Ad giant WPP pulls dividend, buyback and outlook

FILE PHOTO: The corporate logo of WPP is seen in this picture from 2018, obtained July 12, 2019. WPP/Handout via REUTERS LONDON (Reuters) - WPP (WPP.L), the world’s biggest advertising company, said it was pulling its dividend and share buyback, and withdrawing its guidance for 2020 after it saw an increasing number of cancelations from…

Ford, GE to produce 50,000 ventilators in 100 days

DETROIT (Reuters) - Ford Motor Co said on Monday it will produce 50,000 ventilators over the next 100 days at a plant in Michigan in cooperation with General Electric’s healthcare unit, and can then build 30,000 per month as needed to treat patients afflicted with the coronavirus. Ford said the simplified ventilator design, which is…

China factory activity unexpectedly expands, but economy unable to shake off virus shock

BEIJING (Reuters) - Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that a durable near-term recovery is far from assured as the global coronavirus crisis knocks foreign demand and threatens a steep economic slump. FILE PHOTO:A worker walks past a steel factory in Beijing April 1,…

Oil price dips below $20 US a barrel — and Canadian oilsands crude is almost worthless

The benchmark price for a barrel of North American oil dipped below $20 US on Monday morning, the first time that's happened in 18 years. West Texas Intermediate was at one point changing hands for as low as $19.92 a barrel, down more than $1.50 on the day. The type of oil from Canada's oilsands is…