Nokia appoints Fortum CEO Lundmark to replace Suri from September
Nokia Chief Executive Rajeev Suri will step down in September and be replaced by Pekka Lundmark, who used to work for the Finnish company and is the current CEO of energy group Fortum, Nokia said on Monday.
Coronavirus expected to hurt U.S. earnings harder and longer
The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict.
Hyundai reports lowest monthly sales in decade as virus dents demand
Hyundai Motor reported its lowest monthly global sales in a decade in February as the coronavirus outbreak hurt demand, in what is the first major indicator of damage to the broader auto sector from the epidemic.
Nike temporarily closes European headquarters due to coronavirus case
Nike’s European headquarters in the Netherlands will be closed on Monday and Tuesday after an employee was infected with the coronavirus.
Asian shares rebound as markets bet on coordinated policy stimulus
Asian shares regained a measure of calm on Monday as markets bounced after a searing sell-off last week and as investors pinned hopes on a likely coordinated global monetary response to help soften the economic blow of the coronavirus outbreak.
Swiss National Bank to double payout after posting $50 billion profit
The Swiss National Bank posted an annual profit of 48.9 billion Swiss francs ($50.71 billion), the central bank said on Monday, and said it would double its payout to Switzerland’s regional and central governments.
Samsung starts building $220 million R&D center in Vietnam
Samsung Electronics has started building a $220 million research and development center in Vietnam, the South Korean tech giant’s local unit said on Monday.
Coronavirus deals shattering blow to Asian factories
Asia’s factories took a beating in February from the coronavirus outbreak with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a co-ordinated policy response by central banks to prevent a global recessio…
South Korea’s Jeju Air buys Eastar Jet at lower price amid virus outbreak
South Korean budget carrier Jeju Air Co Ltd said on Monday it would acquire a 51% stake in competitor Eastar Jet for 54.5 billion won ($45.49 million), a lower price than previously announced.
Oil comes off lows as hopes of OPEC cut, stimulus counter virus gloom
Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
