China’s building work stalls in February, as virus keeps workers indoors
China’s construction activities were stalled in February as the government extended Lunar New Year holidays and advised people to stay indoors as a precaution against a coronavirus outbreak.
Business travel sector to lose $820 billion in revenue on coronavirus hit: industry group
The global business travel sector is expected to take a revenue hit of about $820 billion, with China accounting for nearly half of the losses, as corporates curb travel plans in the face of the coronavirus epidemic, an industry body said http://bit.ly…
Oil extends gains as U.S. output cut hopes grow
Oil prices climbed for a second day on Wednesday as hopes U.S. producers would cut output lent support, but gains were capped by growing doubts about Washington’s stimulus package to fight the coronavirus, which continues to spread globally.
Citigroup hires Loretta Ko to head financial institution group
Citigroup has hired Loretta Ko to return to the investment bank and head its financial institutions group (FIG) for Hong Kong, the bank said on Wednesday.
Banks at risk of losing billions of dollars in fee-based revenues: study
Major banks are at risk of losing billions of dollars of fee-based retail revenue as they face increased regulatory pressure and growing competition from new entrants offering no-fee services, Accenture Plc said on Wednesday.
Telefonica, TIM plan joint bid for bankrupt Brazilian carrier Oi
Telefonica Brasil SA and TIM Participações SA have expressed interest in negotiating a joint offer to buy bankrupt Brazilian carrier Grupo Oi SA , the two companies said on Tuesday in securities filings.
Stocks fall as U.S. virus response disappoints investors
Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
Oil rises for second day amid hopes for output cut by U.S. producers
Oil prices climbed for a second day on Wednesday, lifted by hopes that U.S. producers will cut output, but gains were limited compared with Monday’s crash after Saudi Arabia and Russia triggered a price war.
Air freight rates skyrocket amid passenger flight cuts, Chinese factory restarts
Air freight rates are skyrocketing after the grounding of many passenger flights in Asia has left shippers scrambling to book limited spots on cargo planes as Chinese industrial production restarts, according to industry insiders.
Tesla scouting central U.S. for new factory, Musk says
Tesla Inc Chief Executive Officer Elon Musk said on Tuesday he was looking for locations in the central United States to build a new factory for the company’s electric pickup truck.
