the US Congress. In total, $...

Thousands of Americans have been laid off because of closure of businesses due to the massive spread of the coronavirus pandemic as the government imposed strict restrictions on businesses in an effort to slow down the spread of the pandemic.   The massiveness of the layoffs in the country...

The coronavirus pandemic and the oil war between Saudi Arabia and Russia resulted in a huge excess of supply over demand in the global energy market. After a landslide in energy prices, the US-oriented oil and gas industry in Canada found itself in a state of crisis and so required government...

The International Monetary Fund (IMF) said on Monday that a global recession will take place in 2020 because of the coronavirus pandemic and the economic hit of the virus all over the world will be worse than the recession that was seen during the 2008-09 global financial crisis. However the IMF...

In this extraordinary time when the world is dealing with coronavirus outbreak, Wells Fargo decides to help the strain on its customers besides boosting its charitable donation. On Friday, March 20, 2020, Wells Fargo & Co stated that due to the emergency situation of coronavirus outbreak, it is...