Business & Finance News
Bank of England Governor Mark Carney said policymakers around the world are working on a “powerful and timely” response to the economic hit from coronavirus which has raised fears of a new global recession.
Kuwait’s oil minister said on Tuesday he is optimistic about the outcome of OPEC meetings this week and continued cooperation among OPEC+ countries, Kuwait state news agency KUNA reported.
A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.
As news broke of more cases of coronavirus spreading across the United States, T-Mobile had a novel response to the threat: fewer hugs, kisses or high-fives.
Bank of England Governor Mark Carney said policymakers around the world were working on a “powerful and timely” response to the economic hit from coronavirus which has raised fears of a new global recession.
OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus.
The Kremlin told reporters on Tuesday it would not say whether Moscow was ready to make additional oil output cuts as part of the cooperation between OPEC and non-OPEC countries and said it was necessary to wait for their meeting later this week.
European airlines warned on Tuesday that the worst is yet to come in economic damage to the industry from the rapid spread of coronavirus Covid-19.
Daimler’s car production in China is stable and the supply chains are secure but it is too early to forecast the impact of the coronavirus outbreak on the German carmaker’s sales, Mercedes-Benz’s sales chief said on Monday.
BMW on Tuesday said its China sales have taken a hit this year because of the new coronavirus, but stuck to its target for growing passenger car sales for the year, and said its global supply chain has not been disrupted.
Toyota Motor Corp named Kenta Kon as its next chief financial officer on Tuesday and said it would scrap executive vice president (EVP) roles as part of a drive to streamline the company’s structure, improve production systems and cut costs.
Toyota Motor Corp said on Tuesday Kenta Kon will become its chief financial officer and the roles of some executives will be consolidated, as the Japanese automaker attempts to improve its production systems and cut costs further.
Global stocks and commodity markets extended a tentative recovery from their coronavirus slump on Tuesday, as global policymakers signaled a united front to address the economic fallout from the spreading outbreak.
The Japan Para Sports Association and Tokyo 2020 Olympic and Paralympic organizers moved to cancel this month’s wheelchair rugby test event on Tuesday due to the coronavirus outbreak.
Swiss Re plans to make UBS Group Chief Executive Sergio Ermotti its chairman from next year, the world’s second-biggest reinsurer said on Tuesday, turning to a financial industry veteran with scant insurance experience.
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