Japan on brink of recession as economy contracts, virus heightens risk
Japan’s economy shrank at the fastest pace in almost six years in the December quarter as a sales tax hike hit consumer and business spending, raising the risk of a recession as China’s coronavirus outbreak chills global activity.
U.S. firms in China report staff shortages, say coronavirus hitting global operations: AmCham
Nearly half of the U.S. companies in China say their global operations are already seeing an impact from business shutdowns due to the coronavirus epidemic, according to a poll by Shanghai’s American Chamber of Commerce (AmCham).
GM shuts Australia, NZ operations; sells Thai plant to Great Wall
General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the U.S. auto maker $1.1 billion.
Alstom confirms talks underway to buy Bombardier Transportation
French transport infrastructure company Alstom said on Monday it was in talks over a possible acquisition of the train business of Canadian company Bombardier , which could be worth $7 billion on an enterprise value basis.
NMC Health founder Shetty resigns as turmoil deepens
NMC Health said on Monday its founder BR Shetty had resigned as the Emirati healthcare group’s joint non-executive chairman, leaving UK businessman H.J. Mark Tompkins as sole chairman.
Asian shares near three-week highs on Chinese support measures; Japan skids
Asian shares reversed losses on Monday and moved back toward a three-week top as China’s persistent efforts to cushion the blow from a coronavirus outbreak calmed nervous investors, although Japanese stocks faltered on growing recession risks.
BOJ’s Kuroda flags more easing if virus impact worsens: Sankei
Bank of Japan Governor Haruhiko Kuroda said the central bank would consider additional rapid easing if the coronavirus outbreak significantly threatened Japan’s economy and price trends, the Sankei newspaper reported on Monday.
Dubai’s DP World to delist, return to full state ownership
Dubai’s DP World, one of the world’s largest port operator’s, said on Monday it would delist and return to full state ownership in a deal valuing the company at $13.9 billion.
Oil prices steady as coronavirus-related demand concerns weigh
Oil prices were little changed on Monday as concerns over the economic fallout from the coronavirus outbreak in China were offset by hopes that potential output cuts from major producers could tighten crude supply.
Japan’s recession risks grow as economy skids in fourth-quarter, virus clouds outlook
Japan’s economy shrank at the fastest pace in almost six years in the December quarter as last year’s sales tax hike hit consumer and business spending, highlighting a fragile outlook made worse by growing coronavirus risks.
