Global share markets plunged on Monday as panicked investors fled to the safety of bonds and the yen to hedge the economic trauma of the coronavirus, while oil plunged more than 30% after Saudi Arabia opened the taps in a price war with Russia.
Britain's Tesco plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group for an enterprise value of $10.6 billion.
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand.
Shares in Saudi Aramco plunged 10% in opening trade on Monday, following a sharp drop in oil prices after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil production next month.
China's business and travel activities are steadily recovering after being disrupted by the coronavirus outbreak, but rapidly rising infections globally will pose a challenge to the country's broader economic resumption.
ZDNet | Aimee Chanthadavong | March 2, 2020 When, and if, the new payments method is introduced to the Australian market. The Reserve Bank of Australia (RBA) said it is confident and well-prepared to regulate new payments technologies as they get introduced into the Australia market. Fronting the Select Committee on Financial Technology and Regulatory
Japanese stocks banking on the success of the Olympics this year are taking a hit as the rapid spread of coronavirus is threatening cancellation of the world's biggest sporting tournament.
CP Group's $10 billion deal to buy Tesco PLC's 2,000 Thai retail outlets marks the end of a three-way tycoon tussle - and the beginning of the first engagement for Thailand's newly powerful antitrust watchdog.
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.
Saudi Aramco shares fell 10% on Monday after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil production next month, prompting a sharp drop in prices.
Istvan Simon's factory in western Hungary churns out more than a million plastic parts a day but on a busy morning in one of its large production halls there is only the sound of machines clicking and whirring. Workers have all but disappeared.
Nissan Motor Co's vehicle sales in China, its biggest market, dropped 80% in February as coronavirus concerns sapped demand, in another blow to the carmaker which is struggling to recover from a profit free fall.
Global stocks plunged on Monday and prices for crude oil tumbled as much as 33% after Saudi Arabia launched a price war with Russia, sending investors already panicked by the coronavirus fleeing for the safety of bonds and the yen.
India's Yes Bank will not be merged with State Bank of India , which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.
Apple sold fewer than half a million smartphones in China in February, government data showed on Monday, as the coronavirus outbreak halved demand for all such devices.