Bloomberg Norway, western Europe’s biggest oil producer, joined international efforts to curb supply for the first time in almost two decades after prices plumbed new depths. The Nordic country will cut production by 250,000 barrels a day in June and 134,000 barrels in the second half of the year, the Petroleum and Energy Ministry said. That’s based on a reference ...

Bloomberg The French and Spanish economies plunged into record contractions and German unemployment climbed more than expected amid virus shutdowns that are pushing Europe into its deepest recession of the post-war era. France shrank 5.8%, the most since 1949, with Spain suffering a 5.2% drop in GDP. The figures highlight the dramatic effect of government-ordered shutdowns as just two weeks ...

Bloomberg UK homebuilders are starting to pull out of deals to buy land as they brace for a hit to demand. Inland Homes Plc, a firm that specialises in getting urban sites ready for construction, said on Thursday that three deals with large publicly traded homebuilders had been aborted because of the coronavirus pandemic. The cancelled deals show how developers ...