Facebook Inc on Thursday confirmed that a contractor at a Seattle office has been diagnosed with the coronavirus and the social media giant said it would close that location until March 9.
(Bloomberg Opinion) — Europe’s lenders are staring at yet another possible crisis, this time not of their own making, and the brutal reality is that the European Central Bank can do very little to help them. That’s bad news for the real economy too.The economic hit from the rapid spread of the coronavirus will probably mean another spate of loans turning bad, a slump in demand for new borrowing, and falling income from trading and commission. The banking industry has been among the hardest hit in the recent stock-market rout. Little wonder.There are some minor measures that ECB President Christine …read more […]
German fashion house Hugo Boss warned on Thursday that the coronavirus will have a significant impact on its first-quarter results, with sales falling particularly in Asia, but also in other key markets.
ProSiebenSat.1 Media said on Thursday its e-commerce arm NuCom would buy U.S. dating app developer Meet Group Inc , as the German broadcaster doubles down on digital growth to offset its declining commercial TV franchise.
Apple Inc and Netflix Inc said they were pulling out of the South by Southwest music and tech festival to be held later this month, amid the coronavirus outbreak.
Shares of Yes Bank Ltd surged 19% on Thursday on a report that the Indian government has approved a plan for top lender State Bank of India to lead a consortium that will buy a stake in the troubled private-sector bank. Yes Bank and SBI did not immediately respond to Reuters’ request for comment. Yes Bank has struggled to raise capital it desperately needs to stay above regulatory requirements as it battles high levels of bad loans due to its exposure to troubled sectors. …read more […]
Oil prices rose more than 1% on Thursday ahead of an OPEC meeting in which Saudi Arabia is expected to push the group and its allies including Russia to agree to further output cuts to support the market.
British regional airline Flybe said early on Thursday it entered into administration, as the already struggling carrier failed to withstand the plunge in travel demand caused by coronavirus.
(Bloomberg) — Asian stocks extended a global equity rally after an emergency U.S. spending bill to combat the impact of the coronavirus added to signs of support from policy makers around the world. Treasuries edged higher and U.S. stock futures gave back some of Wednesday’s gains.Equities saw modest gains across the region with the Asian benchmark set for a fourth day of advance. S&P 500 futures slid as California called a state of emergency due to the virus. The underlying gauge Wednesday surged more than 4% in the wake of Congress authorizing nearly $8 billion for virus prevention. The Bank …read more […]
British regional airline Flybe said on Thursday it had entered into administration, as the already struggling carrier failed to withstand the plunge in travel demand caused by the coronavirus outbreak.
Mexico’s private sector has drawn up a broad package of proposed energy investments for the government worth almost $92 billion, according to a document seen by Reuters on Wednesday, providing a potential lift to the country’s misfiring economy.
Asian shares rallied for a fourth straight session on Thursday as U.S. markets swung sharply higher and another dose of central bank stimulus offered some salve for the global economic outlook.
(Bloomberg) — One of Silicon Valley’s most highly prized engineers filed for bankruptcy after Google won a $179 million award against him over his defection to Uber Technologies Inc.Anthony Levandowski’s understanding of self-driving cars spawned multimillion-dollar bidding wars for his talent, but he got caught between the companies’ fierce competition in the race to own the technology.Financial and legal liabilities that had steadily mounted for years finally proved too much when a San Francisco state judge refused Wednesday to release Levandowski from an award that Google won in arbitration over his violation of an agreement to not poach employees.The ruling …read more […]
Apple Inc is pulling out of this month’s South by Southwest music and tech festival amid the coronavirus outbreak, a company spokesman said on Wednesday.
The U.S. death toll from coronavirus infections rose to 11 on Wednesday and California Governor Gavin Newsom declared a statewide emergency amid the nation’s largest outbreak. Facebook Inc had said earlier this week it would not participate in the festival. The South by Southwest music and tech festival, set to be held in Austin, Texas, had said last month the event will proceed as planned despite “a handful” of cancellations related to the virus. …read more […]
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