Business & Finance News
Samsung Electronics has started building a $220 million research and development centre in Vietnam, the South Korean tech giant’s local unit said on Monday.
South Korea’s Samsung Electronics has started building a $220 million research and development center in Vietnam, the Vietnamese government said on Monday.
Asia’s factories took a heavy hit in February from the coronavirus outbreak with activity in China shrinking at a record pace, business surveys showed on Monday, adding to fears the crisis risks triggering a global recession.
Asian shares steadied from early losses on Monday as investors placed their hopes on a coordinated global monetary policy response to weather the damaging economic impact of the coronavirus epidemic.
Amazon.com Inc said late on Sunday that two employees in Milan, Italy, have contracted the coronavirus and are under quarantine.
Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak.
The rout in world stocks deepened on Monday, with investors rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.
U.S. stock index futures tumbled as trading reopened on Sunday night with investors still unnerved by the coronavirus and taking little solace from weekend comments by U.S. officials that aimed to soothe panic about a pandemic.
The implied yield on U.S. 10-Year Treasury futures traded below 1% for the first time, as investors grew increasingly unnerved by the spread of coronavirus.
Goldman Sachs economists on Sunday predicted the U.S. Federal Reserve will cut interest rates aggressively perhaps before its next scheduled meeting in two weeks time, saying the head of the U.S. central bank sent a clear signal with his unscheduled statement on Friday.
Stock futures plummeted on Monday as investors were rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.
U.S. stock index futures tumbled when trading reopened on Sunday night with investors still unnerved by coronavirus and taking little solace from weekend comments by U.S. officials that aimed to soothe panic about a pandemic.
American Airlines Group Inc said on Sunday it was waiving change fees on all newly purchased tickets amid declining air travel demand because of the new coronavirus outbreak.
Investors battered by the breathtaking drop in global stock markets on coronavirus fears are ever more convinced the world’s big central banks, including the Federal Reserve, will soon step in to try to quell the storm.
British Prime Minister Boris Johnson warned he would drive a hard bargain with the United States in upcoming trade talks as the government sets out its negotiating position on Monday.
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