Moody’s cut the credit ratings of Chevron and Royal Dutch Shell by one notch, and cut the credit rating of French oil giant Total by two levels. Both Chevron and Shell were downgraded to Aa2 from Aa1. Moody’s cut Total’s rating from Aa1 to Aa3. Source: OilPrice
It allocated to ministries £2bn set aside in case the UK leaves on 29 March without MPs having accepted any deal.
Letters will be sent to 140,000 firms updating them on what they should do while 3,500 troops will be put on standby to help government departments. Source BBC
The Fed is widely expected to announce an interest rate rise – its fourth in a year – on Wednesday.
But with financial markets in turmoil and fears of recession growing, some critics are questioning the plan.
In a tweet, President Trump advised the Fed to “feel the market” and not to “just go by meaningless numbers”.
His remarks bring unprecedented pressure on the central bank as policymakers meet in Washington for a two-day meeting. Source BBC
France is extending the state guarantees for the Russian liquefied natural gas (LNG) projects Yamal LNG and the Arctic LNG 2 projects, Russian media quoted France’s Economy Minister Bruno Le Maire as saying after a meeting with his Russian counterpart Maxim Oreshkin in Paris. Source: Oil Price
