Elon Musk, who called the panic because of the coronavirusstupid, lost $5.5 billion due to market instability, Forbes magazine reported. On March 6, the OPEC + countries were unable to agree either to change term and conditions of the deal to reduce oil production, or to extend it. As a result,restrictions on oil production in countries participating in the previous alliance will be liftedfrom...

Net profit of Saudi Saudi Aramco in 2019 fell by 20.6% to $ 88.2 billion due to lower oil prices and weaker production, the largest oil company in the world reported. "The decrease can primarily be explained by lower oil prices and production volumes, together with lower margins in oil refining and petrochemicals, as well as with $ 1.6 billion loss associated with the Sadara Chemical Company,"...

The net profit attributable to the shareholders of one of the world's largest manufacturers of sportswear and accessories, the German Adidas AG, grew by 16.1% in 2019 compared to the previous year and reached €1.976 billion, the company said in a press release. Diluted earnings per share increased to €10 from €8.42 in 2018. The company's revenue grew by 8%, amounting to €23.64 billion. At the...

Costco Wholesale Corp., an American club warehouse operator, reported a 12.1% increase in comparable sales in February and a shortage of certain products. The company associated this with the decision of buyers to stock up in bulk in case of coronavirus quarantine. In February, demand intensified on fears of an increase in the number of people infected in the United States. Sales could grow...

Uber will pay compensation to those taxi drivers and couriers who have been infected with the new coronavirus, CNN reported citing the company’s senior vice president Andrew MacDonald. “We support drivers and couriers who are diagnosed with COVID-19 or who are quarantined by health authorities. Drivers and couriers who find themselves in these situations will receive compensation for up to 14...

Japanese automaker Toyota has expanded recall of cars due to problems with the fuel pump to 1.8 million cars of Toyota and Lexus brands, the company said in its release. At the beginning of the year, on January 13, the company announced recall of 696 thousand cars produced in 2018-2019 for some models of Lexus, Toyota 4Runner, Camry, Highlander, Land Cruiser, Sequoia, Sienna, Tacoma, Tundra,...

Founded 11 years ago as one of Google’s small projects, Waymo is increasingly separating from its parent company. The developer of technologies for unmanned vehicles announced that it had invested $ 2.25 billion within the first round of attracting foreign investment. The independent Alphabet division announced that it does not intend to stop there and will continue to attract funds from outside...

Global stock markets have lost $ 6 trillion over the past six trading days, CNBC reports citing S&P Dow Jones Indices. Stock markets around the world are plunging into the correction zone, as investors fear that the outbreak of the coronavirus COVID-19 will develop into a pandemic. The US stock market has lost about $ 4 trillion in value over the past six trading days, said Howard Silverblatt,...

Dubai-based Emirates Group, managing one of the world's largest airlines, asked employees to go on vacation amid falling demand for flights. Due to the outbreak of coronavirus, the company suspended most flights to China and Iran, and also canceled flights to Saudi Arabia from more than 20 countries. Dubai Emirates Group employees are asked to go on leave due to the consequences of an outbreak of...