WASHINGTON/RIYADH/FRANKFURT – (Reuters) – In the days after a new virus was identified in China on Dec. 31, global central bankers fell back on past experience for a comforting early analysis. FILE PHOTO: A man wearing a face mask walks past a shop of a French luxury cosmetic brand Lancome at the…
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China firms in $10 billion share sale rush as funding rules eased amid virus worries
SHANGHAI (Reuters) – Listed Chinese companies are queuing up to issue shares and have already announced plans to raise more than $10 billion in the past week after fundraising rules were relaxed to help ease cash strains caused by the coronavirus. FILE PHOTO: A woman wearing a face mask crosses a road…
T-Mobile, Sprint amend merger terms, SoftBank takes a hit
(Reuters) – T-Mobile US (TMUS.O) and Sprint Corp (S.N) said on Thursday that they had agreed on new merger terms that would reduce the stake of major Sprint shareholder SoftBank, while leaving the offer to other shareholders unchanged. FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen in this…
Stocks head for worst week in four as coronavirus spreads
LONDON/SYDNEY (Reuters) – Shares across the world fell on Friday and were set for their worst week in four as investors dumped riskier assets for the safety of bonds and gold, with coronavirus cases in China and elsewhere spreading. FILE PHOTO: The German share price index DAX graph is pictured at the…
UniCredit shares fall at open after report Mustier vying for HSBC top job
FILE PHOTO: Unicredit bank CEO Jean Pierre Mustier poses during the shareholders meeting in Rome, Italy, January 12, 2017. REUTERS/Remo Casilli/File Photo MILAN (Reuters) – Shares in Italy’s biggest bank UniCredit fell more than 1% at open on Friday following reports Chief Executive Jean Pierre Mustier is being considered for the top…
China says to exempt extra tariffs on 65 U.S. goods from Feb. 28
BEIJING (Reuters) – China’s finance ministry said it will begin exempting 65 U.S. goods from retaliatory tariffs implemented amid the bilateral trade dispute with the United States for one year starting Feb. 28. Goods exempt from the extra tariffs include aircraft parts and medical equipment, according to documents published on the ministry’s…
Outbreak will not change China’s commitments to buy U.S. goods: senior U.S. official
WASHINGTON (Reuters) – The U.S. government expects China to honor its commitments to buy more U.S. goods under a trade deal signed by the world’s two largest economies in January despite the fast-spreading coronavirus outbreak, a senior U.S. official said on Thursday. FILE PHOTO: A truck carrying containers are seen near a…
Tod’s sees Coronavirus hit after ‘excellent’ start to 2020, pickup in six weeks
FILE PHOTO: The logo of Italian luxury shoemaker Tod’s is seen at the company’s store in Zurich, Switzerland April 25, 2019. REUTERS/Arnd Wiegmann/File Photo MILAN (Reuters) – Italian luxury leather goods maker Tod’s (TOD.MI) made an “excellent” start to 2020 before the coronavirus hit sales but the situation could start to improve…
China’s Geely starts online auto sales as virus epidemic keeps buyers at home
BEIJING (Reuters) – Chinese automaker Geely [GEELY.UL] has launched a service for customers to buy cars online and get them delivered directly to their homes, in a bid to drum up sales as the coronavirus outbreak prompts buyers to stay away from showrooms. FILE PHOTO: A building of the Geely Auto Research…
Oil falls 1% as spreading virus compounds concerns over demand hit
TOKYO (Reuters) – Oil prices fell around 1% on Friday, pressured by growing worries about fuel demand as a coronavirus epidemic spread further beyond China, and as major crude producers appeared to be in no rush to cut output to buttress the market. FILE PHOTO: Drilling rigs operate at sunset in Midland,…
News Quiz: Presidential Pardons, Michael Bloomberg, Coronavirus
Compiled by CHRIS STANFORD, WILL DUDDING and ANNA SCHAVERIEN FEB. 21, 2020 Did you follow the headlines this week? Take our quiz to find out. Last week, 97 percent of respondents correctly answered the question about the Academy Award-winning “Parasite.” Only 47 percent knew for which group Georgia had removed restrictions for…
Russia, Germany, Coronavirus: Your Friday Briefing
(Want to get this briefing by email? Here’s the sign-up.) Good morning. We’re covering an intelligence warning of Russian aid to the Trump campaign, Germany’s reckoning with a domestic terrorist attack and the post-Brexit immigration overhaul that will affect women. U.S. intelligence sees Russian help for Trump campaign Russia is aiding President…
The Long, Slow Death of the Australian Auto Industry
The Australia Letter is a weekly newsletter from our Australia bureau. Sign up to get it by email. This week’s issue is written by Besha Rodell, a columnist with the Australia bureau. The news this week that General Motors will drop the Holden brand, ceasing production of the 164-year-old make by 2021,…
Oil prices gain on supply threats; demand concerns from coronavirus ease
SINGAPORE (Reuters) – Oil prices climbed on Thursday, extending gains from the previous session, as the market shifted focus to supply disruptions, while demand concerns eased following a drop in new coronavirus cases at the epicenter of the outbreak. FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11,…
Manufacturers entangled in logistical nightmare as virus-hit China limps back to work
SHANGHAI/BANGKOK (Reuters) – Blocked highways. Stranded workers. Dwindling supplies. Shipping and air freight companies also hamstrung. FILE PHOTO: Workers wearing face masks load cargo to a truck next to containers at a railway cargo terminal, as the country is hit by an outbreak of the novel coronavirus, in Yinchuan, Ningxia Hui Autonomous…
Fed policymakers cautiously optimistic on U.S. economy despite new risks, minutes show
WASHINGTON (Reuters) – Federal Reserve policymakers were cautiously optimistic about their ability to hold interest rates steady this year, minutes of the central bank’s last policy meeting showed, even as they acknowledged new risks caused by the coronavirus outbreak. FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August…
Fed staff float plan to end term-repo after April, minutes show
FILE PHOTO: The Federal Reserve seal is seen during Chairman Jerome Powell news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, U.S., January 29, 2020. REUTERS/Yuri Gripas (Reuters) – Senior Federal Reserve staff proposed ending longer-term loans to banks after April…