While coronavirus fears curtail much of China's bustle, traders are getting back to business at the world's largest electronics market, buying and selling from bags and suitcases on the streets outside their shut premises.
Oil prices rose on Wednesday, with Brent gaining a seventh straight day, amid broad optimism as new coronavirus cases fell for a second day in China and concerns rose over supply after a U.S. move to cut more Venezuelan crude from the market.
German sportswear maker Adidas said on Wednesday that business in the Greater China area had dropped by about 85% year-on-year as the coronavirus outbreak has resulted in store closures and fewer customers visiting the remaining outlets.
Shanghai has compiled a list of firms, including local units of multi-nationals Unilever PLC and 3M Co , as eligible for millions of dollars in subsidized loans to ease any blow from the coronavirus outbreak, according to bankers and documents seen by Reuters.
SoftBank Group Corp said on Wednesday it plans to borrow up to 500 billion yen ($4.5 billion) from 16 domestic and foreign financial institutions using almost a third of its stake in telco SoftBank Corp as collateral.
Vodafone and Telekom Italia have offered to allow rivals access to sites in some cities for up to nine years, a proposal aimed at allaying EU antitrust concerns over the creation of Italy’s largest mobile tower company, according to an EU document seen by Reuters.
Qatar Airways has bought a $600 million stake in British Airways-owner IAG to increase its holding to 25.1%, advancing its strategy of building a global portfolio of international carriers.
A decline in the number of new coronavirus cases in China and mounting expectations for more policy stimulus boosted global stock markets on Wednesday, helping ease some of the alarm caused by an Apple revenue warning.
The merger between T-Mobile US and Sprint is within reach, the head of T-Mobile's main owner Deutsche Telekom said on Wednesday, vowing to go on the offensive to close a valuation gap with U.S. market leaders AT&T and Verizon.
Renault's shares fell on Wednesday after credit rating agency Moody's cut its rating on the French carmaker's debts to "junk" status.
BlackRock , the world's biggest asset manager, has appointed two executives to oversee Continental Europe for the first time as part of its efforts to expand in the region, a memo to staff on Wednesday seen by Reuters showed.
German sportswear makers Adidas and Puma both said on Wednesday that the coronavirus outbreak was hurting their business in China due to store closures and fewer Chinese tourists traveling and shopping in other markets.
The merger between T-Mobile US and Sprint is within reach, the head of its main owner Deutsche Telekom said, forecasting that the combined business would quickly close a valuation gap on market leaders AT&T and Verizon .
German sportswear group Puma on Wednesday said it expected China's coronavirus outbreak to hit its sales and profits in the first quarter but it still hopes to reach its targets for 2020.
General Motors will begin laying off around 1,500 employees in Thailand in June, after announcing the sale of its production plants in the country, a government official said on Wednesday.