Category: Business

China’s top container ports unclog backlog as virus curbs ease

China’s top container ports are loosening the backlog of cargoes on their docks as workers return to their jobs after coronavirus travel curbs that kept them away and jammed up global supply chains have been eased. The flu-like epidemic, which originated in the city of Wuhan, an inland logistics hub in Hubei province, has killed […]

Coronavirus expected to slam 2020 global car sales

Global auto sales could dip by as much as 2.5 percent this year, a significantly sharper decline than the 0.9 percent dip previously forecast, with coronavirus taking the blame, according to a newly released report by Moody’s. Almost from the moment it became clear a dangerous new virus was spreading in the Chinese city of […]

IKEA reduces climate footprint for the first time

Carbon emissions throughout the full value chain of IKEA furniture fell for the first time last year, brand owner Inter IKEA said on Thursday citing increased use of renewable energy. From the production of raw materials and products through to customers’ use and disposal, emissions shrank 4.3% in the fiscal year to the end of […]

Thai tycoons in fray as Tesco sets bid deadline for $9 billion Asia business: sources

British retailer Tesco (TSCO.L) has asked bidders to submit binding offers for its Asian business by Friday, in a deal that will see Thai billionaires fight for an asset valued at up to $9 billion, sources with direct knowledge of the matter said. The bidding is shaping up as a battle between Dhanin Chearavanont’s Charoen […]

Aston Martin shares slide as losses deepen and finance chief leaves

Aston Martin (AML.L) shares slumped to a record low on Thursday after the British luxury carmaker said its losses ballooned last year and its chief financial officer would leave by the end of April. The firm, famed for being fictional agent James Bond’s car of choice, posted a pretax loss of 104 million pounds ($135 […]

Dow suffers record decline in points as Wall Street leads global stocks lower

The Dow industrials posted the largest-ever points drop on Thursday as Wall Street led stocks across the globe lower, with traders fretting over the economic impact of the spreading coronavirus. Oil prices tumbled to their lowest in over a year and the benchmark U.S. Treasury yield set a record low. No country should make the […]

StanChart posts strong results but coronavirus, economic headwinds to hamper profit growth

Standard Chartered (STAN.L) booked a robust 46% jump in annual profit but warned a key earnings target would take longer to meet as the coronavirus epidemic adds to headwinds in its main markets of China and Hong Kong. The epidemic could lead to a rise in bad loans, it said but did not provide specific […]