February 2020 – Page 227

Fatalities Top 360 as China Returns From Holiday: Virus Update

February 3, 2020 admin Comments Off

(Bloomberg) — China tried to come to grips with the expanding coronavirus outbreak, with the death toll climbing as residents returned from the Lunar New Year holidays.Chinese stocks plunged the most since 2015 and commodity markets collapsed as trading resumed from the break. U.S. equity futures rose as China’s government took steps to cushion the financial blow.Global efforts to contain the virus escalated as the Philippines reported the first death outside of China and the U.S. confirmed more infections. Airlines in Asia, Europe and the Middle East stopped service to the mainland, while the U.S. began limiting the entry of …read more […]

Julius Baer to cut 300 jobs after 2019 profit drop

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Julius Baer will cut 300 jobs this year, its chief executive said on Monday, as the Swiss wealth manager looks to boost profitability after a double-digit percentage earnings fall during 2019.

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Impact of virus on China’s economy will be temporary: PBOC papers

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The impact from a virus epidemic on China’s economy will be limited and temporary, and the country’s financial markets will return to normal in the long run, a commentary in a newspaper owned by the central bank said on Monday afternoon.

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Edited Transcript of DD.N earnings conference call or presentation 30-Jan-20 1:00pm GMT

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Q4 2019 Dupont De Nemours Inc Earnings Call …read more […]

Panasonic posts higher profit on cost cuts, improved battery business with Tesla

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Panasonic Corp on Monday reported a 3% rise in third-quarter operating profit, beating analyst estimates, aided by cost cuts and an improvement at the joint battery business with Tesla Inc .

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China commodities nosedive as coronavirus raise consumption fears

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Chinese commodities markets slumped on the first trading day after an extended Lunar New Year break, with several futures contracts hitting downside limits on fears the spread of a new virus will hit demand in the world’s top commodities consumer. The most-active copper contract on the Shanghai Futures Exchange, iron ore on the Dalian Commodity Exchange and crude oil on the International Energy Exchange all fell by the maximum daily limit at the open, with copper down 7% and crude oil and iron ore down 8%. The losses in China followed declines in global markets since Jan. 24 …read more […]

Coronavirus tips jet fuel margins into biggest monthly fall in over a decade

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The suspension of flights to China by global airlines due to the coronavirus epidemic resulted in Asian refining margins for jet fuel in January showing their biggest monthly decline in a more than a decade.

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Ryanair says MAX woes could delay growth plans by up to two years

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Ryanair may have to push back its long-term target of flying 200 million passengers per year by as much as two years due to delays in the delivery of Boeing’s 737 MAX jet, Europe’s largest low-cost carrier said on Monday.

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Siemens Healthineers first-quarter profit falls on higher diagnostic gear costs

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Siemens Healthineers’ operating income slipped 11% in the first quarter, despite higher revenue, as the German company sold less profitable imaging machines and incurred ramp-up costs for its new blood-testing machines.

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Australia’s Westpac hit with U.S. class-action lawsuit

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Investor rights law firm Bernstein Liebhard has filed a class-action suit against Australia’s No. 2 lender, Westpac Banking Corp , accusing it of failing to monitor financial crime, the law firm said on Monday.

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Obituary: Bernard Ebbers, convicted of orchestrating WorldCom fraud, dead at 78

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Bernard Ebbers, who built WorldCom Inc into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday, his family said in a statement. He was 78.

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Asian shares sink as virus fears maul China’s markets

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Asian shares were dragged to near two-month lows on Monday by Chinese markets, which plunged on their first trading day after a long break on fears the coronavirus epidemic would hit demand in the world’s second-largest economy.

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Panasonic third-quarter profit rises 3%, beating estimates

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Panasonic Corp on Monday reported a 3% rise in third-quarter operating profit, beating analyst estimates, thanks to restructuring efforts and an improvement at the joint battery business with Tesla Inc

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Tele2 fourth-quarter tops forecast, launches new restructuring program

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Swedish telecoms operator Tele2 reported quarterly core earnings above market forecasts on Monday and proposed a higher ordinary dividend and a special dividend to be paid out for 2019.

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Knife Attacker Shot Dead in London Was a Convicted Terrorist

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British police shot and killed a man who had been recently released from prison after he stabbed two people. It was the second time in a few months that a person convicted of terrorism-related charges attacked people in London after being released. Photo: Ray Tang/Zuma Press …read more […]