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February 28, 2020
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ECB’s Weidmann: No need for immediate monetary policy action due to coronavirus

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FILE PHOTO: German Bundesbank President Jens Weidmann attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – There is no need to take immediate monetary policy action due to the coronavirus outbreak, the European Central Bank’s......
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Hyundai Motor halts work at factory after worker tests positive for coronavirus

Reuters
SEOUL (Reuters) – Hyundai Motor (005380.KS) shut down a factory in South Korea on Friday after a worker tested positive for the new coronavirus, disrupting production of popular models such as Palisade sport utility vehicle. Shares of the automaker ended down more than 5% after the news, while the wider......
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Investment advisors worry U.S. response to coronavirus is too little too late

Reuters
NEW YORK (Reuters) – Investment-advisors are increasingly worried that U.S. authorities are not be doing enough to prevent a widespread outbreak of coronavirus in the country, potentially adding further downside to already-battered markets.  FILE PHOTO: A woman wearing a mask to prevent the coronavirus is reflected in the mirrors, in......
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Mylan quarterly profit beats estimates

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FILE PHOTO: Logo of Mylan Laboratories, a company primarily engaged in the commercialization of generic drugs is pictured in Merignac near Bordeaux, France, September 19, 2019. REUTERS/Regis Duvignau (Reuters) – Drugmaker Mylan NV (MYL.O) reported a fourth-quarter profit on Thursday that beat estimates, helped by sales of new products such......
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Cargill bans international travel for staff amid coronavirus outbreak

Reuters
FILE PHOTO: A Cargill logo is pictured on a truck transporting Provimi Kliba and Protector animal nutrition products near the factory in Lucens, Switzerland, September 22, 2016. REUTERS/Denis Balibouse (Reuters) – International grains trader and processor Cargill Inc has banned all non-essential travel for its employees for the next two......
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China’s top container ports unclog backlog as virus curbs ease

Reuters
BEIJING (Reuters) – China’s top container ports are loosening the backlog of cargoes on their docks as workers return to their posts after coronavirus travel curbs that kept them away and jammed up global supply chains have been eased. A foreman wearing a face mask works as a cargo ship......
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Bayer targets 9.6% gain in 2020 adjusted EBITDA

Reuters
FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo LEVERKUSEN, Germany (Reuters) – Germany’s Bayer (BAYGn.DE) said on Thursday it was targeting growth in adjusted core profit of up to 9.6%......
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Bayer chairman quits after making progress to settle litigation

Reuters
FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo FRANKFURT (Reuters) – Bayer (BAYGn.DE), which is fighting claims its weedkiller Roundup causes cancer, said its Chairman Werner Wenning was stepping down......
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China’s main manufacturing hubs reboot after virus shutdown

Reuters
BEIJING/SHANGHAI (Reuters) – As many parts of China ease coronavirus travel curbs, main manufacturing hubs in the east and south are seeing hundreds of thousands of migrant workers returning to work and more traffic on the roads during rush hours. FILE PHOTO: Traders buy and sell chips and components on......
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France’s Sanofi to carve out active drug ingredients business

Reuters
PARIS (Reuters) – Sanofi (SASY.PA) plans to create a standalone company dedicated to making active pharmaceutical ingredients (API), components that are biologically active in a drug, and will decide whether to list it on Euronext Paris by 2022. FILE PHOTO: A Sanofi sign outside the French drugmaker’s Paris headquarters, October......
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SoftBank leads $265 million investments in two U.S.-based start-ups

Reuters
(Reuters) – SoftBank on Monday led a new funding round of $165 million in California-based Karius and invested $100 million in New York-headquartered AI company Behavox, as the technology giant builds a portfolio under its second Vision Fund. FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank......
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German industrial sectors see supply shortage over virus: BDI

Reuters
BERLIN (Reuters) – Several sectors of Germany’s manufacturing sector are expecting a shortness of supplies from the Far East region in the coming weeks due to the outbreak of the coronavirus in China, business association BDI said on Monday. The sectors affected include engineering, autos, pharmaceuticals and paper, BDI said......
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Exclusive: Germany’s Stada buys 15 GSK consumer health brands

Reuters
FRANKFURT (Reuters) – Private equity-backed generic drugmaker Stada STAGn.D said it has agreed to buy 15 consumer healthcare products from British drugmaker GlaxoSmithKline (GSK.L) to further strengthen its prescription-free drugs business in Europe. FILE PHOTO: The logo of Stada Arzneimittel AG is pictured at their headquarters in Bad Vilbel near......
Reuters - Business

G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup

Reuters
RIYADH (Reuters) – Finance chiefs of the world’s top 20 economies vowed to monitor the impact of the coronavirus outbreak on global growth and act if needed, as they said loose monetary policy and easing trade tensions would prompt a pick-up in 2020 and 2021. The Group of 20 (G20)......
Reuters - Business

G20 finance heads see modest growth pickup, to monitor coronavirus

Reuters
RIYADH (Reuters) – Finance leaders of the world’s top 20 economies expect economic growth to pick up modestly this year and next thanks to loose monetary policy and an easing of trade tensions, and vowed to monitor the effects of the coronavirus outbreak. U.S. Treasury Secretary Steven Mnuchin arrives for......
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G20 sees need to coordinate coronavirus response as IMF trims growth forecasts

Reuters
RIYADH (Reuters) – The world’s top economies called on Saturday for a coordinated response to the coronavirus outbreak, which the IMF predicted would lower China’s growth this year to 5.6% and shave 0.1 percentage points from global growth. FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a news conference......
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Markets underprice coronavirus risk: UBS chairman on Bloomberg TV

Reuters
FILE PHOTO: Axel Weber, UBS Chairman of the Board of Directors, attends a session during the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse VIENNA (Reuters) – Markets are underpricing the risk that the coronavirus outbreak poses to the global economy, and central......
Reuters - Business

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

China firms in $10 billion share sale rush as funding rules eased amid virus worries

Reuters
SHANGHAI (Reuters) – Listed Chinese companies are queuing up to issue shares and have already announced plans to raise more than $10 billion in the past week after fundraising rules were relaxed to help ease cash strains caused by the coronavirus. FILE PHOTO: A woman wearing a face mask crosses......
Reuters - Business

Shares of HNA affiliates rally after report of China bailout plan

Reuters
BEIJING/SHANGHAI (Reuters) – Shares in affiliates of HNA Group surged on Thursday following a news report that China plans to take over the debt-laden conglomerate as the coronavirus outbreak has further hit its ability to meet financial obligations. FILE PHOTO: The HNA Group logo is seen on the gate of......

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