Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers.
The dollar rose against the yen on Tuesday as Japanese investors and companies rushed to cover a greenback shortage before their fiscal year end, but sentiment remained fragile as the global coronavirus crisis worsened.
World stocks looked set to close their worst quarter since 2008 on a brighter note on Tuesday, as strong Chinese factory data held out hope for an economic revival even as much of the rest of the world shut down to fight the coronavirus.
The dollar rose against the yen on Tuesday amid fiscal year-end demand by Japanese companies and the Chinese yuan stood firm after a survey showed manufacturing returned to growth in March.
China's Huawei Technologies reported its smallest annual profit increase in three years, hurt by weak overseas sales amid an intensifying U.S. campaign to restrict its global expansion due to security concerns.
Volkswagen expects vehicle sales in China, the world's largest car market, to quadruple in March, it said, pointing to a recovery following the coronavirus pandemic.
Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that a durable near-term recovery is far from assured as the global coronavirus crisis knocks foreign demand and threatens a steep economic slump.
Oil recovered ground on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks to stabilize energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.
Deutsche Bank is set to ink a sponsorship deal with the local soccer team Eintracht Frankfurt, two people with knowledge of the matter said on Tuesday.
Japan Display said on Tuesday it has finalised a deal to raise $200 million from "an overseas customer," which sources have said is Apple.
The world's biggest advertising company WPP has pulled its dividend and share buyback and withdrawn its 2020 guidance after the coronavirus pandemic sparked the most uncertain time in its 35-year history.
Vivendi closed on Tuesday the sale of a 10% stake in Universal Music Group (UMG) - home to Taylor Swift and The Beatles - to a Tencent-led consortium, in a deal giving UMG an enterprise value of 30 billion euros ($33 billion).
Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks aimed at stabilising energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.
British chemical company Ineos said on Tuesday it will build a third hand sanitizer plant in France in 10 days to help with a European shortage.
IKEA, the world's biggest furniture brand, said on Tuesday it has started making protective gear such as aprons and facemasks for hospitals battling the spread of coronavirus, and aims to step up output further.