Chinese non-life insurers are discovering a silver lining to the cloud spreading over China's economic performance from the coronavirus outbreak - a sharp drop in car accident claims.
Investor worries about corporate credit are heating up as the coronavirus spreads, with the prices of bond funds taking a hit, companies starting to draw on credit lines and some market watchers warning of the possibility that investors pull out of products.
Auto sales in China plunged 79% in February, marking their biggest ever monthly decline, with demand pummeled by the coronavirus outbreak.
Financial markets reeled on Thursday as stocks dived and oil slumped after U.S. President Donald Trump took the dramatic step of banning travel from Europe to stem the spread of coronavirus, threatening more disruptions to trade and the world economy.
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy - a sharp rise in payouts at a time of big investment losses.
Oil prices fell for the second straight day on Thursday amid a broad decline in global markets after the United States banned travel from Europe following the World Health Organization's decision to declare the coronavirus outbreak a pandemic.
A clampdown on European travel to the United States will heap more pressure on airlines already reeling from the coronavirus pandemic, analysts said, raising the odds of government relief packages as billions of dollars of tourist spending vanish.
Chinese airlines reported a total loss of 20.96 billion yuan ($3 billion) in February as the coronavirus epidemic spread and hit travel demand, the aviation regulator said on Thursday.
Financial markets reeled on Thursday as stocks dived and oil slumped after U.S. President Donald Trump took the dramatic step of banning travel from Europe to reduce the impact of the coronavirus, threatening more disruptions to trade and the world economy.
HBR | Martin R, Lars F, Cinthia C, Philipp C and Kevin W | March 10, 2020 As the Covid-19 crisis spreads to new epicenters in Europe and the U.S., companies are scrambling to mobilize responses. There are no easy answers, due to the unpredictability of disease dynamics, a lack of relevant prior experience, and
U.S. stock indexes fell sharply at the open on Wednesday as investors were skeptical about President Donald Trump's stimulus plan to combat the coronavirus epidemic.
The rebound in stocks ran out of steam on Wednesday despite the Bank of England joining other central banks in cutting interest rates, as investors weighed up whether coordinated monetary and fiscal stimulus could counter the shock from coronavirus.
U.S. consumer prices unexpectedly rose in February but are likely to decline in the months ahead as the coronavirus outbreak depresses demand for some goods and services, outweighing price increases related to shortages caused by disruptions to the supply chain.
For retirement savers who want to reap a return, there are still some options out there, but with added risk.
Oil prices fell on Wednesday after Saudi Arabia and the United Arab Emirates announced plans to boost production capacity and the coronavirus fed worries about demand.