• Reuters

    EM ASIA FX-Asian currencies weaken as virus worries shake investor confidence

    * Singapore dollar hits weakest level since May 2017 * S. Korean won hits weakest level since Oct * Thai Baht at weakest in over eight months (Adds text, updates prices) By Shreya Mariam Job Feb 20 (Reuters) - Asian currencies weakened against a stronger dollar on Thursday as fears of the economic

  • Virus fears weigh on Asian markets
    AFP News

    Virus fears weigh on Asian markets

    Coronavirus fears weighed on Asian markets Thursday despite China reporting a big drop in new cases and easing borrowing costs to cushion the epidemic's economic impact. Traders have been betting on central banks, particularly China's, doing what it takes to keep their economies chugging along

  • Spain's Telefonica targets stable revenue, profit in 2020
    Reuters

    Spain's Telefonica targets stable revenue, profit in 2020

    Spain's Telefonica on Thursday predicted sales and core profit would remain stable over the coming year, saying underlying growth in its key markets had helped meet growth targets for 2019. Along with its peers, Europe's fourth-largest telecoms group is battling to boost profit growth in an

  • Upbeat Chinese FM says virus control efforts 'are working'
    AFP News

    Upbeat Chinese FM says virus control efforts 'are working'

    China's efforts to control the deadly outbreak of a new coronavirus "are working", Beijing's top diplomat said Thursday, attributing an easing in new cases to his country's "forceful action" against the illness. Speaking in Laos after talks with peers from the 10 Southeast

  • AFP

    Tokyo shares close higher on cheap yen, US rallies

    Tokyo stocks closed higher for a second straight day on Thursday helped by a cheaper yen and rallies on Wall Street as traders cheered a drop in new coronavirus cases in China. "The external environment is favourable as global stocks rallied and the yen is rapidly depreciating against the dollar

  • Asian stocks mixed after Wall Street rises to record
    Associated Press

    Asian stocks mixed after Wall Street rises to record

    Shares were mixed Thursday in Asia after Wall Street recovered to record highs, with the Shanghai benchmark jumping nearly 2% after China's central bank cut interest rates to help ease credit for companies stricken by the virus outbreak centered on the city of Wuhan. Overnight, U.S. stocks shook

  • Asia weakness drags on Accor revenue growth in 2019
    Reuters

    Asia weakness drags on Accor revenue growth in 2019

    Accor said on Thursday that street protests in Hong Kong and transport strikes in France had weighed on its performance in 2019, as revenues and profits at Europe's largest hotel group grew slightly more slowly than expected. The group, which owns hotel chains like Movenpick and Sofitel, said annual

  • Reuters

    Canadian miner Kirkland raises full-year gold production forecast

    The company forecast gold production for 2020 between 1.4 million ounces and 1.5 million ounces, up from previous range of 950,00 ounces to 1 million ounces. Kirkland said it is considering strategic options for its mines at Holt Complex in Canada and in the Northern Territory, Australia, adding that

  • Asia FX sentiment weakens; bearish bets pile on Singapore dollar: Reuters poll
    Reuters

    Asia FX sentiment weakens; bearish bets pile on Singapore dollar: Reuters poll

    Short positions on the Singapore dollar were at their highest since late August 2019, a poll of 18 respondents showed on Thursday. Both Singapore and Thailand have cut economic growth forecasts for the year. Market participants remained wary on the outlook for the Thai baht, with short positions on

  • Reuters

    AXA lowers 2020 earnings guidance for disaster-related insurance business

    French insurer AXA SA lowered 2020 profit guidance for its companies-focused XL unit and named a new chief executive for XL, as it stepped up measures to reduce exposure to risks stemming from natural disasters that become more frequent. AXA guided that earnings at the AXA XL unit, which is focused

  • Swiss Re reports 73% rise in 2019 net profit, missing expectations
    Reuters

    Swiss Re reports 73% rise in 2019 net profit, missing expectations

    Reinsurer Swiss Re on Thursday posted a lower-than-expected 73% rise in net profit in 2019, after big claims from natural and man-made catastrophes. Net profit was $727 million during the period, up from $421 million a year earlier. Analysts had expected a net profit of $1.32 billion, according to

  • Gold eases, but holds near seven-year peak as virus impact weighs
    Reuters

    Gold eases, but holds near seven-year peak as virus impact weighs

    Spot gold was down 0.2% at $1,608.96 per ounce, as of 0550 GMT. U.S. gold futures were flat at $1,611.90. China's central Hubei province had 349 new confirmed cases of coronavirus on Wednesday, the province's health commission said, down from 1,693 a day earlier and the lowest since Jan. 25

  • Air France-KLM expects coronavirus impact of 200 million euros, could climb higher
    Reuters

    Air France-KLM expects coronavirus impact of 200 million euros, could climb higher

    Air France-KLM expects the coronavirus outbreak to wipe 150 million to 200 million euros (£125-167 million) off earnings by April, assuming China flights remain suspended until then, the Franco-Dutch airline group said on Thursday. As the first European network carrier to publish its full-year results

  • Schneider Electric estimates coronavirus costs at 300 million euros
    Reuters

    Schneider Electric estimates coronavirus costs at 300 million euros

    "The Group is assessing the impact of the coronavirus to the business," the company said in a statement, adding that it will be felt mostly in China due to factory closures in January and February. The virus, which originated in the city of Wuhan in western China, has so far killed more than

  • Foxconn warns of negative revenue impact from virus outbreak
    Reuters

    Foxconn warns of negative revenue impact from virus outbreak

    Taiwan's Foxconn on Thursday said a coronavirus outbreak will lead to lower full-year revenue and the company will "cautiously" resume output at its main factories in China that were shut because of the outbreak. Foxconn said in a statement to the Taipei stock exchange that its factories

  • Taiwan's Foxconn warns of negative revenue impact from virus outbreak
    Reuters

    Taiwan's Foxconn warns of negative revenue impact from virus outbreak

    Taiwan's Foxconn on Thursday said a coronavirus outbreak will lead to lower full-year revenue and the company will "cautiously" resume output at its main factories in China that were shut because of the outbreak. Foxconn said in a statement to the Taipei stock exchange that its factories

  • Fresenius forecasts 2020 profit growth driven by drug, dialysis units
    Reuters

    Fresenius forecasts 2020 profit growth driven by drug, dialysis units

    Following a tumultuous 2018, when Fresenius issued several profit warnings, last year was a time of investment and stabilization for Fresenius with the group's management pointing to an improvement in growth and profitability from 2020 onwards. Fresenius' fourth-quarter adjusted operating income

  • Schneider Electric estimates coronavirus costs at 300 million euros
    Reuters

    Schneider Electric estimates coronavirus costs at 300 million euros

    "The Group is assessing the impact of the coronavirus to the business," the company said in a statement, adding that it will be felt mostly in China due to factory closures in January and February. The virus, which originated in the city of Wuhan in western China, has so far killed more than

  • Walmart's struggling Japan unit finally delivers with online grocery growth
    Reuters

    Walmart's struggling Japan unit finally delivers with online grocery growth

    Walmart Inc might finally have found the sweet spot in Japan's food market with a fast-growing venture ranked third in a nascent online grocery sector, as the brick-and-mortar stores it bought into two decades ago continue their search for profit. The barely year-old tie-up between the U.S. supermarket

  • Walmart's struggling Japan unit finally delivers with online grocery growth
    Reuters

    Walmart's struggling Japan unit finally delivers with online grocery growth

    Walmart Inc might finally have found the sweet spot in Japan's food market with a fast-growing venture ranked third in a nascent online grocery sector, as the brick-and-mortar stores it bought into two decades ago continue their search for profit. The barely year-old tie-up between the U.S. supermarket

  • Walmart's struggling Japan unit finally delivers with online grocery growth
    Reuters

    Walmart's struggling Japan unit finally delivers with online grocery growth

    Walmart Inc might finally have found the sweet spot in Japan's food market with a fast-growing venture ranked third in a nascent online grocery sector, as the brick-and-mortar stores it bought into two decades ago continue their search for profit. The barely year-old tie-up between the U.S. supermarket

  • Reuters SG

    SE Asia Stocks-Singapore, Thai lead declines as investors weigh virus impact

    * China cuts benchmark interest rate to support virus-hit economy * Thai index at lowest since Nov 2016 * Indonesia and Malaysia stocks trade flat By Arundhati Dutta Feb 20 (Reuters) - Stocks in Thailand and Singapore led declines in Southeast Asia on Thursday amid concerns that the coronavirus epidemic

  • Reuters

    SE Asia Stocks-Singapore, Thai lead declines as investors weigh virus impact

    * China cuts benchmark interest rate to support virus-hit economy * Thai index at lowest since Nov 2016 * Indonesia and Malaysia stocks trade flat By Arundhati Dutta Feb 20 (Reuters) - Stocks in Thailand and Singapore led declines in Southeast Asia on Thursday amid concerns that the coronavirus epidemic

  • No, Concentration Among Miners Isn’t Going to Break Bitcoin
    Coindesk

    No, Concentration Among Miners Isn’t Going to Break Bitcoin

    Bitcoin's resilience doesn't depend on widely distributed mining power. It just requires self-interested miners, says CoinDesk columnist Hasu.

  • Easing property curbs isn’t on Singapore’s radar, Deputy PM says
    Bloomberg

    Easing property curbs isn’t on Singapore’s radar, Deputy PM says

    Singapore has no immediate plans to ease property curbs, Deputy Prime Minister Heng Swee Keat said.