The Kurdistan region of Iraq halted oil exports on Friday, two days after an attack on a crude oil pipeline that caused disruptions.
IAG SA, parent to British Airways, lost $1.9 billion on fuel hedging in the third quarter, prompting an internal review of its hedging policies.
Typhoon Goni, the strongest typhoon of 2020, hit the Philippines on Sunday. More than a million people were evacuated from the south of the country’s main island.
Rain-heavy tropical storm Eta is expected to strengthen into a hurricane today before it targets Nicaragua and Central America. The storm ties the record for the most named storms in an Atlantic hurricane season.
A magnitude-7.0 earthquake struck off the coast of Greece and Turkey Saturday, flooding coastal areas and flattening some residential buildings.
Walmart is foraying into the fulfillment center business by turning four of its stores into “laboratories” that blend the digital side of the business with the brick-and-mortar operations.
Freightliner Werner Enterprises saw a strong rebound in demand in the third quarter, with profits up but revenues down 5% due to fleet capacity constraints and driver shortages, while USA Truck reported a return to profitability after suffering a loss in the year-ago period.
The spot freight market showed signs of leveling off from recent highs last week with load volumes down for the fourth consecutive week.
New York revised its rules for visitors, now requiring most arriving travelers to get COVID-19 tests before entering the state and again after a three-day quarantine. The new protocol replaces a 14-day quarantine requirement.
The Federal Reserve reduced the minimum amount of small- and mid-sized business loans it will back through its Main Street Lending Program from $250,000 to $100,000. The change is to encourage more use of the $600 billion in funds available through the program, of which businesses have only borrowed about $3.7 billion.
The former president of the New York Federal Reserve warned that the central bank may be running out of methods to prop up the economic recovery, with interest rates still at historic lows and other options unavailable.
The Eurozone economy performed better than expected in the third quarter, with GDP rising by 12.7% from the second quarter. However, recently announced lockdowns in many countries threaten the recovery through the winter.
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