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.
Oil futures fell for a sixth session on Tuesday as the spread of a new virus in China and several countries raised concerns about a hit to economic growth and oil demand.
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.
U.S. drugmaker AbbVie's $63 billion tie-up with Allergan is getting help from Nestle and AstraZeneca buying up products the Irish-domiciled company is shedding to placate regulators.
World shares fell to their lowest in two weeks on Monday as worries grew about the economic impact of China's spreading coronavirus with demand spiking for safe-haven assets such as Japanese yen and Treasury notes.
French consulting and IT services provider Capgemini succeeded in securing more than half of the capital of smaller rival Altran Technologies, the French market regulator AMF said on Monday, marking a win against U.S. activist fund Elliott.
EU antitrust regulators will decide by Feb. 27 whether to clear state energy firm Saudi Aramco's $69.1 billion acquisition of world number four petrochemicals group Saudi Basic Industries Corp (SABIC), a European Commission filing showed.
Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union.
India said on Monday it plans to sell its entire interest in Air India Ltd, making a renewed push to sell the flag carrier after it drew no bids in an effort to auction a majority stake almost two years ago.
U.S. stock index futures fell sharply on growing concerns about the financial fallout of a fast-spreading coronavirus outbreak in China as the country extended the Lunar New Year holidays and more big businesses shut down.