Reuters Business News

The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus, while the euro nursed losses after the European Central Bank disappointed by not cutting rates.

Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with completion targeted for 2022, it said on Friday.

An 80-year old man became the fourth patient in Hong Kong to die due to the coronavirus, a Nethersole Eastern Hospital spokeswoman said on Friday.

Singapore will deny from Monday entry or transit to visitors who have been in Italy, France, Spain or Germany in the last 14 days, as part of measures to control the fast-spreading coronavirus, the health ministry said on Friday.

Bob Dylan's upcoming concerts in Japan have been canceled because of the coronavirus outbreak, the tour organizer said on Friday.

China's Wuhan city, ground zero of the new coronavirus outbreak, reported five new cases on Friday, the second day in a row the tally has been less than 10, while no locally transmitted infections were reported in the rest of the country.

Governments and central banks readied more emergency measures to tackle the economic impacts of the coronavirus on Friday as Asian markets suffered their worst weekly crashes since the 2008 financial crisis.

Oil fell a third day as the horror show for crude investors continued on Friday amid panic about evaporating demand from the coronavirus pandemic, with Brent set for its biggest weekly loss since 1991 and U.S. crude heading for its worst week since 2008.

South Korea reported more recoveries from the coronavirus than new infections on Friday for the first time since its outbreak emerged in January, as a downward trend in daily cases raised hopes that Asia's biggest epidemic outside China may be slowing.

China's Wuhan city, ground zero of the new coronavirus outbreak, reported five new cases on Friday, the second day in a row the tally has been less than 10, while no locally transmitted infections were reported in the rest of the country.

Global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide.

Asia's stock markets crashed on Friday as panic gripping world financial markets deepened, and even haven assets such as gold and bonds were ditched to cover losses in the wipeout.

The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed by not cutting rates.

Oil prices fell on Friday for a third day, with Brent crude set for its biggest weekly drop since 1991 and U.S. crude heading for the worst week since 2008 as panic about plunging demand from the coronavirus outbreak grips the market.

The U.S. Trade Representative's office said it granted on Thursday exclusions from import tariffs for some medical products imported from China, including face masks, stethoscope covers and blood pressure cuff sleeves.

Juul Labs Inc said on Thursday co-founder James Monsees plans to leave the e-cigarette maker, stepping down as an adviser and board member.

The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed investors by not cutting rates.

Washington state on Thursday moved to formally repeal an aerospace tax break that benefited U.S. planemaker Boeing and avert looming European Union tariffs on U.S. goods.

Europe's Airbus on Thursday welcomed a move by Washington state to remove what it called "illegal subsidies" to Boeing, but said the U.S. planemaker had received billions of dollars in other subsidies and tax breaks.

Airlines on Thursday appealed for urgent government financial support as U.S. carriers rushed to cut flights to Europe in the wake of new U.S. travel restrictions aimed at combating the coronavirus outbreak, while United Airlines warned of U.S. travel disruption as the virus spreads domestically.