Mallinckrodt Plc is finalizing a settlement proposal of at least $1.6 billion that would place its U.S. generic drug business into bankruptcy to address the debt maturities and liabilities arising out of the opioid crisis, the Wall Street Journal reported on Monday.
(Bloomberg) — The spread of the coronavirus outbreak to regions from Italy to Iran sparked concerns about a pandemic, with the number of cases worldwide topping 80,000.Global stocks tumbled after Italy reported at least six deaths and more than 200 confirmed cases. The U.S. Centers for Disease Control and Prevention warned Americans to avoid non-essential travel to South Korea. The North Asian nation reported another 60 cases, bringing its total number of infections to 893.China’s death toll rose to 2,663, an increase of 71. Total coronavirus cases on the mainland climbed to 77,658 as Hubei province reported 499 additional infections.While …read more […]
Big Hit Entertainment, the music label of South Korean boy band BTS, has chosen JPMorgan , NH Investment and Securities and others to handle its initial public offering (IPO), according to media reports.
Oil rose on Tuesday as investors snapped up bargains after crude benchmarks dropped almost 4% in the previous session, but fears that the spreading coronavirus could wreak far greater economic damage than initially thought capped gains. U.S. crude futures climbed 22 cents, or 0.4%, to $51.65, recovering from a 3.7% drop in the previous session. “WTI has regained some ground as investors looked for bargains and as the (U.S.) benchmark slipped neared a key support level of $50 per barrel,” said Satoru Yoshida, a commodity analyst with Rakuten Securities. …read more […]
Oil rose on Tuesday as investors snapped up bargains after crude benchmarks dropped almost 4% in the previous session, but fears that the spreading coronavirus could wreak far greater economic damage than initially thought capped gains.
Asian share markets were trying to stabilize on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce, allowing investors to take a break from coronavirus fears.
(Bloomberg) — Hong Kong stock investors are the worst off in 16 years relative to the rest of the world as concerns mount over the impact of the coronavirus on an economy already reeling from last year’s protests.The Hang Seng Index is near its lowest level relative to the MSCI All Country World Index since 2004, even after Monday’s brutal sell-off in the U.S. The Hong Kong gauge has also decoupled from mainland equities, falling to a three-year low relative to the CSI 300 Index.Hong Kong already faced a gloomy outlook before the coronavirus emerged, as months of political unrest …read more […]
(Bloomberg) — U.S. stock-index futures rose on Tuesday in Asia as some investors deemed that Monday’s equity rout brought prices to attractive levels.S&P 500 Index futures contracts expiring in March rose 1% as of 10:22 a.m. in Tokyo, while contracts climbed 0.8% for the Dow Jones Industrial Average and advanced 1.2% for the Nasdaq 100.Overnight, U.S. equities slumped amid growing concerns that the novel coronavirus is spreading more widely outside China. All three main U.S. stock benchmarks fell more than 3%, with the S&P 500 dropping the most since February 2018. Japan’s stock market also slid Tuesday morning.“U.S. futures are …read more […]
After less than three months of focusing on the day to day operations of Expedia Group, chairman Barry Diller and vice chairman Peter Kern took their first overt steps in reshaping the company with plans to lay off 12 percent of its workforce. Expedia Group’s leadership sent an email Monday to employees globally saying it […] …read more […]
Asian shares extended losses on Tuesday amid fears the coronavirus was rapidly mutating into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought. Sovereign bond yields dived as investors sought the most liquid of safe havens and wagered central banks would have to ride to the rescue with a burst of new stimulus. In all, they imply more than 50 basis points of reductions by year end. …read more […]
Asian shares extended losses on Tuesday amid fears the coronavirus was rapidly mutating into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought.
Shake Shack Inc expects its delivery sales to be volatile throughout 2020 after its move last year to an exclusive partnership with third-party platform Grubhub Inc , it said on Monday.
Digital banking app Revolut has raised $500 million in a fresh funding round, confirming the British-based business as one of the world’s most valuable financial technology firms with a valuation of $5.5 billion.
(Bloomberg) — Mastercard Inc. lowered its three-week-old forecast for quarterly revenue growth as the spreading coronavirus curbs international travel and even takes a bite out of e-commerce, a business executives had hoped would be immune.The credit-card network said it’s knocking 2 to 3 percentage points off the prediction it made on an earnings conference call Jan. 29. That translates to growth of 9% to 10% on a currency-neutral basis, excluding acquisitions, it said Monday. Shares of Mastercard and Visa Inc. dropped in after-hours trading.“Cross-border travel, and to a lesser extent cross-border e-commerce growth, is being impacted,” Mastercard said in a …read more […]
United Airlines Inc on Monday withdrew its full-year 2020 guidance, citing heightened uncertainty over how the duration and spread of the coronavirus to other regions could impact overall air travel demand.
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