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EssilorLuxottica forecasts profit growth despite coronavirus impact

Reuters Business News - Fri, 03/06/2020 - 03:28
EssilorLuxottica expects continued profit growth this year after stronger 2019 results, saying on Friday the outbreak of coronavirus had not hit output at its Italian factories and its production in China was getting back to normal.
Categories: Reuters

Oil drops on demand doubts, fears that producer output cuts not yet agreed

Reuters Business News - Fri, 03/06/2020 - 02:40
Oil slid 1% on Friday as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices.
Categories: Reuters

India's Yes Bank plunges 35% as central bank takes control

Reuters Business News - Fri, 03/06/2020 - 02:39
Shares in India's Yes Bank dropped nearly 35% on Friday to their lowest in more than a decade, after the central bank took control and set a limit on withdrawals because of a serious deterioration in its financial position.
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Timeline: India central bank takes control of bad loan-burdened Yes Bank

Reuters Business News - Fri, 03/06/2020 - 02:38
India's central bank took control of the country's fifth-largest private sector lender Yes Bank on Thursday and imposed limits on withdrawals, spreading confusion and fear among account holders.
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On the brink: China's bakers, bars and beauty spas struggle to survive coronavirus

Reuters Business News - Fri, 03/06/2020 - 02:29
The coronavirus outbreak in China is pushing many small businesses to the brink, as efforts to stem its spread left usually bustling streets deserted and malls shut or empty.
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Facebook, Google ask San Francisco staff to work from home as coronavirus spreads

Reuters Business News - Fri, 03/06/2020 - 02:15
Social media giant Facebook Inc and Alphabet Inc's Google on Thursday recommended their San Francisco Bay area employees work from home to minimize the risk of spreading coronavirus.
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Facebook, Google ask San Francisco staff to work from home amid coronavirus

Reuters Business News - Fri, 03/06/2020 - 01:35
Social media giant Facebook Inc and Alphabet Inc's Google on Thursday recommended their San Francisco Bay area employees to work from home to minimize the risk of spreading Covid-19.
Categories: Reuters

How Lipper Award-winning fund managers are playing coronavirus scare

Reuters Business News - Fri, 03/06/2020 - 01:08
Uncertainty over the economic impact of the coronavirus outbreak has prompted at least some winners of the U.S. Lipper Fund Awards to look for companies that can withstand a prolonged pullback.
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'Unsustainable': Mexico's Pemex buckling under crushing pension debt

Reuters Business News - Fri, 03/06/2020 - 01:02
Straining under a massive debt load and at risk of a ratings downgrade, Mexican state oil company Petroleos Mexicanos (Pemex) was hit with a record jump in its pension liabilities last year as more workers retired on generous benefits.
Categories: Reuters

Stocks battered by Treasury rally as virus sparks shake out

Reuters Business News - Fri, 03/06/2020 - 00:32
Asian shares and U.S. stock futures tumbled on Friday as disruptions to business from the coronavirus worsened, stoking fears of a prolonged global economic slowdown.
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Cathay Pacific to close Vancouver cabin crew base, cutting 147 roles

Reuters Business News - Fri, 03/06/2020 - 00:19
Hong Kong's Cathay Pacific Airways Ltd said on Friday it was closing its Vancouver cabin crew base, laying off 147 crew members, as part of an ongoing business review.
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U.S. employment report expected to show strength before coronavirus spread

Reuters Business News - Fri, 03/06/2020 - 00:16
U.S. job growth likely slowed in February, but the pace probably remained consistent with a healthy labor market despite the coronavirus outbreak, which stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
Categories: Reuters

Oil slips amid demand concern, fears over OPEC+ deal for deeper output cuts

Reuters Business News - Thu, 03/05/2020 - 23:42
Oil slid nearly 1% on Friday as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices.
Categories: Reuters

HSBC sends home 100 London staff, confirms China coronavirus case

Reuters Business News - Thu, 03/05/2020 - 23:21
HSBC Holdings PLC has sent home more than 100 staff in London after a worker tested positive for the coronavirus, the first known case at a major company in Europe's main financial hub.
Categories: Reuters

Probe panel on Kansai Elec's graft scandal to report findings on March 14

Reuters Business News - Thu, 03/05/2020 - 22:36
An independent committee investigating a graft scandal at Kansai Electric Power Co , Japan's second-largest utility, will release its findings on March 14, a representative of the committee said on Friday.
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South Korea, Japan to hold export control talks via teleconference, Jiji says

Reuters Business News - Thu, 03/05/2020 - 22:17
South Korea and Japan will hold export control talks originally planned for March 10 in Seoul via teleconference, the Jiji news agency reported on Friday, reflecting the widening impact of the coronavirus outbreak.
Categories: Reuters

Stocks suffer, Treasury yields plumb new depths as virus spreads

Reuters Business News - Thu, 03/05/2020 - 21:18
Asian shares and U.S. stock futures fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.
Categories: Reuters

JPMorgan CEO Jamie Dimon undergoes emergency heart surgery

Reuters Business News - Thu, 03/05/2020 - 21:03
JPMorgan Chase & Co Chief Executive Jamie Dimon is recovering from emergency heart surgery that took place on Thursday morning, with two deputies taking over as he recuperates, the bank said.
Categories: Reuters

Airlines suspend flights due to coronavirus outbreak

Reuters Business News - Thu, 03/05/2020 - 20:48
Airlines have been suspending flights or modifying services in response to the coronavirus outbreak.
Categories: Reuters

Trump says U.S. economy could take hit from coronavirus

Reuters Business News - Thu, 03/05/2020 - 20:45
President Donald Trump said on Thursday the U.S. economy might take a hit from the coronavirus outbreak but predicted the challenge would eventually pass and defended his handling of the crisis.
Categories: Reuters
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