Business & Finance News
Finnish telecom equipment maker Nokia’s incoming chief executive Pekka Lundmark told a news conference on Monday it was too soon to talk about any strategic changes.
Goldman Sachs Group Inc has told its staff that all non-essential business travel should be postponed, according to a memo seen by Reuters.
Global factories took a beating in February from the coronavirus outbreak with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a coordinated policy response by central banks to prevent a global recession.
Middle East governments should consider providing support to airlines to help them manage the impact of the coronavirus outbreak, which has led to a raft of flight cancellations, the industry’s largest global body said on Monday.
Tens of thousands of ethnic Uighurs were moved to work in conditions suggestive of “forced labour” in factories across China supplying 83 global brands, and Australian think tank said in a report released on Sunday.
Lufthansa said on Monday that it was suspending flights to China until April 24 and to Tehran until April 30 due to the coronavirus outbreak.
Oil prices jumped more than 4%, up from multi-year lows hit earlier on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Nokia Chief Executive Rajeev Suri will step down in September and be replaced by Pekka Lundmark, who used to work for the Finnish company and is the current CEO of energy group Fortum, Nokia said on Monday.
The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict.
Hyundai Motor reported its lowest monthly global sales in a decade in February as the coronavirus outbreak hurt demand, in what is the first major indicator of damage to the broader auto sector from the epidemic.
Nike’s European headquarters in the Netherlands will be closed on Monday and Tuesday after an employee was infected with the coronavirus.
Asia’s factories took a beating in February from the coronavirus outbreak with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a co-ordinated policy response by central banks to prevent a global recession.
South Korean budget carrier Jeju Air Co Ltd said on Monday it would acquire a 51% stake in competitor Eastar Jet for 54.5 billion won ($45.49 million), a lower price than previously announced.
Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Shares in HNA Group-controlled companies rose on Monday after the Chinese aviation and tourism conglomerate said it had asked the government to help it resolve liquidity risk caused by the coronavirus outbreak which has put heavy pressure on the airline industry.
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