Italian luxury leather goods maker Tod’s made an “excellent” start to 2020 before the coronavirus hit sales but the situation could start to improve in the next few weeks, Chairman Diego Della Valle said on Friday.
Listed Chinese companies are queuing up to issue shares and have already announced plans to raise more than $10 billion in the past week after fundraising rules were relaxed to help ease cash strains caused by the coronavirus.
Chinese automaker Geely [GEELY.UL] has launched a service for customers to buy cars online and get them delivered directly to their homes, in a bid to drum up sales as the coronavirus outbreak prompts buyers to stay away from showrooms.
China’s finance ministry said it will begin exempting 65 U.S. goods from retaliatory tariffs implemented amid the bilateral trade dispute with the United States for one year starting Feb. 28.
Shares in Italy’s biggest bank UniCredit fell more than 1% at open on Friday following reports Chief Executive Jean Pierre Mustier is being considered for the top job at rival HSBC .
Oil prices fell around 1% on Friday, pressured by growing worries about fuel demand as a coronavirus epidemic spread further beyond China, and as major crude producers appeared to be in no rush to cut output to buttress the market.
(Bloomberg Opinion) — A year ago Richard Branson was on his private island, Necker, when the former Twitter executive Adam Bain came to see him with a proposal for how to take Branson’s suborbital space travel company public.The bearded British billionaire is doubtless glad he took the meeting: After an unsteady start, Virgin Galactic Holdings Inc.’s valuation has rocketed. The stock has surged more than 400% since a low in December, valuing the company at close to $8 billion, or almost 2,000 times the revenues it’s estimated to have generated in 2019. (For comparison, Uber Technologies Inc. trades on about …read more […]
In the days after a new virus was identified in China on Dec. 31, global central bankers fell back on past experience for a comforting early analysis.
(Bloomberg) — Asian stocks, U.S. and European futures retreated Friday amid renewed concern about the impact of the coronavirus as cases outside of China increased. Treasuries and gold advanced.Shares in Korea and Hong Kong saw the steepest losses, with more modest declines in Australia. Japanese stocks closed little changed while those in China edged higher. The yield on 10-year Treasuries fell below 1.5% for the first time since September. Also hurting sentiment: gauges of manufacturing in Australia and Japan added to concern about slowing economic growth, while weak South Korean export data weighed on the won. The Dollar Index remained …read more […]
Samsung Electronics Co Ltd said on Friday it has named a non-executive director as board chairman for the first time, to increase transparency and independence.
Asian shares were under water on Friday as fears over the creeping spread of the coronavirus sent funds fleeing to the sheltered shores of U.S. assets, lifting the dollar to three-year highs.
Oil prices fell on Friday amid concerns over fuel demand as the coronavirus epidemic spread further beyond China, while major crude producers stood pat on any early action to cut output to support the market.
(Bloomberg) — Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter.The Department of Justice and Securities and Exchange Commission may announce penalties as early as Friday, the person said, asking not to be identified because talks are confidential. The company isn’t expected to plead guilty to a crime, the person said.Spokespeople for the company and Justice Department declined to comment. A spokeswoman for the SEC didn’t immediately respond to a …read more […]
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