TOKYO (Reuters) – Sony Corp raised its annual profit outlook on strong sales of smartphone image sensors after reporting a smaller-than-expected decline in quarterly profit, but it warned of an impact from the Wuhan coronavirus on its global supply chain. Demand for image sensors has been strong enough that even with its plants operating at […]
Utilities stocks trump other havens as virus fears spread
NEW YORK (Reuters) – U.S. utilities stocks have outperformed other traditional havens in recent days, as worries over the spreading coronavirus epidemic sparked a rush to safety. The S&P 500 Utilities index is up about 3.2% since Jan. 21, when the first case of coronavirus was reported in the United States. The index has risen […]
China will help makers of vital goods resume operations as soon as possible – state TV
SHANGHAI (Reuters) – China said on Sunday it will help firms that produce vital goods resume work as soon as possible, state broadcaster CCTV reported on Sunday, citing a meeting chaired by Chinese Premier Li Keqiang. Non-essential sectors, however, will be allowed flexibility in how they resume operations after the Lunar New Year holiday as […]
Malaysia regulator to probe if AirAsia broke rules in Airbus deals
KUALA LUMPUR (Reuters) – Malaysia’s securities regulator said on Sunday it will examine whether AirAsia Group (AIRA.KL) and unit AirAsia X (AIRX.KL) broke securities laws, after UK prosecutors accused executives of receiving bribes from Airbus (AIR.PA) for buying planes. The allegations came to light on Friday when Airbus agreed to a record $4 billion settlement […]
Factbox: Airlines suspend China flights because of coronavirus outbreak
(Reuters) – Airlines are suspending flights to China in the wake of the new coronavirus outbreak, which as of Friday had killed more than 200 people and infected nearly 10,000 people. Here is the latest on their plans (in alphabetical order): AIR CANADA (AC.TO) Air Canada said on Jan. 28 it was cancelling select flights […]
Asia’s U.S. oil imports to rebound in May after freight rates drop -sources
SINGAPORE (Reuters) – Asia’s crude oil imports from the United States are set to rebound in May after freight rates for ships to carry U.S. crude to north Asia fell by 27% from a week earlier, trade and shipping sources said on Friday. A rise in Asia’s oil imports from the United States could displace […]
Mobile World Congress to go ahead despite China virus spread – GSMA
BERLIN (Reuters) – The Mobile World Congress, an annual telecoms industry event that draws more than 100,000 visitors to Barcelona, will go ahead as planned on Feb. 24-27 despite the international spread of a virus that has killed 132 people in China. “The upcoming Mobile World Congress Barcelona event will proceed as planned,” the GSMA […]
UK markets watchdog fined for compliance issues in pension plan
(Reuters) – Britain’s markets watchdog was fined by The Pensions Regulator for failing to provide complete details to the members of its pension plan, the regulators said on Monday. The Financial Conduct Authority (FCA) has been fined 2,000 pounds for not including all necessary information in a 2018 governance statement, the country’s pensions watchdog said […]
Suez Canal revenues increase slightly in 2019 – statement
CAIRO (Reuters) – Suez Canal revenues increased slightly to $5.8 billion in 2019 compared with $5.7 billion in 2018, its authority said in a statement on Saturday. The canal kept its transit toll unchanged in 2020 for all types of vessels except dry bulk vessels and liquefied petroleum gas (LPG) carriers which will increase by […]
Manufacturing weakness dents Germany’s labour market
BERLIN (Reuters) – German unemployment rose more than expected in December, according to figures released on Friday, adding to signs that weakness in the manufacturing sector is hurting the labor market in Europe’s biggest economy. Data from the Federal Labor Office showed the number of people out of work rose by 8,000 to 2.279 million […]