How Lipper Award-winning fund managers are playing coronavirus scare
Uncertainty over the economic impact of the coronavirus outbreak has prompted at least some winners of the U.S. Lipper Fund Awards to look for companies that can withstand a prolonged pullback.
Exclusive: Tencent-backed WeDoctor invites banks to lead $1 billion Hong Kong IPO, sources say
WeDoctor will push ahead with a Hong Kong listing and invite pitches from investments banks next week to lead an IPO valuing the Chinese healthcare platform at up to $10 billion, two sources with direct knowledge of the matter said.
Peugeot CEO Tavares says China strategy needs rethink
Peugeot boss Carlos Tavares said on Friday PSA and Fiat Chrysler (FCA) will need to review their strategy in China in order to boost sales after the closing of the merger between the two groups.
China’s first-quarter economic hit from coronavirus looking more severe: Reuters poll
The coronavirus likely halved China’s economic growth in the current quarter compared with the previous three months, more severe than thought just three weeks ago and triggering expectations for earlier interest rate cuts, a Reuters poll found.
India’s Yes Bank plunges 60%, panicked depositors rush to withdraw funds
Shares in India’s Yes Bank Ltd plunged 60% on Friday as panicky depositors rushed to withdraw funds after the central bank took control in a dramatic late-night move and limited withdrawals from the troubled lender.
EssilorLuxottica forecasts profit growth despite coronavirus impact
EssilorLuxottica expects continued profit growth this year after stronger 2019 results, saying on Friday the outbreak of coronavirus had not hit output at its Italian factories and its production in China was getting back to normal.
Oil drops on demand doubts, fears that producer output cuts not yet agreed
Oil slid 1% on Friday as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices.
India’s Yes Bank plunges 35% as central bank takes control
Shares in India’s Yes Bank dropped nearly 35% on Friday to their lowest in more than a decade, after the central bank took control and set a limit on withdrawals because of a serious deterioration in its financial position.
Timeline: India central bank takes control of bad loan-burdened Yes Bank
India’s central bank took control of the country’s fifth-largest private sector lender Yes Bank on Thursday and imposed limits on withdrawals, spreading confusion and fear among account holders.
On the brink: China’s bakers, bars and beauty spas struggle to survive coronavirus
The coronavirus outbreak in China is pushing many small businesses to the brink, as efforts to stem its spread left usually bustling streets deserted and malls shut or empty.
