Business & Finance News
Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors tempered their optimism about the coronavirus while death tolls were still mounting across the globe.
Oil bounced back on Wednesday, with U.S. crude jumping over $1, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic.
Japanese automaker Nissan said on Wednesday its sales in China fell 44.9% from a year earlier to 73,297 units in March, as the coronavirus epidemic continues to hit the world’s biggest car market.
The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
Volkswagen Mexico issued a statement saying one of its employees in the country had died in a potential case of coronavirus.
Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe.
The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
Oil climbed on Wednesday, reversing most of the prior session’s losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic.
Republican U.S. senators who have introduced a bill that would remove U.S. defense systems and troops in Saudi Arabia unless it cuts oil output will hold a call with the kingdom’s officials on Saturday, a source familiar with the planning said on Tuesday.
Airbnb Inc’s new $1 billion investment from private equity firms Silver Lake and Sixth Street Partners has terms that imply a reduced valuation of the home rental company, people familiar with the matter said on Tuesday.
U.S. casino operator Wynn Resorts Ltd and automated teller machines maker NCR Corp jointly raised $1 billion on Tuesday, in the first unsecured junk-rated bond offerings since the market was roiled by the coronavirus outbreak at the start of March.
Asian stock futures were under pressure on Wednesday after a late, sharp sell-off on Wall Street and as oil prices slumped under pressure from swelling global supplies.
Levi Strauss & Co said on Tuesday a majority of its stores in China, where the coronavirus outbreak first emerged in December, were open with sales recovering on a weekly basis and digital sales rising last month.
Boeing Co said late on Tuesday it will make two new software updates to the 737 MAX’s flight control computer as it works to win regulatory approval to resume flights after the jet was grounded following two fatal crashes in five months.
Talks between U.S. airlines and the Treasury Department over how to award $25 billion in cash grants earmarked for payroll assistance due to the coronavirus outbreak were set to continue into the evening Tuesday, people briefed on the matter said.
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