Exclusive: Japan to boost special financing for coronavirus-hit firms to $16 billion, document shows
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.
Saudi Aramco drops 10% after kingdom triggers oil price fall
Saudi Aramco shares fell 10% on Monday after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil production next month, prompting a sharp drop in prices.
Robots step in as cheap labor dries up in Eastern Europe
Istvan Simon’s factory in western Hungary churns out more than a million plastic parts a day but on a busy morning in one of its large production halls there is only the sound of machines clicking and whirring. Workers have all but disappeared.
Struggling Nissan’s China vehicle sales drop 80% in February
Nissan Motor Co’s vehicle sales in China, its biggest market, dropped 80% in February as coronavirus concerns sapped demand, in another blow to the carmaker which is struggling to recover from a profit free fall.
Coronavirus shock, oil crash sinks world stocks
Global stocks plunged on Monday and prices for crude oil tumbled as much as 33% after Saudi Arabia launched a price war with Russia, sending investors already panicked by the coronavirus fleeing for the safety of bonds and the yen.
‘No question’ of India’s Yes Bank merging with SBI: administrator
India’s Yes Bank will not be merged with State Bank of India , which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.
Tesco to return $6.6 billion to shareholders after sale of Thai, Malaysia assets
Britain’s Tesco plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group for an enterprise value of $10.6 billion.
Saudi Aramco shares open 10% lower as the oil price crumbles
Shares in Saudi Aramco plunged 10% in opening trade on Monday, following a sharp drop in oil prices after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil production next month.
Oil suffers rout after Saudi Arabia fires first shot of price war
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand.
Business picks up pace in China, but global virus spread may slow recovery
China’s business and travel activities are steadily recovering after being disrupted by the coronavirus outbreak, but rapidly rising infections globally will pose a challenge to the country’s broader economic resumption.
