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Reuters Company NewsJan 23, 2020
China's mask makers cancel holidays, jack up wages as new virus spurs frenzied demand
Chinese face mask manufacturers are reopening factories shut for a national holiday, promising workers up to four times their normal wages as consumers emptied out stock in stores in a race to protect themselves from the new coronavirus infection.

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WRAPUP 5-China locks down two cities at epicentre of virus outbreak (Reuters Company News)
EMERGING MARKETS-Stocks out of gas as China virus fears worsen; lower oil prices hit rouble (Reuters Company News)

Yahoo BusinessJan 23, 2020
Stocks Drop, Bonds Gain on Virus Fears; Oil Slides: Markets Wrap
(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.

CNBC BusinessJan 23, 2020
'The worst has yet to come,' analyst says of China coronavirus outbreak
Much is still unknown about the spreading China virus, and one analyst says there could be more clarity after the Lunar New Year holidays.

Reuters BusinessJan 23, 2020
Virus fears keep stocks red; ECB gets ready to rethink
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.

CNBC BusinessJan 23, 2020
Coronavirus outbreak could 'significantly affect' travel volume to Australia, Moody's says
Tourists from China now account for over 15% of total short-term inbound travelers to Australia, as compared with just 4% in 2003, according to Moody's.

Reuters Company NewsJan 23, 2020
GLOBAL MARKETS-Virus fears keep stocks red; ECB gets ready to rethink
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.

Reuters Company NewsJan 23, 2020
WRAPUP 4-China locks down city of 11 mln at epicentre of virus outbreak
China is putting on lockdown a city of 11 million people considered the epicentre of a new coronavirus outbreak that has killed 17 and infected nearly 600, as health authorities around the world scramble to prevent a global pandemic.

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China locks down city at center of virus outbreak - DW (English) (Google Business News)

Yahoo BusinessJan 23, 2020
Chinese Stocks Plunge in Worst End to Lunar Year on Record
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Panic coursed through the world's second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China's week-long trading break.The Shanghai Composite Index settled 2.8% lower after the close of trading, the worst end to a Lunar Year in its three-decade history. More than 90% of the mainland's 4,000 stocks fell on volumes that were 20% above average, with foreign traders selling a record $1.7 billion worth of the shares via links with Hong Kong. The yuan weakened as much as 0.4% and government bond futures rose to the highest since 2016.Pressure is building on Beijing to contain a new SARS-like virus that's killed at least 17 people and infected hundreds. The coronavirus first appeared last month in the city of Wuhan in central China, a city with 11 million residents -- more than in London or New York -- that's now essentially in lockdown after officials halted public travel.Inside China's Virus Zone, Unease Grips a City in Lockdown"Fear and panic are rampant," said Wang Daixin, a fund manager at Bristlecon Pine Asset Management Ltd. "It's hard to tell how bad things will get before a turn for the better. I didn't get out when I had the chance to, so now I might as well sit it out rather than lose money. Others are offloading at whatever cost."The virus and its potential impact on the economy and financial system pose a growing challenge for President Xi Jinping. It c

Reuters BusinessJan 23, 2020
Oil skids as specter of China virus looms over fuel demand, economy
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.

FT.com - USJan 23, 2020
Wuhan hospitals overwhelmed as China fights coronavirus
Travel links to city shut down in bid to curb worst viral outbreak since Sars in 2003

Reuters BusinessJan 23, 2020
Steep losses in China stocks hit Asia, oil tumbles as virus fears grow
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.

RELATED ARTICLES
GLOBAL MARKETS-Steep losses in China stocks hit Asia, oil tumbles as virus fears grow (Reuters Company News)

Reuters BusinessJan 22, 2020
After China trade deal, Europe and UK next on Trump's to-do list
U.S. President Donald Trump vowed to rip up international trade deals and rebalance America's global trade relationships.

Yahoo BusinessJan 22, 2020
U.S. home sales surge to near two-year high; supply at record low
U.S. home sales jumped to their highest level in nearly two years in December, the latest indication that lower mortgage rates are helping the housing market to regain its footing after hitting a soft patch in 2018, though record low inventory could be an obstacle to continued strong gains. The report from the National Association of Realtors on Wednesday followed on the heels of government data last week showing homebuilding raced to a 13-year high in December. Renewed housing market momentum could soften some of the hit on the economy from manufacturing as the thaw in U.S.-China trade tensions is offset by Boeing's suspension this month of production of its troubled 737 MAX plane.


Yahoo BusinessJan 22, 2020
Texas Instruments Points to Signs of Chip Industry Revival
(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.

CNBC BusinessJan 22, 2020
Business leaders in Davos privately express concerns about China's coronavirus outbreak
U.S. and global business leaders in Davos are privately expressing concerns about the coronavirus from China.

Wall Street Journal US BusinessJan 21, 2020
President Trump Lauds U.S. Economy as He Opens World Economic Forum
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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