Oil prices climbed more than 1% on Wednesday, boosted by news that OPEC and its producer allies are weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus.
Japanese trading house Marubeni Corp on Wednesday cut its full-year net profit forecast by 17% due to a one-off loss on its energy assets and lower profits from U.S. agri-business in the wake of a prolonged U.S.-Sino trade war.
The global oil market expects the coronavirus outbreak to create a large demand shock and keep volatility in spot prices elevated, Goldman Sachs said.
Korean Air CEO Cho Won-tae's mother and younger sister said on Tuesday they support the flag carrier's current leadership headed by Cho.
Danish brewer Carlsberg on Tuesday reported full-year sales broadly in line with expectations, helped by stronger sales in Asia, and said it expects to deliver mid-single-digit organic operating profit growth in 2020.
Hyundai Motor plans to gradually suspend production at its South Korean factories from Tuesday, the first global major automaker to do so outside China, due to supply chain disruptions caused by the coronavirus outbreak.
Takeda Pharmaceutical Co Ltd said it now expects an operating profit for the full year, as opposed to its earlier projection for a loss, due to stronger sales and cost savings from its integration with Shire Plc.
Oil prices rose on Tuesday, matching moves in other financial markets as investors regained calm after Monday's sharp sell-off on fears of the impact of the China coronavirus on demand for fuel sent crude to its lowest level in more than a year.
Sony Corp on Tuesday raised its annual profit outlook on the back of strong sales of image sensors for smartphones, after the company reported a smaller-than-expected decline in third-quarter profit.
Japanese trading house Mitsui & Co Ltd sees China's outbreak of a new coronavirus may slow manufacturing activities in automobile and other sectors, and possibly reduce steel product demand, the company's executive said on Tuesday.
For the first time in nearly 50 years, the U.S. Food and Drug Administration will examine asbestos testing for talc powders and cosmetics at a hearing on Tuesday.
Asian stocks bounced on Tuesday with Chinese markets reversing some of their previous plunge amid official efforts to calm virus fears, although investor sentiment remained fragile with oil near 13-month lows.
Amazon.com Inc Chief Executive Officer Jeff Bezos is urging a U.S. judge to dismiss a defamation lawsuit filed against him by the brother of his girlfriend Lauren Sanchez, Bloomberg reported https://www.bloomberg.com/news/articles/2020-02-04/bezos-urges-judge-to-dismiss-suit-by-girlfriend-s-brother?utm_campaign=socialflow-organic&utm_source=twitter&cmpid=socialflow-twitter-business&utm_medium=social&utm_content=business on Monday.
Glencore posted a 6% fall in fourth-quarter copper production and a 13% decline in cobalt as the miner and trader shut its Mutanda mine ahead of schedule.
BP on Tuesday raised its dividend and announced the completion of a $1.5 billion share buyback program in a sign of confidence in its growing oil and gas business on the last day in office for Chief Executive Bob Dudley.