Bloomberg China’s economy could be heading for a worse-than-expected first-quarter contraction after the country’s manufacturing sector reported activity was at a record low in February due to the coronavirus outbreak. The manufacturing purchasing managers’ index (PMI) plunged to 35.7 in February from 50 the previous month, according to data released by the National Bureau of Statistics on Saturday. Even before …

Bloomberg The coronavirus outbreak that has sent markets worldwide on a collective nosedive is forcing US oil and gas explorers already burning through borrowed cash and failing to deliver returns to the brink of distress. Drillers’ fall from grace has worsened as shareholders increasingly demand they shift their focus to generating cash flow, instead of increasing production at any costs. …

Bloomberg The Trump administration is moving to sell drilling rights in the Arctic National Wildlife Refuge, Interior Secretary David Bernhardt said. “We are about to finalise a leasing plan for that,” Bernhardt said at the Conservative Political Action Conference in Maryland, without providing a more specific timetable. His declaration comes amid delays in standing up a sale — originally expected …