Company news

Oil sinks on pressing demand problems as nCoV spreads on global scale

SINGAPORE- Oil lost an estimated 3% earnings and fell close to hitting one-week low on Monday as the rapid coronavirus contagion outside China dampened markets sentiment and made investors wary on dwindling crude demand. Global shares also ...
24.02.2020

Shares inch down, gold soars as investors take refuge far from nCoV impact

SYDNEY- Global shares and oil both underperformed on Monday. However, safe-haven gold became the sought-after asset as coronavirus contagion outside China inflicted world economic outlook with diagnoses and deaths bloating in South Korea, Italy, ...
24.02.2020

Japan assails U.S. digital tax proposal during G20

Japan, represented by Finance Minister Taro Aso, assailed the tax reform proposal presented by the United States saying that it could compromise or disable global efforts to agree on new rules in imposing taxes on huge tech firms. The finance ...
24.02.2020

Buffett’s Berkshire regains rising stocks, smashes old record profit

Warren Buffett’s Berkshire Hathaway Inc. reported a 23% decline in its quarterly operating profit, while rising prices in many stock holdings allowed the conglomerate to top its past full-year earnings. Buffett explained Berkshire’s ...
24.02.2020

Teck withdraws C$20.6 billion application for oil sands Frontier project

Canada’s Teck Resources Ltd. pulled back the request to build a C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, which had been heavily criticized by environmentalists and indigenous groups and is on the final stage ...
24.02.2020

Asian currencies drop as investors flee to safe haven assets amid news of virus spreading beyond China

Asian currencies drop as investors flee to safe haven assets amid news of virus spreading beyond China Asian currencies fell on Monday following news of the rapidly spreading coronavirus being reported on several countries outside of China. ...
24.02.2020

PepsiCo agrees to buy Chinese snack brand Be & Cheery for $705 million

PepsiCo agrees to buy Chinese snack brand Be & Cheery for $705 million PepsiCo Inc has agreed to buy the China-based snack brand Be & Cheery from Haoxiangni Health Food Co Ltd for $705 million, according to the companies. Haoxiangni ...
24.02.2020

Oil declines as larger nCoV contagion brings demand concerns

TOKYO- Oil prices underperformed on Friday as concerns regarding demand continue to disturb investors. Such inactivity followed after the coronavirus contagion encroached territories outside China while leading oil manufacturers launched to ...
21.02.2020

Japan’s manufacturing sector suffers on coronavirus impact

TOKYO- Japanese manufacturing activity experienced the sharpest decline in seven years in February, as series of impact and disruptions brought by the coronavirus contagion boosted the possibility of a recession in the world’s third-largest ...
21.02.2020

Dollar dominates market, yen & Asian currencies drop over virus risks

The Japanese yen is nearing its worst week in over two years on Friday as coronavirus concerns spread to Japan, Beijing, and South Korea, moving funds to the U.S. dollar. The yen dropped to its lowest since April after two straight days of ...
21.02.2020

Japan suffers economic woes, BOJ under pressure

Japan’s core consumer inflation barely recovered in January. This had put pressure on the Bank of Japan to maintain its massive monetary stimulus to underpin the economy weakened by slow growth and weak prices. Tame inflation is cause ...
21.02.2020

UK-EU transition extension course fades, favors goods-only agreement: tracker reveals

The Brexit transition period slated until December 2020 to negotiate with its former bloc, the European Union is less likely to happen, according to a poll conducted by Reuters in which more than half or two-thirds of economist-respondents ...
21.02.2020

Morgan Stanley to strike a $13 billion deal with E*Trade

Morgan Stanley to strike a $13 billion deal with E*Trade Morgan Stanley said on Thursday that it would buy E*Trade Financial corp in a stock deal amounting around $13 billion. The deal with the discount brokerage has been seen as the biggest ...
21.02.2020

Samsung appoints former finance minister Bahk Jae-wan as new board chairman

Samsung appoints former finance minister Bahk Jae-wan as new board chairman Samsung Electronics said on Friday that former finance minister Bahk Jae-wan had been appointed as the tech giant’s new board chairman after his predecessor was ...
21.02.2020

China cuts benchmark lending rate to support virus-hit economy

China had cut the benchmark lending rate on Thursday in a widely-anticipated action to lessen its business’ financing costs in an economy disrupted by the virus outbreak. The one-year loan prime rate (LPR) was lowered by 10 basis points ...
20.02.2020

Dollar favoured safe haven over yen amid virus fallout

Investors preferred the dollar as safe haven as the yen suffered a sudden drop, causing investors to dodge local assets. Most currencies, from the Australian dollar to the Indian rupee were troubled as the virus’ impact caused investors ...
20.02.2020

Yen drops as virus risks lessen, yuan eases after rate cut

The Japanese yen dropped to a near nine-month low against the dollar as investors recover gain appetite, hoping that China can reduce the impact of the virus outbreak. The yuan was down in onshore trade against the dollar after China cut benchmark ...
20.02.2020

S&P and Nasdaq close on record gains amid hopes on new China stimulus

The S&P 500 and Nasdaq closed at record highs on Wednesday amid expectations of a newly-issued stimulus from Beijing to soften the economic impact of the coronavirus. The spread of the virus had been reported to show signs of  slowdown ...
20.02.2020

Oil advances on supply concerns, demand worries alleviate

Oil clocked in an estimated 1% gains on Thursday, continuing its upward movement from Wednesday as the market was dampened by supply sentiments. In line with this, demand concerns were minimized following a big decline in new novel coronavirus ...
20.02.2020

NCoV may bring risks to global economy’s frail recovery: IMF

WASHINGTON- The coronavirus contagion has already brought intensive level of tension in China’s economy and further spread of the virus to other nations could inflict more damage to an already weak recovery of global economy, the International ...
20.02.2020
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