Business News

Airlines are suspending flights to China in the wake of the new coronavirus outbreak.

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Hong Kong’s markets regulator and stock exchange will relax rules on how companies must publish their annual results in response to challenges caused by the newly identified coronavirus, they said in a joint statement on Tuesday.

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India is likely to issue at least $5 billion worth of bonds with no limits on foreign investment next year, in a bid to list the bonds on global indices and attract more foreign funds, according to two finance ministry sources.

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Ferrari said on Tuesday its fourth-quarter core profit rose 22% to meet the Italian luxury carmaker’s upgraded forecasts for last year.

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A Milan court ordered Dutch lender ING to pay 30 million euros ($33.17 million) to settle a money-laundering case in Italy, a judicial source said on Tuesday.

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Wizz Air’s largest shareholder, U.S.-based private equity firm Indigo Partners, carried out a long-time plan to cut its stake in the company as the Budapest-based low-cost airline works to comply with European Union ownership rules.

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Britain will ban the sale of new petrol, diesel and hybrid cars from 2035, five years earlier than planned, in an attempt to reduce air pollution that could herald the end of over a century of reliance on the internal combustion engine.

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China’s civil aviation authority has urged domestic carriers to continue flying international routes as they consider cuts in response to a drop in demand due to the coronavirus outbreak, state news agency Xinhua reported on Tuesday.

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Hong Kong’s Cathay Pacific Airways Ltd plans to cut around 30% of its capacity over the next two months, including around 90% of its flights to mainland China, as it grapples with the coronavirus epidemic, its CEO said on Tuesday.

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Hong Kong’s Cathay Pacific Airways Ltd plans to cut 30% of its global capacity over the short-term, including 90% of capacity to mainland China as it grapples with a sharp fall in demand due to the coronovirus epidemic, its CEO said on Tuesday.

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Oil prices clawed back ground on Tuesday amid hopes for new output curbs from OPEC and its allies to offset any potential drop in demand triggered by the coronavirus outbreak.

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BP raised its dividend and said it had completed a $1.5 billion share buyback program in a sign of confidence in its growing oil and gas business on the last day in office for Chief Executive Bob Dudley.

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Empty Chinese streets and karaoke bars will hit short-term sales in Carlsberg’s biggest market, but the Danish brewer said on Tuesday it was not changing its forecast or strategy for China as a result of the coronavirus outbreak.

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Mitsubishi UFJ Financial Group Inc (MUFG) , Japan’s largest lender by assets, reported a net loss in the third quarter, for the first time in nearly a decade, as its banking unit booked a one-off charge on an Indonesian subsidiary.

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Hyundai Motor said it will suspend production in South Korea due to the coronavirus outbreak disrupting parts supply, becoming the first major automaker to do so outside of China.

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