Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
South Korea's Hyundai Motor said on Monday its sales fell 13% on-year to 275,044 vehicles globally in February amid a coronavirus outbreak that disrupted supply of parts from China.
Asian shares regained a measure of calm on Monday as markets bounced after a searing sell-off last week and as investors pinned hopes on a likely coordinated global monetary response to help soften the economic blow of the coronavirus outbreak.
The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict.
Nike's European headquarters in the Netherlands will be closed on Monday and Tuesday after an employee was infected with the coronavirus.
The Swiss National Bank posted an annual profit of 48.9 billion Swiss francs ($50.71 billion), the central bank said on Monday, and said it would double its payout to Switzerland's regional and central governments.
Nokia Chief Executive Rajeev Suri will step down in September and is to be replaced by Pekka Lundmark, until now the CEO of energy group Fortum, the telecoms equipment maker said on Monday.
Samsung Electronics has started building a $220 million research and development center in Vietnam, the South Korean tech giant's local unit said on Monday.
Asia's factories took a beating in February from the coronavirus outbreak with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a co-ordinated policy response by central banks to prevent a global recession.
South Korean budget carrier Jeju Air Co Ltd said on Monday it would acquire a 51% stake in competitor Eastar Jet for 54.5 billion won ($45.49 million), a lower price than previously announced.
Tens of thousands of ethnic Uighurs were moved to work in conditions suggestive of "forced labour" in factories across China supplying 83 global brands, and Australian think tank said in a report released on Sunday.
Lufthansa said on Monday that it was suspending flights to China until April 24 and to Tehran until April 30 due to the coronavirus outbreak.
Oil prices jumped more than 4%, up from multi-year lows hit earlier on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Nokia Chief Executive Rajeev Suri will step down in September and be replaced by Pekka Lundmark, who used to work for the Finnish company and is the current CEO of energy group Fortum, Nokia said on Monday.
Hyundai Motor reported its lowest monthly global sales in a decade in February as the coronavirus outbreak hurt demand, in what is the first major indicator of damage to the broader auto sector from the epidemic.