Oil prices rose nearly 1% on Thursday, extending big gains from a day earlier, as the market worried about crude supply disruptions and demand concerns were cushioned after a sharp drop in new coronavirus cases at the epicenter of the outbreak.
Asian stocks edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic, while the Japanese yen nursed heavy losses after suffering its steepest drop in six months.
Blocked highways. Stranded workers. Dwindling supplies. Shipping and air freight companies also hamstrung.
Forever 21 has a new lease on life after Simon Property Group Inc , Brookfield Property Partners LP and Authentic Brands Group agreed to acquire the bankrupt teen fashion retailer.
Asian stocks eased and currency markets were skittish on Thursday, as virus cases rose in South Korea and Japan even as China added more stimulus via a rate cut to support its economy.
Asian shares and U.S. stock futures rose on Wednesday, as investors tried to shake off worries about the coronavirus epidemic after a slight decline in the number of new cases.
Deutsche Telekom forecast that growth in its core earnings would slow to 3% this year after a strong fourth quarter, as it looks finally to complete a merger that would create the third-largest U.S. wireless carrier.
Qatar Airways Group said on Wednesday it had increased its holding in British Airways-owner IAG to 25.1%, buying another stake worth $600 million as part of a strategy it described as being highly successful.
Metro Bank's interim chief executive officer, Dan Frumkin, will take over the CEO role on a permanent basis, the British lender said on Wednesday.
Investigators with India's antitrust watchdog have found no evidence that the country's biggest airline, IndiGo , and four rival carriers colluded to fix ticket prices, three sources with direct knowledge of the matter told Reuters.
While coronavirus fears curtail much of China's bustle, traders are getting back to business at the world's largest electronics market, buying and selling from bags and suitcases on the streets outside their shut premises.
Oil prices rose on Wednesday, with Brent gaining a seventh straight day, amid broad optimism as new coronavirus cases fell for a second day in China and concerns rose over supply after a U.S. move to cut more Venezuelan crude from the market.
German sportswear maker Adidas said on Wednesday that business in the Greater China area had dropped by about 85% year-on-year as the coronavirus outbreak has resulted in store closures and fewer customers visiting the remaining outlets.
Shanghai has compiled a list of firms, including local units of multi-nationals Unilever PLC and 3M Co , as eligible for millions of dollars in subsidized loans to ease any blow from the coronavirus outbreak, according to bankers and documents seen by Reuters.
SoftBank Group Corp said on Wednesday it plans to borrow up to 500 billion yen ($4.5 billion) from 16 domestic and foreign financial institutions using almost a third of its stake in telco SoftBank Corp as collateral.