The widening economic fallout from the coronavirus outbreak and soft consumption are forcing the Bank of Japan to message more strongly that it is no longer inclined to chase its elusive 2% inflation target, sources familiar with its thinking say.
(Bloomberg) — For the second time in as many years, Apple Inc. has had to temper its sales outlook because of unexpected shifts in China, the country that’s served as the engine of its growth and success. First a trade war with the U.S. and now the outbreak of a novel coronavirus have called into question China’s role as a reliable market and supply chain partner for the world’s most valuable maker of consumer electronics.The coronavirus that’s stifled China’s meticulously orchestrated production and logistics has hit both Apple’s supply and demand — factories are resuming work slower than expected, the …read more […]
China said on Tuesday it would accept applications for new tariff exemptions for 696 products imported from the United States including key agricultural and energy products such as pork, beef, soybeans, liquefied natural gas and crude oil.
HSBC Holdings PLC on Tuesday unveiled plans to cut $100 billion in assets, slash its investment bank and restructure in the United States and Europe, as it launched its biggest overhaul in years in a bid to improve returns.
Nissan’s new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan’s second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn.
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.
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.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
