Business & Finance News
General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the U.S. auto maker $1.1 billion.
French transport infrastructure company Alstom said on Monday it was in talks over a possible acquisition of the train business of Canadian company Bombardier , which could be worth $7 billion on an enterprise value basis.
NMC Health said on Monday its founder BR Shetty had resigned as the Emirati healthcare group’s joint non-executive chairman, leaving UK businessman H.J. Mark Tompkins as sole chairman.
NMC Health said on Monday its founder B.R. Shetty has resigned as the Emirati healthcare group’s joint non-executive chairman and H.J. Mark Tompkins will now continue as the sole chairman.
Asian shares reversed losses on Monday and moved back toward a three-week top as China’s persistent efforts to cushion the blow from a coronavirus outbreak calmed nervous investors, although Japanese stocks faltered on growing recession risks.
Bank of Japan Governor Haruhiko Kuroda said the central bank would consider additional rapid easing if the coronavirus outbreak significantly threatened Japan’s economy and price trends, the Sankei newspaper reported on Monday.
Dubai’s DP World , one of the world’s largest port operators, said on Monday it would delist and return to full state ownership in a deal valuing the company at $13.9 billion.
Oil prices were little changed on Monday as concerns of falling fuel demand caused by the economic fallout from the coronavirus outbreak in China was offset by expectations that output cuts from major producers will tighten crude supply.
Bank of Japan Governor Haruhiko Kuroda said the central bank would consider additional easing steps without hesitation if the coronavirus outbreak significantly threatened Japan’s economy and price trends, the Sankei newspaper reported on Monday.
Australia’s QBE Insurance Group said on Monday climate change could make some premiums unaffordable, especially for customers exposed to extreme weather events, and was a “material risk” for its operations across the globe.
Japan’s economy shrank at the fastest pace in almost six years in the December quarter as last year’s sales tax hike hit consumer and business spending, highlighting a fragile outlook made worse by growing coronavirus risks.
Japanese Economy Minister Yasutoshi Nishimura said on Monday the government was ready to take all necessary steps flexibly with an eye on the impact of the coronavirus outbreak on the economy and tourism.
General Motors Co is retreating from more markets outside of the United States and China, saying on Sunday that it will wind down sales, design and engineering operations in Australia and New Zealand and retire the Holden brand by 2021.
General Motors Co is retreating from more markets outside the United States and China, saying on Sunday that it will wind down its Australian and New Zealand operations, while selling a plant in Thailand.
Asian shares reversed earlier losses on Monday and moved back toward a three-week top as Chinese efforts to cushion the blow from a coronavirus outbreak cheered investors, although Japanese stocks faltered amid growing recession risks.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
