Oil prices fell on Tuesday, tracking losses in financial markets on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand.
HONG KONG/LONDON (Reuters) – HSBC Holdings PLC on Tuesday unveiled plans to cut costs and simplify its structure to boost earnings, after its 2019 profit dropped 33% hit by one-time write-offs linked to its investment banking and commercial banking businesses in Europe. The wider strategy overhaul comes amid slowing economic growth in HSBC’s major markets, an outbreak of a fast-spreading coronavirus, Britain’s protracted withdrawal from the European Union, and lower central bank interest rates. While the London-headquartered bank has benefited from billions of dollars of investment in Asia over the last few years – mainly in China – …read more […]
Apple Inc warned on Monday it was unlikely to meet its March quarter sales guidance set just three weeks ago as the world’s most valuable technology firm became one of the biggest corporate casualties of China’s coronavirus epidemic.
Asian shares fell and Wall Street retreated from record highs on Tuesday after Apple Inc said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China.
Nissan Motor Co Chief Executive Makoto Uchida on Tuesday said he expects weak global car sales to keep the Japanese automaker’s earnings and cashflow under pressure through the end of the financial year in March.
Oil prices slipped on Tuesday on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand, tracking losses in financial markets.
U.S. stock futures slipped from record levels on Tuesday after Apple Inc , the most valuable company in the United States, said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China. The number of new coronavirus infections in mainland China fell below 2,000 on Tuesday for the first time since January, Chinese health officials said, although global experts warn it is too early to say the outbreak is being contained. The International Energy Agency (IEA) said last week the virus was set to cause oil …read more […]
Nissan Motor Co Chief Executive Makoto Uchida on Tuesday said he expects the Japanese automaker’s earnings and cashflow to remain pressured through the end of the financial year in March as it grapples with weak global car sales.
U.S. stock futures slipped from record levels on Tuesday after Apple Inc said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China.
Apple Inc said on Monday it would not meet its revenue guidance for the March quarter because of the coronavirus outbreak slowing iPhone production and weakening demand in China.
Alstom SA on Monday agreed to buy Bombardier Inc’s train business for up to 6.2 billion euros ($6.7 billion), days after Airbus SE agreed to buy out Bombardier’s remaining stake in the A220 passenger jet program, helping the company improve its financial position.
Former US vice president’s firm releases portfolio Continue reading… …read more […]
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