Shares of companies highly exposed to China’s economy tumbled across Asia on Tuesday on rising concern about the impact of global travel bans associated with a new virus outbreak, and even as some stocks involved in preventative health spiked.
The boss of British supermarket group Sainsbury’s , Mike Coupe, said he was not stepping down in May because of his failure to buy rival Asda last year.
(Bloomberg) — President Rodrigo Duterte is cracking down on some of the Philippines’ biggest businesses, pushing a populist agenda that’s endearing him to his supporters while putting off investors.The nation’s stock market has dropped as much as 11% from its 2019 peak and valuation has fallen to its lowest since 2011 relative to peers as Duterte stepped up his attacks last month. The 74-year-old leader whose drug war has killed thousands saw his popularity hit a new high last quarter.The benchmark index fell 1.6% on Tuesday, its second straight day of decline. Duterte is scheduled to have a televised interview …read more […]
Oil futures steadied on Tuesday after five days of declines on concerns a virus outbreak in China could dent demand for oil, with some analysts suggesting the falls may be overdone.
Airbus has agreed in principle to a settlement with French, British and U.S. authorities regarding a probe into allegations of bribery and corruption, it said on Tuesday.
At Exxon Mobil Corp , CEO Darren Woods’ plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining. Another year of poor profit could require Exxon to re-evaluate its bold spending plans or weaken its ability to weather the next oil-price downturn, say oil analysts. Exxon already must borrow or sell assets to help cover shareholder dividends. …read more […]
At Exxon Mobil Corp, CEO Darren Woods’ plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining.
Apple Inc’s plan to ramp up iPhone production by 10% in the first half of this year may hit a roadblock as the coronavirus outbreak spreads across China, the Nikkei Asian Review reported on Tuesday.
European planemaker Airbus SE said on Tuesday that it has agreed to reach a settlement with French, British and U.S. authorities regarding a probe into allegations of bribery and corruption.
Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing.
Spot gold fell 0.1% to $1,579.38 per ounce by 0456 GMT, after hitting a near three-week peak on Monday. U.S. gold futures edged higher by 0.1% to $1,578.10. Gold prices rose for the past four sessions as the spread of the coronavirus rattled financial markets and prompted authorities to impose travel restrictions and extend the Lunar New Year holidays. …read more […]
Facebook Inc and other global companies including LG Electronics Inc and Standard Chartered Plc are restricting travel to China, as the death toll from a flu-like virus rose above 100 on Tuesday.
(Bloomberg) — Apple Inc.’s China-centric manufacturing base is at risk of disruption after the Lunar New Year holiday as the company’s partners confront the coronavirus outbreak that has gripped the country and caused more than 100 deaths.Virtually all of the world’s iPhones are made in China, primarily by Foxconn’s Hon Hai Precision Industry Co. at its so-called iPhone City in Zhengzhou and by Pegatron Corp. at an assembly site near Shanghai. Each of those locations is more than 500 kilometers away from Wuhan in central China, the epicenter of the viral outbreak, but that distance doesn’t immunize them from its …read more […]
Oil futures fell for a sixth session on Tuesday as the spread of a new virus in China and several countries raised concerns about a hit to economic growth and oil demand.
Last week, you might have seen that Telefonaktiebolaget LM Ericsson (publ) (STO:ERIC B) released its full-year result… …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
