Business & Finance News
Chinese policymakers are readying measures to support an economy jolted by a coronavirus outbreak that is expected to have a devastating impact on first-quarter growth, policy sources said.
Sony Corp raised its annual profit outlook on strong sales of smartphone image sensors after reporting a smaller-than-expected decline in quarterly profit, but it warned of an impact from the Wuhan coronavirus on its global supply chain.
World markets bounced on Tuesday, with Chinese stocks reversing some of a previous coronavirus-related plunge amid official efforts to soothe nerves over the spreading outbreak, though sentiment remained fragile with oil near 13-month lows.
The global economic slowdown in the wake of China’s coronavirus outbreak is set to reduce global oil demand in 2020 by up to 0.5%, BP’s Chief Financial Officer Brian Gilvary said on Tuesday.
Siemens Gamesa Chief Executive Marcus Tacke said on Tuesday the wind turbine maker had acted quickly to make sure the impact of project delays that dragged it to a loss at the beginning of the year would not happen again.
Wind turbine maker Siemens Gamesa sees no major disruption to its supply chain as long as factories in China reopen quickly following the recent outbreak of a new coronavirus, its chief executive said on Tuesday.
Siemens Gamesa Chief Executive Marcus Tacke said on Tuesday the wind turbine maker had acted quickly to make sure the impact of project delays that dragged it to a loss at the beginning of the year would not happen again.
A German firm backed by bottled water giant Danone plans to launch a sparkling-water machine for the home early next year, its chief executive told Reuters, squarely taking aim at PepsiCo’s SodaStream.
Mitsubishi UFJ Financial Group Inc (MUFG) , Japan’s largest lender by assets, posted on Tuesday a 25.7 billion yen ($236 million) net loss in the third quarter, as its banking unit booked a one-off charge on an Indonesian subsidiary.
Glencore posted a 6% fall in fourth-quarter copper production and a 13% decline in cobalt as the miner and trader shut its Mutanda mine ahead of schedule.
BP on Tuesday raised its dividend and announced the completion of 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.
Danish jewelry maker Pandora , which is struggling to revive its brand amid sluggish sales, said on Tuesday it had seen an improvement in the fourth quarter but that it would not return to sales growth this year.
Commodity miner and trader Glencore Plc reported a 9% fall in fourth-quarter copper production on Tuesday, as its Mutanda mine in the Democratic Republic of Congo suspended operations prematurely in November.
Mitsubishi UFJ Financial Group Inc (MUFG) , Japan’s largest lender by assets, on Tuesday posted 25.7 billion yen ($236 million) net loss in the third quarter, as its banking unit booked a one-off charge on an Indonesian subsidiary.
BP on Tuesday boosted its dividend payout after a 26% drop in fourth-quarter profit on lower oil and gas prices which still beat forecasts.
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