Stocks across the world tumbled on Thursday as the death toll from a virus spreading in China reached 170, forcing airlines to cut flights and stores to close as the potential economic hit from the outbreak came into focus.
A rapidly spreading virus outbreak in China is emerging as a potentially major new risk to the global economy and leaving policymakers, still grappling with the impact of the Sino-U.S. trade war, fretting over the widening fallout.
Oil prices fell on Thursday as alarm spread over the economic impact of the Wuhan virus in China, while a bigger-than-expected increase in U.S. crude stocks added to the negative tone.
Frankfurt will no longer host the German auto show from 2021 after almost 70 years as the home of the annual exhibition of the industry's latest innovations, the VDA auto association said late on Wednesday.
Asian stocks and currencies tumbled further on Thursday, as the rising death toll from a virus spreading from China led airlines to cut flights and stores to close, increasing pressure on the world's second-largest economy as fears of a pandemic grow.
Swedish truck maker AB Volvo reported a smaller than expected fall in fourth-quarter earnings in the face of slowing demand and announced plans on Thursday for a payout to shareholders that exceeded market expectations.
Samsung Electronics Co is counting on a gradual recovery in memory chip demand from data centers and 5G smartphone makers to help it bounce back in 2020 after sliding to its worst operating profit in four years.
U.S. refineries and petrochemical plants are cutting back on insurance because several years of severe accidents have driven up the cost of coverage, industry and insurance sources said.
Oil prices fell on Thursday, resuming their declines after a brief pause earlier this week, as alarm spread over the economic impact of the Wuhan virus in China, while a bigger-than-expected increase in U.S. crude stocks added to the negative tone.
Japanese authorities on Thursday issued arrest warrants for a former U.S. special forces soldier and two other men on suspicion of smuggling former Nissan Motor Co boss Carlos Ghosn out of Japan.
A rapidly spreading virus outbreak in China is emerging as a potentially major new risk to the global economy and leaving policymakers, still grappling with the impact of the Sino-U.S. trade war, fretting over the widening fallout.
Swedish truck maker AB Volvo reported a smaller-than-expected fall in fourth-quarter earnings in the face of slowing demand and unveiled plans on Thursday for a payout to shareholders that blew past market expectations.
The U.S. economy likely maintained a moderate pace of growth in the fourth quarter, and probably again fell short of attaining the Trump administration's coveted but elusive 3% annual growth target because of slumping business investment amid damaging trade tensions.
Samsung Electronics Co is counting on a gradual recovery in memory chip demand from data centers and 5G smartphone makers to help it bounce back in 2020 after sliding to its worst operating profit in four years.
U.S. stocks dropped on Thursday as the coronavirus epidemic raised fears of a further hit to China's economy, with weak earnings from Facebook and others adding to the gloom.