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Honda Motor Co Ltd will temporarily cut back production in Japan due to difficulty in sourcing parts from China amid the coronavirus outbreak, Nikkei Asian Review reported on Monday citing sources at auto parts suppliers and dealers.

Italy's Banco BPM is rushing to set up new "disaster recovery rooms" after an area close to one of its existing crisis facilities emerged as the epicenter of the coronavirus outbreak, three sources familiar with the matter said.

U.S. stock indexes rose sharply on Monday, prompted by bargain hunting and on reassurances by central banks that they stood ready to counter any economic impact from the coronavirus.

UBS Group Chief Executive Sergio Ermotti is poised to become chairman of Swiss Re next year after leaving the helm of Switzerland's biggest bank, three people familiar with the matter told Reuters.

Oil prices rose over 5% on Monday, reversing an early fall to multi-year lows 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.

Britain on Monday unveiled its mandate for trade talks with the United States, with Prime Minister Boris Johnson vowing to drive a hard bargain in negotiations that are set to test the two allies' "special relationship".

British trade minister Liz Truss said she wanted with the United States to agree to the removal of retaliatory tariffs on some British and U.S. products over EU subsidies on large aircraft early in trade negotiations to show goodwill.

Shares in Apple surged 6.9% on Monday, helped by a broad Wall Street rebound and an upgraded rating from an analyst who said the iPhone maker's stock had become oversold following last week's rout related to fears about the new coronavirus.

G7 finance ministers are expected to hold a conference call on Tuesday to discuss measures to deal with the economic impact of the coronavirus outbreak, people familiar with the arrangements told Reuters.

Jack Welch, one of the most influential business leaders and former chief executive officer of General Electric Co , has died at the age of 84.

The U.S. central bank will deliver a big dose of stimulus starting this month in a bid to protect the world's biggest economy from the impact of the coronavirus, traders of futures contracts tied to Federal Reserve policy are betting.

Ryanair will cut capacity in and out of Italy, its largest market, by 25% for three weeks due to a significant drop off in bookings since a coronavirus outbreak, Europe's biggest low-cost airline said on Monday.

The White House will hold meetings this week with top executives from U.S. airlines and the cruise industry amid the growing coronavirus outbreak, a spokeswoman for Vice President Mike Pence confirmed Monday.

Banks and exchanges in Europe are readying out-of-town offices, splitting shifts and isolating some teams to ensure they can keep trading if coronavirus spreads in more major financial centers.

Gilead Sciences Inc said on Monday it would buy Forty Seven Inc for $4.9 billion in cash, adding an experimental treatment that targets blood cancer to its portfolio of oncology drugs.

Britain said on Monday it would consider opposition to its plan to impose a new digital tax on big tech companies like Google, Facebook and Amazon as part of its ambition to agree a free trade deal with the United States.

Britain is aiming to begin negotiations on a post-Brexit trade deal with the United States as quickly as possible, trade minister Liz Truss said on Monday.

Global 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 coordinated policy response by central banks to prevent a global recession.

British Airways on Monday said it was cancelling some flights from London to the United States to match reduced demand for flying due to the impact of a new coronavirus on consumer sentiment.

U.S. stock indexes rose on Monday, recovering from steep declines amid a spell of bargain hunting, while investors hoped that monetary stimulus from central banks would help tide over the potential economic impact of the coronavirus.