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Samsung Electronics confirms coronavirus case at phone factory complex in South Korea

Reuters
Residents sanitize at a church in Seoul, South Korea, February 22, 2020. Yonhap via REUTERS SEOUL (Reuters) – Samsung Electronics (005930.KS) said on Saturday that one coronavirus case had been confirmed at its mobile device factory complex in the southeastern city of Gumi, causing a shutdown of its entire facility......
Reuters - Business

Manufacturers entangled in logistical nightmare as virus-hit China limps back to work

Reuters
SHANGHAI/BANGKOK (Reuters) – Blocked highways. Stranded workers. Dwindling supplies. Shipping and air freight companies also hamstrung. FILE PHOTO: Workers wearing face masks load cargo to a truck next to containers at a railway cargo terminal, as the country is hit by an outbreak of the novel coronavirus, in Yinchuan, Ningxia......
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Euro zone ministers discuss fiscal boost options as virus worries weigh

Reuters
BRUSSELS (Reuters) – Euro zone finance ministers discussed ways to pursue a more growth-friendly fiscal policy mix on Monday, in a potential nudge to Germany and the Netherlands to spend more as fears of a downturn grow in the wake of the coronavirus epidemic. European Central Bank President Christine Lagarde......
CNBC Business

China disinfects cash in a bid to stop virus spreading

CNBC
CNBC – For more and to sign up click here A Chinese clerk counts renminbi yuan banknotes at a bank in China on December 2015. Jie Zhao | Corbis News | Getty Images Chinese banks have been ordered to disinfect cash before issuing it to the public in an effort......
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Cathay Pacific flags ‘significant’ drop in first-half profit, capacity cuts due to coronavirus

Reuters
FILE PHOTO: A passenger walks to the First Class counter of Cathay Pacific Airways at Hong Kong Airport in Hong Kong, China April 4, 2018. REUTERS/Bobby Yip/File Photo (Reuters) – Cathay Pacific Airways (0293.HK) is expecting a significant drop in its first-half results and has also cut capacity due to......
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Wall Street Week Ahead: Investors bet emerging markets will weather coronavirus impact

Reuters
NEW YORK (Reuters) – Investors are edging back into emerging markets, even though worries about the coronavirus’ impact on global economic growth have clouded prospects for the boom-and-bust asset class. Nearly $730 million flowed back into emerging markets exchange-traded funds (ETFs) in the past week, according to Lipper, after two......
Reuters - Business

Investors bet emerging markets will weather coronavirus impact

Reuters
NEW YORK (Reuters) – Investors are edging back into emerging markets, even though worries about the coronavirus’s impact on global economic growth have clouded prospects for the boom-and-bust asset class. FILE PHOTO – Traders work at the New York Stock Exchange (NYSE) in New York, U.S., February 4, 2020. REUTERS/Bryan......
Reuters - Business

Organisers of cancelled mobile conference play down compensation chances

Reuters
BARCELONA (Reuters) – Companies that have spent money on a major telecoms conference in Barcelona that has been cancelled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organisers’ standard insurance, they said on Thursday. The GSMA telecoms body cancelled the Feb. 24-27 event on Wednesday......
Reuters - Business

China’s Shenzhen says Foxconn to resume operations after inspections

Reuters
FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company’s building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu/File Photo BEIJING (Reuters) – The local government of the city of Shenzhen in southeastern China said on Sunday it had......
Reuters - Business

Hyundai Motor, Kia Motors to keep Chinese factories idled until February 16

Reuters
FILE PHOTO: A man walks past the logo of Hyundai Motor during the 2019 Seoul Motor Show in Goyang, South Korea, March 28, 2019. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – Hyundai Motor (005380.KS) and affiliate Kia Motors (000270.KS) plan to restart production at their Chinese factories on Feb. 17, a......
Reuters - Business

South Korea asks China for help in resuming production at auto parts plants

Reuters
FILE PHOTO: A man walks past the logo of Hyundai Motor during the 2019 Seoul Motor Show in Goyang, South Korea, March 28, 2019. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – The South Korean government said on Friday it has asked Chinese regional governments for help in resuming production at South......
Reuters - Business

Yum China warns of first-quarter losses, 2020 sales hit after virus outbreak

Reuters
(Reuters) – KFC licensee Yum China (YUMC.N) said it could report an operating loss in the first quarter and take a significant hit to sales and productivity due to a coronavirus outbreak in China, after it was forced to shut nearly a third of its stores. FILE PHOTO – A......
Reuters - Business

Drugmakers see long road ahead in coronavirus vaccine race

Reuters
(Reuters) – Drugmakers racing to find a vaccine or effective treatment for the deadly new coronavirus in China cautioned that they have a long way to go. That runs counter to reports of a supposed “breakthrough” that on Wednesday boosted financial markets and spurred optimism not necessarily backed by reality.......
Reuters - Business

Stocks rally on virus vaccine hopes, dollar gains

Reuters
NEW YORK (Reuters) – The dollar gained and a gauge of global equity markets surged for a third day as expectations of more central bank stimulus and media reports that suggest scientists are closing in on a vaccine for the deadly coronavirus boosted sentiment. U.S Treasury yields rose as traders......
Reuters - Business

Stimulus hopes, virus containment steps lift world stocks

Reuters
LONDON (Reuters) – Expectations of more central bank stimulus lifted world stocks to their highest in more than a week on Wednesday, helping investors look past a mounting coronavirus death toll and policymakers’ concerns for the disease’s economic impact. FILE PHOTO: Investors sit in front of a board showing stock......
Reuters - Business

Airline industry healthy enough to absorb significant downturn in China’s economy: IAG CEO

Reuters
FILE PHOTO: Willie Walsh, CEO of International Airlines Group speaks during the closing press briefing at the 2016 International Air Transport Association (IATA) Annual General Meeting (AGM) and World Air Transport Summit in Dublin, Ireland June 3, 2016. REUTERS/Clodagh Kilcoyne/File Photo DUBAI (Reuters) – The airline industry is “without question”......
Reuters - Business

United Airlines suspending U.S.-bound mainland China flights a day earlier

Reuters
WASHINGTON (Reuters) – United Airlines said on Monday it will move up its temporary suspension of U.S.-bound flights from mainland China by one day to Tuesday. FILE PHOTO: A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S.......
CNBC Business

The flu has already killed 10,000 across US as world frets over coronavirus

CNBC
CNBC – For more and to sign up click here Flu vaccine Brent Lewis | The Denver Post | Getty Images While the new coronavirus ravages much of China and world leaders rush to close their borders to protect citizens from the outbreak, the flu has quietly killed 10,000 in......
Reuters - Business

Take Five: What’s the virus damage?

Reuters
(Reuters) – 1/SCHLOCK AND AWE IN CHINA FILE PHOTO: People walk past an electronic display showing world markets indices outside a brokerage in Tokyo, Japan, January 8, 2020. REUTERS/Issei Kato Financial markets have gone swiftly from nonchalance to awe in reacting to the fast-spreading 2019-nCoV or new coronavirus here Global......
Reuters - Business

U.S. flight rules on China visits will pose new airline challenges

Reuters
WASHINGTON (Reuters) – The U.S. Department of Homeland Security (DHS) issued rules on Sunday to implement new restrictions on Americans who have recently visited China to address the threat of the coronavirus. FILE PHOTO: Passengers arrive at LAX from Shanghai, China, after a positive case of the coronavirus was announced......

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