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Abe fuels anger, Chinese mask maker rushing to fill orders

Japanese Prime Minister Shinzo Abe’s “stay home” message has fueled anger and accusations that he was insensitive to people who cannot rest at home because the government’s social distancing measures are voluntary and don’t come with compensation. The one-minute video released Sunday shows Abe sitting at home, expressionless, cuddling his dog, reading a book, sipping from a cup and clicking on a remote control. Entertainer Gen Hoshino appeared in part of the video but later said the clip of him strumming on a guitar at home was used without his permission. …read more […]

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Alibaba Pictures Braces for Fourfold Loss Increase, Blames Coronavirus

Alibaba Pictures, the separately listed entertainment arm of Chinese e-commerce giant Alibaba, warned that its losses will be at least $155 million in the year to March recently completed. It blamed the coronavirus outbreak and “complicated difficulties” within the mainland Chinese entertainment industry in 2019. In a filing to the Hong Kong Stock Exchange issued […] …read more […]

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China’s Wuxi Biologics Working on Programs for Covid-19 Virus: CEO

Apr.12 — Chris Chen, chief executive officer of Wuxi Biologics (Cayman) Inc., a pharmaceutical company developing and manufacturing antibody drugs, discusses how the coronavirus outbreak has been affecting his business, and the company’s programs related to the Covid-19 virus. He speaks with Haslinda Amin and Rishaad Salamat on “Bloomberg Markets: Asia.” …read more […]

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Trump’s Big Oil Deal Won’t Save the Weakest of Shale Producers

(Bloomberg) — President Donald Trump said the “big Oil Deal” sealed on Sunday will save hundreds of thousands of American jobs. But the agreement he brokered depends on a sharp downturn in shale that will likely bring about a wave of bankruptcies and job cuts.Days of frantic diplomatic maneuvering culminated in an agreement on Sunday by OPEC+ to pare production by 9.7 million barrels a day, ending a devastating price war between Saudi Arabia and Russia and belatedly tackling a plunge in demand caused by the coronavirus outbreak. The lockdowns enacted across much of the world to slow its spread …read more […]

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Good Time to Invest in Health Care in China: Qiming Venture Partners

Apr.12 — Gary Rieschel, founding managing partner at Qiming Venture Partners, one of China’s most prominent venture capital firms, discusses the opportunities he sees in the market. Qiming has closed a new $1.1 billion fund, even as uncertainties around Covid-19 depress startup funding. Rieschel speaks with Selina Wang and Rishaad Salamat on “Bloomberg Markets: China Open.” …read more […]

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Oil climbs more than $1/barrel as OPEC, allied producers agree record output cut

Oil prices jumped more than $1 a barrel on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand. After four days of wrangling, the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, agreed on Sunday to cut output by 9.7 million barrels per day (bpd) to support oil prices, sources said, representing around 10% of global supply. U.S. West Texas Intermediate (WTI) crude futures were up $1.39, or …read more […]