 | | | | HP Inc on Thursday rejected Xerox Holdings Corp's raised takeover bid of about $35 billion, saying it undervalued the personal computer maker. | | | | | | Airlines have been suspending flights or modifying services in response to the coronavirus outbreak. | | | | | | The coronavirus epidemic could rob passenger airlines of up to $113 billion in revenue this year, an industry body warned on Thursday, while the head of a large U.S. airline said the drop-off in travel demand seemed driven more by fear than economics, similar to what happened after the disasters of Sept. 11, 2001. | | | | | | Portugal's flag carrier TAP canceled around 1,000 flights scheduled in March and April on Thursday after concerns about the coronavirus epidemic led to a fall in demand and said it envisaged an unspecified impact on revenues. | | | | | | OPEC agreed on Thursday to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak, but made its action conditional on Russia and others joining in. | | | | | | OPEC ministers said on Thursday they would recommend to OPEC+, a group that includes Russia, that additional oil production cuts of 1.5 million barrels per day (bpd) run until the end of 2020 rather than just during the second quarter. | | | | | | Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the new coronavirus outbreak, prompting it to cut its quarterly revenue outlook. | | | | | | Oil prices fell on Thursday as the coronavirus epidemic showed no signs of slowing, feeding worries about the global economy and prompting investors to sell more risky assets like stocks and crude oil and park money in safe havens. | | | | | | The rapid spread of coronavirus cases worldwide is complicating a standard strategy used by airlines when disease, disaster or conflict hit travel destinations: lower fares and redirect flights to trouble-free areas. | | | | | | The drop-off in air travel demand following the spread of coronavirus cases feels more driven by fear than economics, similar to 9/11, Southwest Airlines Co Chief Executive Gary Kelly told CNBC on Thursday. | | | | | |
