General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the U.S. auto maker $1.1 billion.
French transport infrastructure company Alstom said on Monday it was in talks over a possible acquisition of the train business of Canadian company Bombardier , which could be worth $7 billion on an enterprise value basis.
NMC Health said on Monday its founder BR Shetty had resigned as the Emirati healthcare group’s joint non-executive chairman, leaving UK businessman H.J. Mark Tompkins as sole chairman.
NMC Health said on Monday its founder B.R. Shetty has resigned as the Emirati healthcare group’s joint non-executive chairman and H.J. Mark Tompkins will now continue as the sole chairman.
NMC, the United Arab Emirates’ largest private healthcare company, has been thrown into turmoil in the past month by doubts over its finances and the reporting of shareholdings of some its main owners including Shetty. Indian billionaire Shetty had already said last week he was “stepping back” from board duties after he informed NMC of a potentially inaccurate reporting of his holdings and began a legal review. …read more […]
Asian shares reversed losses on Monday and moved back toward a three-week top as China’s persistent efforts to cushion the blow from a coronavirus outbreak calmed nervous investors, although Japanese stocks faltered on growing recession risks.
(Bloomberg) — Thailand’s biggest manager of distressed assets has become the world’s top performer among peers this year partly because the novel coronavirus outbreak is wreaking havoc on the nation’s economy.Shares of Bangkok Commercial Asset Management Pcl — known as BAM — have surged 74% this year, and the firm has delivered the highest total return in the period among asset management companies with a market value of at least $1 billion, according to data compiled by Bloomberg. The stock has almost doubled since its listing in December, when the Bank of Thailand more than halved its stake.Investors are betting …read more […]
Bank of Japan Governor Haruhiko Kuroda said the central bank would consider additional rapid easing if the coronavirus outbreak significantly threatened Japan’s economy and price trends, the Sankei newspaper reported on Monday.
Dubai’s DP World , one of the world’s largest port operators, said on Monday it would delist and return to full state ownership in a deal valuing the company at $13.9 billion.
Oil prices were little changed on Monday as concerns of falling fuel demand caused by the economic fallout from the coronavirus outbreak in China was offset by expectations that output cuts from major producers will tighten crude supply.
Bank of Japan Governor Haruhiko Kuroda said the central bank would consider additional easing steps without hesitation if the coronavirus outbreak significantly threatened Japan’s economy and price trends, the Sankei newspaper reported on Monday.
Australia’s QBE Insurance Group said on Monday climate change could make some premiums unaffordable, especially for customers exposed to extreme weather events, and was a “material risk” for its operations across the globe.
Americans quarantined on the coronavirus-stricken ship Diamond Princess, site of the biggest outbreak outside China, departed Tokyo on flights arranged by the U.S. government. Image: Kyodo via AP Images …read more […]
Japan’s economy shrank at the fastest pace in almost six years in the December quarter as last year’s sales tax hike hit consumer and business spending, highlighting a fragile outlook made worse by growing coronavirus risks.
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