Business & Finance News
Australia’s Boral Ltd said on Monday delays to building projects due to bushfires will likely cause a plunge in its second-half results, while revealing an investigation had found inflated earnings at its North American window-making business.
Japan’s SoftBank Group is expected to post a slide in profits for the past quarter, deepening concern about its ability to secure funding for a second Vision Fund and giving activist fund Elliott Management more fodder for a shake-up.
With residents and courts ringing the alarm about depleted water supplies in Chile’s Atacama salt flat, the world’s top lithium miner Albemarle quietly filed a proposal in December for a network to monitor flows beneath the parched desert floor.
Oil prices on Monday extended their decline from an early January peak above $70 as the specter of excess supplies loomed over the market after the spreading coronavirus outbreak hit demand in China, the world’s largest oil importer.
Stocks and oil fell while safe-haven gold rose on Monday as the death toll from a coronavirus outbreak surpassed the SARS epidemic, raising alarm bells about its severity.
U.S. stock futures fell on Sunday after China’s death toll from the coronavirus outbreak exceeded the global total from the SARS epidemic and as authorities prepared for millions of people to return to work after an extended Lunar New Year break.
The Chinese embassy in Paris on Sunday urged the French government not to discriminate against Huawei as it selects suppliers for its 5G mobile network, saying it feared the company would face more constraints than rivals.
Mattel Inc will close a factory in Canada after shutting down two plants in Asia, as the toymaker reduces its manufacturing footprint to cut costs, the Wall Street Journal said on Sunday.
Local Chinese authorities have not blocked Apple supplier Foxconn from resuming production amid a coronavirus outbreak, they said in a statement on Sunday, denying an earlier report in the Nikkei Business Daily.
The local government of the city of Shenzhen in southeastern China said on Sunday it had not blocked plans by Apple supplier Foxconn to resume production, adding that the company would restart once inspections were completed.
U.S. Energy Secretary Dan Brouillette said on Friday that Canada and Mexico could help export U.S. coal to Asia to get around the blocking of shipments by West Coast states concerned about the impact of the fuel on climate change.
Senior members of Prime Minister Boris Johnson’s Conservatives who have demanded Chinese telecoms giant Huawei must not have a role in Britain’s 5G mobile network are conducting “a kind of witch-hunt”, China’s ambassador to London said on Sunday.
Plans to cut some of South African Airways’ (SAA) domestic and international routes are aimed at making the airline sustainable and free from government funding after restructuring, experts appointed to try to rescue the company said on Sunday.
Tesla could get state subsidies in its plan to set up a gigafactory in Germany, the country’s economy minister told a weekly newspaper.
South Africa aims to free up over a billion dollars in stalled weapons sales, including to Saudi Arabia and United Arab Emirates, by amending a document at the heart of an export row, a senior arms control official told Reuters.
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