Business & Finance News
Straining under a massive debt load and at risk of a ratings downgrade, Mexican state oil company Petroleos Mexicanos (Pemex) was hit with a record jump in its pension liabilities last year as more workers retired on generous benefits.
Asian shares and U.S. stock futures tumbled on Friday as disruptions to business from the coronavirus worsened, stoking fears of a prolonged global economic slowdown.
Hong Kong’s Cathay Pacific Airways Ltd said on Friday it was closing its Vancouver cabin crew base, laying off 147 crew members, as part of an ongoing business review.
U.S. job growth likely slowed in February, but the pace probably remained consistent with a healthy labor market despite the coronavirus outbreak, which stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
HSBC Holdings PLC has sent home more than 100 staff in London after a worker tested positive for the coronavirus, the first known case at a major company in Europe’s main financial hub.
JPMorgan Chase & Co CEO and Chairman Jamie Dimon is recovering from emergency heart surgery done on Thursday morning, with two deputies taking over as he recuperates, the largest U.S. bank said.
An independent committee investigating a graft scandal at Kansai Electric Power Co , Japan’s second-largest utility, will release its findings on March 14, a representative of the committee said on Friday.
South Korea and Japan will hold export control talks originally planned for March 10 in Seoul via teleconference, the Jiji news agency reported on Friday, reflecting the widening impact of the coronavirus outbreak.
Oil slid on Friday as worries about demand for fuel being sapped by the global coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices.
Asian shares and U.S. stock futures fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.
President Donald Trump said on Thursday the U.S. economy might take a hit from the coronavirus outbreak but he predicted the challenge would eventually pass and defended his handling of the crisis.
Asian shares fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.
JPMorgan Chase & Co Chief Executive Jamie Dimon had emergency heart surgery to treat an aortic dissection on Thursday morning and is “recovering well,” the bank said on Thursday.
The coronavirus likely halved China’s economic growth in the current quarter compared with the previous three months, more severe than thought just three weeks ago and triggering expectations for earlier interest rate cuts, a Reuters poll found.
U.S. financial companies are doubling down on travel restrictions to include domestic trips, replacing meetings with video calls, and webcasting events as the coronavirus outbreak starts to alter business-as-usual across the sector.
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