Asian shares turn red as Hong Kong tumbles on China virus
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.
Oil rises as investors take stock of economic hit from virus
Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day fall on talk OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.
Renault turns to VW’s De Meo as car maker seeks fresh start
Renault’s Tuesday named Luca de Meo, the former head of Volkswagen’s Seat brand, as its next chief executive, as the car maker looks to draw a line under a year of turmoil by finalizing a long-awaited management shake-up.
Asian stocks rise as Apple drives tech gains, virus worries ease
Asian shares rose on Wednesday as better-than-expected Apple Inc earnings drove some regional tech gains although broader confidence was capped by worries about the economic impact of China’s virus outbreak.
JPMorgan plans to cut hundreds of jobs in consumer unit: Bloomberg
U.S. bank JPMorgan Chase & Co is planning to cut hundreds of jobs across its consumer division, Bloomberg reported https://bloom.bg/2GsDvzw on Tuesday, citing people briefed on the matter.
Nissan says it plans to sell 1.6 million cars in China this year
Japanese carmaker Nissan Motor Co said on Wednesday it planned to sell about 1.6 million vehicles in China, the world’s biggest auto market.
Proton-packed Geely takes on Honda and Toyota in Southeast Asia
Li Chunrong was hired by Chinese automaker Geely to revive the fortunes of the Proton brand in Malaysia, and it took him two years to eclipse Japanese giants Honda and Toyota. Now he plans to take the fight across Southeast Asia and beyond.
Apple’s iPhone back to growth as company braces for coronavirus impact
The iPhone is back. But Apple is girding for more disruptions in virus-hit China.
‘Flash crash’ trader sentenced to time served plus a year of home confinement: lawyers
A Chicago-based U.S. federal district court judge on Tuesday sentenced Navinder Sarao, a London-based trader accused of contributing to Wall Street’s 2010 “flash crash”, to time already served in jail of four months, with a year of home confinement, Sa…
EBay forecast disappoints amid competition from Amazon, Walmart
EBay Inc forecast first-quarter revenue below analysts’ estimates on Tuesday, as the e-commerce company faces fierce competition from Amazon.com Inc and Walmart Inc .
