Asian shares erased earlier gains on Wednesday, swinging into negative territory as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and fueled fears about the economic impact of the outbreak.
TAIPEI - Apple Inc supplier Foxconn said it could continue to meet all manufacturing obligations in the wake of a coronavirus outbreak in China even as the iPhone maker flagged uncertainty created by the disease.
Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day rout on talk that OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles also helped steady prices.
Facebook Inc and other global companies including LG Electronics Inc and Standard Chartered Plc are restricting travel to China, as the death toll from a flu-like virus rose above 100 on Tuesday.
European planemaker Airbus SE said on Tuesday that it has agreed to reach a settlement with French, British and U.S. authorities regarding a probe into allegations of bribery and corruption.
Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing.
At Exxon Mobil Corp, CEO Darren Woods' plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining.
Apple Inc's plan to ramp up iPhone production by 10% in the first half of this year may hit a roadblock as the coronavirus outbreak spreads across China, the Nikkei Asian Review reported on Tuesday.
Shares of companies highly exposed to China's economy tumbled across Asia on Tuesday on rising concern about the impact of global travel bans associated with a new virus outbreak, and even as some stocks involved in preventative health spiked.
The boss of British supermarket group Sainsbury's , Mike Coupe, said he was not stepping down in May because of his failure to buy rival Asda last year.
Airbus has agreed in principle to a settlement with French, British and U.S. authorities over an investigation into allegations of bribery and corruption, it said on Tuesday.
There is an even balance in the share of U.S. businesses reporting decreases and increases in employment for the first time in a decade, a survey showed on Monday, the latest suggestion that the labor market has likely peaked and job growth could slow this year.
Shares tumbled on Monday as investors grew increasingly anxious about the economic impact of China's spreading virus outbreak, with demand spiking for safe-haven assets such as the Japanese yen and Treasury notes.
Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand.
Crude prices extended declines on Monday, dropping below $60 for the first time in nearly three months as the death toll from China's coronavirus rose and more businesses were forced to shut down, stoking expectations of slowing oil demand.