The chief executive of Robert Bosch, the world’s biggest auto components supplier, warned that coronavirus could impact its global supply chain, which is heavily dependent on China.
(Bloomberg) — It could have been a lot worse for Hong Kong’s big market reopen as investors sought to gauge the widening impact of the coronavirus on China’s economy.The Hang Seng Index fell as much as 3% Wednesday on the first day of trading after the Lunar New Year. Though that was briefly its worst slide on a closing basis since October 2018, the index steadied to end the day 2.8% lower — matching its loss from Jan. 21. Meanwhile, the offshore yuan strengthened 0.1% to 6.9587 per dollar.While the stock declines were steep — especially for landlords, travel firms …read more […]
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Banco Santander SA expects to reach the higher end of its target for capital this year as the Spanish lender seeks to dispel persistent concerns that it needs to boost its financial strength. The bank forecasts that its key Common Equity Tier 1 capital ratio — a closely watched metric — will rise to close to 12% this year after gaining to 35 basis points in the fourth quarter to 11.65%. The lender made the forecast after earnings jumped in the fourth …read more […]
Ford Motor plans to resume production on Feb. 10 at its manufacturing facilities in China with joint venture partner Chongqing Changan Automobile , a spokesman for the U.S. automaker said on Wednesday.
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.
Six months after Unilever’s Alan Jope suggested he may get rid of brands without “purpose”, investors are wondering when he will deliver.
(Bloomberg) — U.S. and European stock futures edged up, oil clawed back some of its recent losses, and China’s yuan was stable in offshore trading as investors continued to assess the risks from the coronavirus.A senior official said the White House hasn’t asked for a suspension of U.S.-China flights, helping ease some concerns amid mounting evidence of a near-term economic hit from the disease. Most Asian benchmarks rose, while Hong Kong tumbled in a catch-up with the global sell-off since that market shut for holidays. China remains closed. Treasuries added to recent gains.The S&P 500 Index climbed 1% on Tuesday …read more […]
China’s growth has helped power a global aviation boom over the last decade, but as the country curtails travel in the face of a new coronavirus, a slowdown could hit the industry harder than ever before.
U.S. President Donald Trump will sign a new North American trade agreement on Wednesday in an outdoor ceremony at the White House to be attended by about 400 guests – but not the key Democrats who helped secure congressional passage of the deal.
Asian shares fell on Wednesday as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and added to worries about the economic impact of the outbreak.
As Goldman Sachs Group Inc approaches its first-ever investor day on Wednesday, all eyes are on its tiniest business division, the consumer bank, and how the Wall Street powerhouse will get it to grow.
The Federal Reserve will conclude its latest policy meeting on Wednesday with interest rates almost certainly to remain on hold but officials likely to discuss possible changes to how they manage the U.S. central bank’s key overnight borrowing rate.
China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and U.S. producers in particular, but its plans spell more gloom for Asia’s hard-hit refining industry.
SINGAPORE/BEIJING (Reuters) – China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and U.S. producers in particular, but its plans spell more gloom for Asia’s hard-hit refining industry. Already the world’s No.2 oil refiner after the United States, China added 800,000 barrels per day (bpd) of capacity last year – 80% of the United Kingdom’s refinery throughput – and analysts expect a further 460,000 bpd to become operational in 2020. Chinese exports of diesel, gasoline and jet fuel combined jumped 20% in 2019, reaching as far as Mexico, …read more […]
The Chinese territory of Macau has become a near-ghost town during what is typically the busiest time of year in the world’s biggest casino hub, after authorities announced a raft of measures to keep visitors away and contain the new coronavirus. The local government late on Tuesday said it would curb its individual visit scheme through which visitors gain entry from mainland China, days after it suspended inbound package tours. The steps come as deaths from the coronavirus reached 132 in China on Wednesday with 1,500 new cases. …read more […]
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