Business News
Virus fears keep stocks red; ECB gets ready to rethink
World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China.
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Business News
Volkswagen CEO – Luca de Meo is probably in talks with Renault: CNBC
The chief executive of Volkswagen told CNBC that Luca de Meo, who earlier this month stepped down as chief executive of the German carmaker’s Spanish Seat brand, was probably in talks with Renault .
Business News
BP appoints new finance chief as Looney prepares to take over
BP’s finance chief Brian Gilvary is to step down in June after eight years in the role and will be replaced by a close ally of Bernard Looney who takes over as chief executive next month.
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Treasury Secretary Mnuchin says Greta Thunberg can criticize 'after she studies economics'
Treasury Secretary Steven Mnuchin dismissed Thunberg’s call for private and public sector divestment from fossil fuel companies, telling Yahoo Finance at a press briefing, “After she goes and studies economics in college she can come back and explain that to us.” …read more […]
Business News
Australia’s Westpac hires ‘Mack the knife’ McFarlane to chair crisis-hit bank
Australia’s Westpac Banking Corp named a former Barclays boss as chairman on Thursday, entrusting veteran banker John McFarlane with the task of steering it through the country’s biggest money-laundering scandal.
Business News
Yen jumps and yuan sags on Chinese virus fears
The Japanese yen strengthened and China’s yuan fell to a two-week low on Thursday as investors grew more anxious about the spread of a virus in China, while the euro was calm ahead of the European Central Bank meeting.
Business News
Britain says Huawei alternatives are limited, decision soon: minister
Britain will soon decide what role China’s Huawei will have in its 5G telecommunications network but there are only a limited number of alternative providers, business minister Andrea Leadsom said on Thursday.
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Chinese Stocks Plunge in Worst End to Lunar Year on Record
(Bloomberg) — Sign up for Next China, a weekly email on where the nation stands now and where it’s going next.Panic coursed through the world’s second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China’s week-long trading break.The Shanghai Composite Index settled 2.8% lower after the close of trading, the worst end to a Lunar Year in its three-decade history. More than 90% of the mainland’s 4,000 stocks fell on volumes that were 20% above average, with foreign traders selling a record $1.7 billion worth of the shares via links with Hong Kong. The …read more […]
Business News
Britain to United States: We want a trade deal and a digital tax
Britain wants a trade deal with the United States but will impose a digital service tax on the revenue of companies such as Google, Facebook and Amazon, business minister Andrea Leadsom said on Thursday.
Trading Ideas
Apple Stems IPhone Sales Drop in India With Hopes High for 2020
(Bloomberg) — Apple Inc.’s iPhone shipments in India grew 6% in 2019 compared with a 43% decline in the previous year, stabilizing its position in a rare market that still exhibits growth in smartphone demand.Discounting the iPhone XR by $250 in the middle of the year made it Apple’s best-selling phone in the country, according to Counterpoint Technology Market Research. The fall introduction of the iPhone 11, with a reduced starting price, “helped to gain share during the festive season and in its launch quarter in India,” the researchers added.In a country where the annual per-capita income barely exceeds $2,100, …read more […]
Business News
Oil skids as specter of China virus looms over fuel demand, economy
Oil prices fell to their lowest in seven weeks on Thursday, sliding more than 1% on concern that the spread of a respiratory virus from China may lower fuel demand if it stunts economic growth in an echo of the SARS epidemic nearly 20 years ago.
Business News
Siemens CEO Kaeser asks Trump for equal treatment in Mideast
Siemens Chief Executive Joe Kaeser said he was seeing a more positive mood among the German engineering company’s clients at the start of the year, he told CNBC on Thursday.
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Stocks Slide on Virus-Impact Concerns; Bonds Rise: Markets Wrap
(Bloomberg) — For a fresh perspective on the stories that matter in Australian business and politics, sign up for our new weekly newsletter.Stocks, crude oil prices and the yuan slumped on Thursday on concerns about the impact of the new China virus on corporate sales and economic growth. The yen edged up with Treasuries.On the last trading day in China before the nation’s epic travel season for the lunar new year holidays begins, the country’s stocks tumbled about 3%. With China moving to shut down travel in and out of the epicenter of the novel coronavirus, Wuhan, the threat to …read more […]
Business News
Explainer: Global airlines on high alert as virus outbreak spreads
Airlines and passengers are on guard against a new flu-like virus that originated in Wuhan, China.
Business News
Chinese listed companies ramp up virus efforts after president’s call
A number of Chinese listed companies – ranging from biotech firms, drugmakers, mask producers and thermometer manufacturers – announced efforts in response to a national call to fight the outbreak of the Wuhan coronavirus.