Shops, restaurants and cinemas may be deserted in many parts of virus-plagued China, but online trading forums, internet roadshows and analyst calls are teeming with investors who have driven up stock trading volumes to nine-month highs.
European travel company TUI said strong demand for holidays would help offset the impact of the grounding of the Boeing 737 MAX aircraft on its annual profit, enabling it to lift the bottom end of annual earnings guidance.
Daimler on Tuesday cut its dividend to 0.90 euros ($0.9818) a share after 2019 earnings more than halved, weighed down by restructuring and legal charges in what amounts to the third profit warning for new CEO Ola Kaellenius.
Delivery Hero expects its Europe business to remain break-even during 2020 after hitting this mark, as forecast, in the fourth-quarter of 2019, the German food delivery group said on Tuesday.
European holiday company TUI said it was expecting the grounding of the Boeing 737 MAX aircraft to cost it an additional 220 million euros to 245 million euros over its 2020 financial year, as the U.S. planemaker’s woes continue to drag on profit.
Federal Reserve Chair Jerome Powell is likely to sound fairly upbeat about the outlook for U.S. economic growth when he testifies this week in the first of his twice-a-year updates to Congress, even as he nods to the potential threat from the coronavirus in China.
Malaysian airlines could be barred from introducing new routes in China, South Korea and Japan after the U.S. Federal Aviation Administration (FAA) downgraded the country’s air safety rating late last year, Malaysia’s aviation regulator said on Tuesday.
Singapore kicked off Asia’s largest aerospace event under heightened scrutiny on Tuesday as thousands of visitors shunned the Singapore Airshow over coronavirus fears, while all eyes were on a sensitive fly-off between U.S. and Chinese fighters.
China’s smartphone sales may plunge by as much as 50% in the first quarter, as many retail shops have closed for an extended period and production has yet to fully resume due to the fast spread of a new coronavirus, according to research reports.
A Chinese media company said it will lay off 500 employees due to the coronavirus outbreak, the latest among a string of firms to do so in the past two weeks as the epidemic takes a toll on small-to-medium sized businesses.
Oil prices rose more than 1% on Tuesday in sympathy with a rally in equity markets but investors remained jittery over the Wuhan virus that has now killed over 1,000 in China.
Asian share markets followed Wall Street higher on Tuesday as China’s factories struggled to re-open after an extended break, though analysts warned investors might be underestimating how economically damaging the challenge was likely to be.
An Australian investigator who helped bring criminal cartel charges against Citigroup Inc and Deutsche Bank AG said he first heard concerns about a stock issue they worked on from a rival regulator, but the agencies acted independently.
Airbus on Tuesday unveiled a curvaceous aircraft design that blends wing and body, designed to slash carbon emissions by some 20%.
Geely Automobile and its sister company Volvo Cars are planning to merge and list in Hong Kong and possibly Stockholm, giving Volvo access to public markets after it dropped a move to list its stock two years ago.
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