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Bloomberg Oil refiners across the US are being forced to throttle back operations amid a historic plunge in gasoline demand and prices. Plants representing more than 10% of US fuel-making capacity have cut back. Exxon Mobil Corp has slowed rates at facilities in Texas and Louisiana, while others around Los Angeles and Philadelphia are taking similar action to stem a …

Bloomberg The global slump in oil prices amid the coronavirus outbreak will push Indian state-owned firms to sell some assets, according to Macquarie Infrastructure and Real Assets, and the world’s biggest infrastructure investor is already in line. “There is a fair bit of opportunity for the government to divest non-core oil and gas assets, like oil storage facilities, pipelines, transmission …

Bloomberg Electricity prices in Germany are falling faster than in other major economies in Europe as the impact of the coronavirus is seen hurting industrial demand. Industry makes up about 44% of German electricity consumption, more than in other European nations, and so its power use is likely to be one of the hardest hit by the coronavirus, according to …

Bloomberg Stocks clung to gains globally along with US equity futures on Wednesday while investors examined government rescue packages to counter the hit from the coronavirus, after one of the best days on Wall Street in a generation. Futures on the three main American equity indexes fluctuated before turning higher in the wake of March 25’s historic surge, after the …

Bloomberg Investment chiefs at two Indian life insurance companies are keeping money in stocks despite selling by overseas funds that has put the nation’s benchmark index on course for a record monthly decline. The S&P BSE Sensex has plunged 30% so far in March as the coronavirus-led wave of risk aversion has prompted foreign investors to dump local stocks at …

Bloomberg It is fair to say that short sellers have won this round. These investors, who typically bet on the price of an equity or asset going down, have made a killing amid the broader selloff that has roiled US financial markets for the past month. The time has now come to protect those profits before stocks start potentially rebounding. …

Bloomberg As the shortage of dollars sweeps the globe, cracks are starting to show up in Asia’s emerging markets, despite the hefty foreign-reserve cushions built up over the years. The squeeze on US currency is putting pressure on emerging Asia debt. Southeast Asian and Indian government and corporate payments are set to jump 67% in 2022 to $41.9 billion, according …

Bloomberg The amount of cash circulating in the euro area increased last week by the most since October 2008, in the latest sign that the coronavirus pandemic has sparked the biggest economic crunch at least since the global financial crisis. Cash jumped by almost 19 billion euros ($20 billion), according to European Central Bank data. The ECB’s total balance sheet …

Bloomberg Malaysia’s banks will offer broader loan deferrals that will involve 100 billion ringgit ($23 billion) of funds as the country seeks more ways to soften the pandemic’s impact on its economy. Banks will offer six-month deferrals for all loans held by individuals and small businesses and let people convert their credit card debt into a three-year term loan, the …

Bloomberg India’s central bank is weighing opening a new credit facility for banks aimed at boosting their lending to mutual funds, which have been hit by a flood of redemptions, according to people familiar with the matter. The Reserve Bank of India and finance ministry are in favour of a proposal from the industry regulator to open a cash window …