Tesco plans to return $6.6 billion to shareholders after it agreed to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group as part of a plan to refocus on Britain.
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.
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 worried by the coronavirus fleeing for the safety of bonds and the yen.
The Maldives has curbed movement on several resort islands, authorities said on Sunday, after the country reported its first two cases of coronavirus.
Pacific Investment Management Co (PIMCO), one of the world's largest investment firms, told clients on Sunday the coronavirus outbreak is likely to cause a relatively mild and short recession though tight credit markets could worsen the downturn.
Brazilian and U.S. governments signed on Sunday an agreement for development of defense projects that may give the South American country access to financing.
The words "bear market" and "recession" are being used with increasing frequency as investors try to assess how badly the coronavirus outbreak will damage global growth and to what extent it could further weigh on asset prices.
Global share markets tumbled on Monday as panicked investors fled to bonds to hedge the economic shock of the coronavirus, and oil plunged more than 20% after Saudi Arabia slashed its official selling price.
Vehicle sales of automakers in China, the world's biggest car market, tumbled in February as customers stayed at home and away from dealerships amid the coronavirus epidemic that has killed 3,100 people in the world's second-biggest economy.
Shares of Saudi state oil company Aramco fell below their initial public offering (IPO) price on Sunday for the first time since they began trading in December after the OPEC oil supply cut pact with Russia fell apart on Friday.
Oil prices plunged around 25% on Monday, heading towards their biggest daily loss since 1991 after Saudi Arabia slashed prices and set plans for a big increase in crude production in April.
U.S. stock futures plunged 5% to hit their daily down limit and halt trading after the biggest single-day loss in oil futures in almost 30 years on Sunday exacerbated fears of a credit crunch across financial markets.
Airport passenger traffic in the Asia-Pacific region is expected to take a 24% hit in the first quarter from the coronavirus, leading to a $3 billion decline in airport revenue and placing pressure on growth projects, an industry group said on Monday.
Asian shares sank in a sea of red on Monday as panicked investors fled to bonds to hedge the economic shock of the coronavirus, and oil plunged more than 20% after Saudi Arabia slashed its official selling price.
Financial markets have been thrown into turmoil following Saudi Arabia's response to the collapse of OPEC+ talks and concerns about the global spread of the coronavirus.