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Yahoo BusinessFeb 24, 2020
Oil Slides While Gold Heads to $1,700 as Virus Rocks Commodities
(Bloomberg) -- Renewed fears that the coronavirus will harm global growth rocked commodity markets again on Monday, with oil and metals prices tumbling while gold soared toward $1,700 an ounce amid a global flight to haven assets.As the deadly virus spreads more widely outside China, raising the threat of a global pandemic, finance chiefs and central bankers from the world's largest economies said they see downside risks to the world economy persisting.That's spurring fresh alarm in commodity markets that had started to recover from lows hit earlier in the month when China's virtual shutdown threw supply chains into chaos. With the International Monetary Fund cutting its global growth forecast and warning that it's also looking at more "dire" scenarios, investors are concerned that risks to raw material demand are worsening."With the volatility we're seeing in the coronavirus event, that's creating angst in the market on the back of growth and demand expectations and we've seen oil prices weaken," said David Lennox, a resource analyst at Fat Prophets in Sydney. "The converse of that is the same event is carrying investors toward a safe haven play and that's gold."Oil led the losses in Asian trade on Monday morning, tumbling more than 3% in London and New York. Until Friday, Brent crude had been in the longest run of gains in more than a year thanks to Chinese fiscal stimulus and new threats to supplies from Africa and Latin America.Industrial commodities are also getting hit hard, with copper sliding m - China, Economy & TradeFeb 24, 2020
Coronavirus: Chinese carmakers struggle with disruption
Annual motor show is delayed, production lines are only just restarting and dealerships are empty of customers

Yahoo BusinessFeb 23, 2020
China's Coronavirus Cases Rise to 77,150
Feb.23 -- Chinese policy makers are pledging various measures to support the economy as the total number of cases rose to more than 77,000. Bloomberg's Tom Mackenzie reports on "Bloomberg Markets."

Novel coronavirus cases top 79,000 amid worsening outbreaks in South Korea and Italy - CNN (Google Business News)
Coronavirus live updates: China reports additional 150 deaths, South Korea cases surge (CNBC Business)

Yahoo BusinessFeb 23, 2020
China's Property Sector Faces Cash Crunch
Feb.23 -- China's debt-laden property developers are facing a cash crunch as the coronavirus outbreak brings the real estate market to its knees. The ramification are potentially huge for the overall economy, with the property sector directly accounting for about 7% of China's GDP. Bloomberg's Katrina Nicholas reports on "Bloomberg Markets: Asia."

CNBC BusinessFeb 23, 2020
BNP Paribas names the Asian stocks to buy during — and after — the coronavirus outbreak
Some Asian markets and sectors could be immune from the economic fallout resulting from the ongoing coronavirus outbreak, said BNP Paribas.

Stock Futures Are Getting Hammered Because Coronavirus Is Still Spreading - Barron's (Google Business News) - Financial MarketsFeb 23, 2020
Oil and Asia stocks fall as coronavirus spreads
Gold gains on signs epidemic is gathering pace in Italy and South Korea

CNBC BusinessFeb 23, 2020
Citi says fear of coronavirus in South Korea is spreading 'at a much faster rate' than the virus itself
Total number of cases rose to 763 on Monday morning, compared to 31 cases reported as of Feb. 18, according to the Korea Centers for Disease Control and Prevention.

Yahoo BusinessFeb 23, 2020
GLOBAL MARKETS-Shares drop, gold surges as investors scurry for safety
Global shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East. South Korea put the country on high alert while the number of infections jumped to over 700 and deaths rose to seven. In Italy, officials said a third person infected with the flu-like virus had died, while the number of cases jumped to above 150 from just three before Friday.

Stocks Slide as Virus Case Rise Heightens Concern: Markets Wrap (Yahoo Business)

Forbes HeadlinesFeb 23, 2020
Investors Are Suddenly Flocking To Safe Haven Assets As The Coronavirus Spreads
Ever since the new coronavirus reared its ugly head, the upbeat performance of global equities markets has confounded investors. Now suddenly, there is a rush to safety. Gold reached a 7-year high of over $1660.00 per troy ounce, bonds are surging, and Bitcoin is up 33% in 2020.

Reuters Company NewsFeb 23, 2020
WRAPUP 2-Global spread of coronavirus raises pandemic fears
* China says death toll up 150 to 2,592, infections rise by 409

Global shares drop, gold surges as investors scurry for safety (Yahoo Business)

Reuters BusinessFeb 23, 2020
Shares drop, gold surges as investors scurry for safety
Global shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East.

MarketWatchFeb 23, 2020
Futures Movers: U.S. stock futures sink on growing concern of outbreak's economic impact
U.S. stock market futures sank late Sunday as the spread of coronavirus raised worries that global economic growth could take a hit.

Korea Confirms 161 New Cases as Outbreak Spreads: Virus Update (Yahoo Business)

Reuters BusinessFeb 23, 2020
G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup
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.

UPDATE 2-G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup (Reuters Company News)

Yahoo BusinessFeb 23, 2020
China Will See Surge in M&A When Coronavirus Clears, Says PwC's Brown
Feb.23 -- David Brown, deals leader for Asia Pacific at PricewaterhouseCoopers LLP, discusses the M&A activity in China and how it's being impacted by coronavirus. He speaks with Haidi Stroud-Watts on "Bloomberg Markets: Asia."

How Strategists and Investors See Coronavirus Playing Out (Yahoo Business)

CNBC BusinessFeb 23, 2020
Coronavirus updates: Austria halts train traffic with Italy, Turkey closes Iran border
Turkey will close its border with Iran as a precautionary measure after the COVID-19 coronavirus outbreak in the country worsened.

Yahoo BusinessFeb 23, 2020
As Pandemic Looms, World's Top Disease Fighter Engages Xi
(Bloomberg) -- Tedros Adhanom Ghebreyesus has perhaps the most thankless job in global public health. As director-general of the World Health Organization, the former Ethiopian health minister is racing against time to prevent a dangerous new coronavirus in China from precipitating a worldwide pandemic.Yet containing and unlocking the secrets of a novel virus that emerged in Wuhan, once a flourishing mega-city of 11 million, is only part of the challenge. Tedros is also engaged in a delicate diplomatic dance with a Chinese government that's sensitive to perceived slights and a big financial supporter of countries across Africa, including Ethiopia, where he also served as foreign minister and a high-ranking member of its former ruling coalition.Tedros needs the support of China's all-powerful President Xi Jinping to increase on-the-ground access for the world's best infectious disease experts. Xi, meanwhile, is facing public anger over his government's handling of the crisis and has bristled at foreign criticism.As the world's first responder to public health crises, Tedros must "strike this complicated balance between being a member-state organization and being this evidence-based beacon on a hill," said Rebecca Katz, director of Georgetown University's Center for Global Health Science and Security. "It's not a job that I would want to do."The viral disease, known as Covid-19, has killed more than 2,400 people and reached four continents in less than two months. On Jan. 30, Tedros, after initially hesitating, d

Google Business NewsFeb 23, 2020
The ugly side to the booming U.S. economy, in one telling chart - MarketWatch
The ugly side to the booming U.S. economy, in one telling chart  MarketWatchA Fed Governor And Watchdog Boss Made A Serious Bitcoin And Crypto Warning  ForbesWhy the coronavirus outbreak is delivering a fresh dose of recession fear to the stock market  MarketWatchView Full Coverage on Google News

Yahoo BusinessFeb 23, 2020
Takeaways from 2020 Warren Buffett Shareholder Letter
(Bloomberg Opinion) -- Investors looking for an angle on the coronavirus crisis have naturally landed upon the online education sector in the hopes that tens of millions of quarantined school kids will turn such providers into profit-making machines on par with China's hottest internet companies.Almost every mainland province and city has pushed back the starting date of the spring term by weeks. Most students haven't seen the inside of a classroom since Lunar New Year in late January. Not wanting to be left behind, students, their schools and parents have turned to online alternatives, including options not offered by traditional education businesses.Giant Alibaba Group Holding Ltd., for example, added 100,000 servers to support its free DingTalk messenger, which is being used across the country to help pupils communicate with teachers and watch online classes. A similar tale is told at WeChat provider Tencent Holdings Ltd.Even San Fransciso-based Seesaw Learning Inc., developer of an early-childhood learning and communication app with less than 10% of revenue from China, saw a 31% jump in traffic from there and 21% from Hong Kong. Co-founder Adrian Graham admits it's hard to tell whether that spike is due to normal post-new year usage increases or the impact of quarantined kids at the mostly international schools in the Greater China region that use the product.As a result, this could be the biggest sustained, mass experiment in online education since the internet was founded in the 1980s. But for those who specialize in educatio

Wall Street Journal US BusinessFeb 23, 2020
World Economy Shudders as Coronavirus Threatens Global Supply Chains
The last time a coronavirus outbreak hit China in 2003, the global economy emerged relatively unscathed. Now, nearly two decades later, the growth-damping effects of a similar pathogen threaten to ripple around a world transformed by China's boom.

Yahoo BusinessFeb 23, 2020
USD/JPY Fundamental Weekly Forecast - Investors Questioning Yen's Worth as Safe-Haven Asset
Why did the Japanese Yen weaken last week? Japan's economy is flirting with recession and the coronavirus could put it over the edge. Last week's data serves as proof that the virus is likely to stamp out hopes for an economic recovery in the first quarter and investors lost confidence in the currency as a safe-haven asset.

Oil Price Fundamental Weekly Forecast - Industry Preparing for Demand Shock Due to Coronavirus (Yahoo Business)

Yahoo BusinessFeb 23, 2020
Gold jumps over 2% as coronavirus spread spurs safe-haven demand
U.S. gold futures rose 1% to 1,665. "The thinking is that fewer people are holding shares, selling down in particular, and that money has to fall into havens," said Michael McCarthy, chief market strategist at CMC Market. Global equities extended losses as concerns about the spread of the virus beyond China grew with sharp rises in infections in Italy and Iran, while South Korea raised its infectious disease alert to its highest level. - USFeb 23, 2020
Coronavirus latest: Rise in cases outside China rattles markets
Guo Shuqing's legacy will hinge on whether he can counter outbreak's economic impact

Yahoo BusinessFeb 23, 2020
Oil prices fall 2% on demand concerns as coronavirus spreads outside China
Oil prices tumbled more than 2% on Monday as investors worried about a hit to demand from the coronavirus outbreak, which is spreading rapidly outside China. U.S. crude futures fell by $1.26 or 2.3% to $52.12. Concerns about the coronavirus grew on Sunday after sharp rises in infections in South Korea, Italy and Iran.

Google Market NewsFeb 23, 2020
Don't Send Them Here: Local Officials Resist Plans to House Coronavirus Patients - The New York Times
Don't Send Them Here: Local Officials Resist Plans to House Coronavirus Patients  The New York TimesCosta Mesa, California coronavirus quarantine blocked by federal judge  Washington TimesJudge blocks the transfer of coronavirus patients to a city in Southern California  CNNFederal and state agencies blast Costa Mesa's action against sending coronavirus patients to Fairview  

Yahoo BusinessFeb 23, 2020
The Australian Dollar Nears a Tipping Point Thanks to Ultra-Low Rates
(Bloomberg) -- A decade-long slide in Australian interest rates is threatening to turn one of the global currency market's most popular wagers on its head.Investors with an appetite for a little risk had a winner for years with a carry trade that saw them borrow trillions of yen at near-zero rates and use the money to buy Australian dollars. Holding onto the Aussie for as little as a few weeks could earn them enough interest to make the trade pay. Those brave enough to stick with it for months or more made huge profits.Not anymore.Foreign exchange traders are starting to look Down Under as a place to source cheap funds, not somewhere to invest them. It's quite a snub for a nation in its 29th year of economic expansion, and comes as policy makers struggle to counter the financial impact of drought, wildfires and the coronavirus."If you'd told me five years ago that the Aussie would become a nice funding currency, I'd have been laughing at the absurdity of the idea," said Shaun Roache, chief Asia-Pacific economist at S&P Global Ratings in Singapore. "It's a remarkable shift in mindset for markets."It's a far cry from the heyday of the currency in 2011, when much of the developed world was still clawing its way back from the global financial crisis. Australia had skirted recession, the local dollar was worth more than its U.S. namesake and the central bank's benchmark rate was a healthy 4.75%.It's now a record-low 0.75%, and tipped to go lower.While loans in yen and euros are still

Reuters BusinessFeb 23, 2020
G20 finance heads see modest growth pickup, to monitor coronavirus
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.

Reuters BusinessFeb 23, 2020
Oil prices skid on demand concerns as virus spreads globally
Oil prices tumbled nearly 3% towards a one-week low on Monday as the rapid spread of the coronavirus in several countries outside China left investors fretting about a hit to demand.
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