Urged to restore economic activity by President Xi Jinping, large parts of China relaxed curbs on transport and travel on Monday as reported new cases of coronavirus outside the worst-hit province fell to the lowest in a month.
U.S. private equity Blackstone Group said on Monday it would raise its proposed offer price to buy Japan’s hotel chain Unizo Holdings to 6,000 yen ($53.78) per share, topping a bid by U.S. investment fund Lone Star.
(Bloomberg) — The coronavirus outbreak spread further outside China, sparking fears of a global pandemic. Italy, now the virus’s epicenter on the continent, is studying measures to support the local economy.Infections spiked again in South Korea and Iran, while Afghanistan, Bahrain and Kuwait all reported their first cases. That led to a renewed plunge in stocks globally and Europe’s debt risk jumped the most in two years.The Chinese government said it would postpone annual legislative meetings. Earlier on Monday, China said it would ease the quarantine in Wuhan and then abruptly reversed hours later, saying the lockdown would remain in …read more […]
Three units of Goldman Sachs pleaded not guilty to charges of misleading investors regarding $6.5 billion in bond sales that the U.S. investment bank helped raise for state fund 1Malaysia Development Berhad (1MDB), Bernama state news agency reported on Monday.
Primark owner Associated British Foods warned on Monday there was a risk of supply shortages on some lines later in the 2019-20 financial year if delays in factory production in China are prolonged due to coronavirus.
Feb.24 — In Germany, Chancellor Angela Merkel’s party plunged to an historic low in a state election in Hamburg. The Christian Democratic Union’s outgoing leader Annegret Kramp-Karrenbauer has come under fire for struggling to steer the succession process. The party will gather its leadership in Berlin today in an attempt to seek a way out of the political crisis. Bloomberg’s Daniel Schaefer reports on “Bloomberg Markets: European Open.” …read more […]
Feb.24 — Janet Mui, global economist at Cazenove Capital, discusses the impact of the coronavirus on equity markets and China’s economy. She speaks on “Bloomberg Markets: European Open.” …read more […]
Some South Korean workers at Samsung Electronics and Hyundai Motor are staying home as a precautionary measure as corporate Korea scrambles to prevent the coronavirus outbreak from causing widespread disruption in its home market.
“The promise of stimulus has made commodity markets act like equity markets, building up risks of a sharp correction,” analysts at the Wall Street bank said in a note dated Feb. 21. Over a 12-month period, the bank forecast returns of 14.3% from energy, 4.3% from industrial metals and a negative 0.8% from precious metals. Commodity markets have come under pressure as mounting fears that the new flu-like virus will grow into a pandemic have heightened worries of a slowdown in global economic growth. …read more […]
Italy’s biggest bank UniCredit said on Monday Chief Executive Jean Pierre Mustier had confirmed he would remain in his role, following media reports that he was being considered for the top job at rival HSBC .
Some asset prices are moving together in unusual ways, an indication that investors may be preparing their portfolios for a coronavirus-led global slowdown. U.S. stocks, gold, Treasuries and the dollar have all surged in 2020, a climb that has taken place alongside persistent concerns over the outbreak’s economic fallout. Such synchronous moves are not typical, as investors usually have different reasons for buying each asset class. …read more […]
Some asset prices are moving together in unusual ways, an indication that investors may be preparing their portfolios for a coronavirus-led global slowdown.
(Bloomberg) — A raft of new coronavirus cases in numerous countries outside China over the weekend has redoubled concern about the ability of the illness to spread, and potential economic impact.South Korea’s Kospi dropped as much as 3.8% after the country’s count of cases rose quickly to 763, and the government raised its infectious-disease alert to the highest level. Italy’s government imposed a lockdown on an area of 50,000 people near Milan and took other measures as infections exceeded 130. Iran reported an eighth death with 43 cases.That’s all on top of the impact on hardest-hit China, where millions of …read more […]
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