Oil bounces 8% on stimulus hopes, virus slowdown in China
Oil prices bounced 8% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus amid a price war between Russia and Saudi Arabia and as new virus cases slowed in China.
Tesla plans to expand car parts production capacity in Shanghai: government document
Tesla Inc plans to increase its production capacity for certain car parts at its $2 billion factory in China, according to a government document seen by Reuters, as it pushes to localize its supply chain in the world’s biggest auto market.
U.S. airlines expand waivers for changing tickets through April
The largest U.S. airlines are allowing passengers to rebook tickets through April 30 without paying fees to change flights citing uncertainty about traveling during the coronavirus outbreak.
Oil prices bounce 7% after rout on stimulus hopes
Oil prices bounced back 7% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia.
Asia shares bounce as stimulus hopes stem rout, for now
Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.
Exclusive: Blackstone in talks to take developer SOHO China private in $4 billion deal – sources
Blackstone Group Inc is in exclusive talks to take SOHO China Ltd private in a $4 billion deal, said two sources, in one of its biggest bets yet on the Chinese market and which sent the target’s shares to a 21-month high.
Indonesia readying measures to stabilize financial markets – finance minister
Indonesia Finance Minister Sri Mulyani Indrawati said on Tuesday that authorities are prepared to use all measures they implemented during the 2008 global financial crisis to stabilize financial markets.
In Malaysia’s Silicon Valley, fortunes flip as virus wrecks trade war gains
Tech firms at Malaysia’s one-time Silicon Valley of the East, swimming in orders from customers fleeing trade war-hit China, have seen fortunes turn again in the space of just a year as the coronavirus outbreak cuts them off from Chinese suppliers.
IKEA tests selling through third party for the first time, on Tmall in China
IKEA on Tuesday started selling its products on Alibaba’s Chinese e-commerce platform Tmall, the first time the world’s biggest furniture retailer has sold through a third party in its 77-year history.
Barclays cuts 2020 oil price outlook on price war, virus impact
Barclays on Tuesday slashed its oil price forecasts for 2020, citing OPEC’s failure to convince its allies including Russia to cut production further, which led to Saudi Arabia saying it would raise its output in April despite sluggish global demand.
