Business & Finance News
World share markets were headed for their worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and trigger a global recession.
A bankrupt aluminum smelter that re-opened in 2018, after U.S. President Donald Trump imposed tariffs on imported metals, is losing money at such a rapid clip that it could close within 60 days, the top executive at the Missouri plant said on Thursday.
Oil prices plunged to their lowest in more than a year on Friday, putting them on track for the biggest weekly decline in more than four years, as the rapid spread of the coronavirus stoked fears of slowing global demand.
JPMorgan Chase & Co issued global restrictions on non-essential travel to protect its employees and business against the spreading coronavirus, the Bloomberg News https://bloom.bg/2vnxhyW reported late on Thursday.
Malaysian long-haul budget airline AirAsia X Bhd said it will defer delivery of 78 Airbus SE A330neo planes and consider other changes to reduce its fleet as the coronavirus dents demand.
U.S.-based Public Storage emerged on Friday as the likely buyer of Australia’s largest self-storage operator National Storage REIT with its current A$1.89 billion ($1.25 billion) offer, after two rivals dropped out of the race.
Japan’s factory output rose more than expected in January, providing some relief for policymakers amid heightened risks of a recession as the coronavirus outbreak in China disrupts supply chains and business activity.
World share markets were headed for the worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and trigger a global recession.
Japan’s vice minister of justice is traveling to Lebanon this weekend to try to make the case that fugitive ex-Nissan Chairman Carlos Ghosn should stand trial in Japan.
Oil prices fell for a sixth straight session on Friday and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
Global share markets were headed for the worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and derail economic growth.
Global funds changed course in February and recommended a cut to equity allocations in their model balanced portfolio after taking them to a two-year high in January, instead suggesting an increase in bond holdings, Reuters polls showed.
Beyond Meat Inc on Thursday missed quarterly earnings expectations due to higher costs, and said Executive Chairman Seth Goldman would give up his executive status, while remaining chair of the board, sending shares down 10% in after-hours trade.
Global share prices headed for the worst week since the darkest days of the world financial crisis in 2008 as investors braced for the coronavirus to become a pandemic and rapidly spread around the world.
With this week’s coronavirus-driven rout having shaken awake previously slumbering euro-dollar markets, the spotlight is back on the “short volatility” trades that some regulators fear could trigger a blowup on world markets.
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