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 (Bloomberg) -- For a fresh perspective on the stories that matter in Australian business and politics, sign up for our new weekly newsletter.European stocks dropped, U.S. equity futures drifted and Asian shares slumped on Thursday amid lingering concerns that a virus spreading from China to other countries could become a drag on global growth. Crude oil fell and Treasuries climbed.Travel and mining shares led the Stoxx Europe 600 Index lower. Asian stocks slid from Seoul to Sydney on worries the deadly pathogen will affect corporate sales and economies. China's Shanghai Composite Index plunged 2.8%, the biggest drop on the last trading day before China's Lunar New Year holiday in the benchmark's three-decade history. Contracts on the Dow Jones Industrial Average nudged lower while those on the S&P 500 and Nasdaq 100 indexes fluctuated.European bonds gained across the board, while the euro edged down before the region's central bank announces a policy decision later on Thursday. ECB President Christine Lagarde will speak to the press afterwards.With China moving to shut down travel in and out of Wuhan, the epicenter of the novel coronavirus that's killed 17 people so far, the threat to airlines and retailers is becoming increasingly clear. The risk, which is stirring memories of the SARS outbreak 17 years ago, is emerging just as evidence mounts that the global economy has turned a corner. Strong Australian job numbers Thursday were the latest sign; the country's currency outperformed global peers.
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 World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China.
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Britain wants a trade deal with the United States but will impose a digital service tax on the revenue of companies such as Google, Facebook and Amazon, business minister Andrea Leadsom said on Thursday.
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Oil prices fell to their lowest in seven weeks on Thursday, sliding more than 1% on concern that the spread of a respiratory virus from China may lower fuel demand if it stunts economic growth in an echo of the SARS epidemic nearly 20 years ago.
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BP's finance chief Brian Gilvary is to step down in June after eight years in the role and will be replaced by a close ally of Bernard Looney who takes over as chief executive next month.
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Asian shares tumbled on Thursday, led by the biggest slide in Chinese stocks in more than eight months, as investors grew more anxious about the spread of a new flu-like virus in China just as millions prepared to travel for the Lunar New Year.
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Boeing Chief Executive Dave Calhoun told reporters on Wednesday the U.S. planemaker expects to resume 737 MAX production months before its forecasted mid-year return to service and said it did not plan to suspend or cut its dividend.
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U.S. President Donald Trump vowed to rip up international trade deals and rebalance America's global trade relationships.
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 (Bloomberg) -- Texas Instruments Inc. gave a quarterly sales and profit forecast that was in line with estimates, indicating that demand from electronics makers is poised to improve amid progress resolving the China-U.S. trade dispute.First-quarter earnings will be 96 cents a share to $1.14 a share, on revenue of $3.12 billion to $3.38 billion, the Dallas-based company said Wednesday in a statement. On average, analysts predicted profit of $1.04 a share and sales of $3.2 billion, according to data compiled by Bloomberg.Texas Instruments has the biggest customer list and widest product range in the semiconductor industry, making its earnings an indicator of demand across the economy. The company has told investors the electronics business is in the middle of a typical cyclical decline after companies ordered too many parts last year. Such gluts typically last five quarters. In Wednesday's report, which also included fourth-quarter results, Texas Instruments posted its fifth consecutive period of year-over-year revenue declines."Most markets showed signs of stabilizing," the company said in the statement.The company's forecast for the first quarter was held back by the outlook for the communications equipment industry, which is "going down hard," Chief Financial Officer Rafael Lizardi said during a conference call. Texas Instruments' key industrial and automotive markets are close to returning to growth, he said.Shares fell about 1% in extended trading after closing at $133.
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Tesla Inc shares surged on Wednesday, and the company became the first publicly listed U.S. automaker to cross $100 billion in market valuation, more than Ford Motor Co and General Motors Co combined.
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U.S. and global business leaders in Davos are privately expressing concerns about the coronavirus from China.
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President Trump touted what he described as a "blue-collar boom" transforming the U.S. economy and hailed his trade agreement with China in a speech to global business and government leaders, hours before his impeachment trial was set to begin.
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