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CNBC BusinessFeb 18, 2020
Coronavirus live updates: Director of hospital in Wuhan, China dies
The Wuhan Municipal Health Commission said Liu Zhiming died at 51 years old after an all-out rescue attempt failed.

Coronavirus death toll tops 1,800 as 780 million remain on lockdown in China - CNN (Google Business News)

Yahoo BusinessFeb 18, 2020
HSBC Takes $7.3 Billion Charge in Global Revamp of Lender
(Bloomberg) -- HSBC Holdings Plc is taking about $7.3 billion of charges and exiting several business units in its latest attempt to revive its fortunes since the global financial crisis.The London-based lender is also targeting cost cuts by $4.5 billion as it faces challenges including Hong Kong protests and the coronavirus. HSBC, which earns the bulk of its profits in Asia, is still hunting for a permanent chief executive officer while interim boss Noel Quinn runs the lender and attempts to convince the still undecided board he's the right person at the top."Parts of our business are not delivering acceptable returns," Quinn said in a statement as part of its full-year earnings on Tuesday. "We are therefore outlining a revised plan to increase returns for investors."HSBC shares had their biggest drop in six months in Hong Kong and dropped as much as 3.2% in trading.Cutbacks at HSBC will extend into parts of its European and U.S. investment banking businesses, particularly in fixed income. In the U.S., assets linked to its trading operations will be nearly halved under the new plan. HSBC is also scaling bank its retail network by 30%.The lender will instead bolster its investment banking units in Asia and the Middle East.A refreshed strategy is a key plank to Chairman Mark Tucker's plans to transform HSBC as questions have mounted over its relatively poor returns given its exposure to many of the world's fastest-growing economies, in particular China where it has focused its investment.The $7.3 billion in charges includ

Reuters BusinessFeb 17, 2020
Oil prices fall as market weighs coronavirus demand impact
Oil prices fell on Tuesday, tracking losses in financial markets on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand.

Apple warns sales to fall short of target due to coronavirus impact (Reuters Business)
UPDATE 5-Apple warns sales to fall short of target due to coronavirus impact (Reuters Company News)

Reuters Company NewsFeb 17, 2020
JGBs rise as virus impact fuels equities sell-off
Japanese government bond (JGB) prices gained broadly on Tuesday, as a slide in equities increased the appeal of the safe-haven debt after Apple Inc warned on quarterly revenue due to the coronavirus epidemic in China.

Yahoo BusinessFeb 17, 2020
Stocks, Bond Yields Decline After Apple Warning: Markets Wrap
(Bloomberg) -- Asian stocks fell with U.S. futures and bond yields after Apple Inc. said quarterly sales would miss forecasts, illustrating the blow to corporate earnings and economic growth from the deadly coronavirus.Equity benchmarks in Tokyo, Seoul and Hong Kong saw declines of over 1%. Sydney and Shanghai saw more modest drops. Apple suppliers including TDK Corp. and Tokyo Electron Ltd. slumped after the iPhone maker warned on both production and sales disruptions due to the epidemic. Ten-year Treasury yields slumped as trading restarted following a U.S. holiday Monday. Australia's dollar dropped after the central bank said it had discussed cutting interest rates two weeks ago.Tuesday's trading session saw renewed concerns about the coronavirus impact, even as the growth rate of cases in China's Hubei province -- the epicenter of the disease -- continues to stabilize. It's a turnaround from Monday, when sentiment was lifted by Chinese policy makers' moves to support companies hit by the prolonged shutdown of large parts of the country. China's stocks had recouped all of their losses following the Lunar New Year holiday."So far I believe that most of what we are seeing is delayed consumption," Andy Kapyrin, a partner at RegentAtlantic Capital, told Bloomberg TV. If the scenario turns into destruction of demand, that "can start to have serious economic ramification," Kapyrin said.In a statement late Monday, Apple said that while work is starting to resume in China, "we are experiencing a slower return to

GLOBAL MARKETS-Stocks fall after Apple warns on coronavirus impact (Reuters Company News)

Reuters Company NewsFeb 17, 2020
UPDATE 4-Apple unlikely to meet revenue guidance due to coronavirus impact
Apple Inc warned on Monday it was unlikely to meet a sales target set just three weeks ago amid lost production and weakening demand in China from the coronavirus outbreak.

Apple to Fall Short of Projected Revenue Due to Coronavirus (Wall Street Journal US Business)

Reuters BusinessFeb 17, 2020
Stocks fall after Apple warns on coronavirus impact
Asian shares fell and Wall Street retreated from record highs on Tuesday after Apple Inc said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China.

Washington Post BusinessFeb 17, 2020
To Ray Dalio, $10 Million for China Is Pocket Change
Hedge-fund billionaires are sending donations to help fight coronavirus in China. The timing is convenient.

CNBC BusinessFeb 17, 2020
Apple says it will miss quarterly guidance amid coronavirus outbreak, China death toll tops 1,800
Apple detailed coronavirus' retail and supply impact as businesses around the world begin to calculate the early financial toll of the deadly outbreak.

Apple unlikely to meet revenue guidance due to coronavirus impact (Reuters Business)

Reuters Company NewsFeb 17, 2020
WRAPUP 2-Coronavirus infections slow in China as Apple becomes latest business casualty
The number of new coronavirus infections in mainland China fell below 2,000 on Tuesday for the first time since January, although global experts warn it is still too early to say the outbreak is being contained.

Yahoo BusinessFeb 17, 2020
Apple Won't Meet Quarterly Revenue Target Due to Coronavirus
(Bloomberg) -- Apple Inc. doesn't expect to meet its revenue guidance for the March quarter due to work slowdowns and lower demand due to the outbreak of novel coronavirus in China.The company said that the iPhone, which generates the bulk of Apple's revenue, is temporarily constrained due to production ramping up more slowly than anticipated. "Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated," the company said in a statement Monday. In addition, demand for iPhones has been reduced because stores in China have been closed or operating with reduced hours and few customers, the company said.Apple had forecast revenue of $63 billion to $67 billion for the fiscal second quarter ending in March. Analysts on average estimated $65.23 billion, according to data compiled by Bloomberg. The company said in January when it announced its guidance that it anticipated factories reopening beginning Feb. 10. That process however has been slow as factory workers and manufacturing partners look to contain the virus, which has resulted in about 1,800 reported deaths in China, from spreading further."This is the double-edged sword of being in China," said longtime Apple analyst and Loup Ventures co-founder Gene Munster. "They're the only big company with China exposure, so they are working through the pain of what has largely been a success for the company over the past decade." Apple is the only major U.S. technology giant to offer the majority of

Reuters Company NewsFeb 17, 2020
Nikkei falls to two-week low as Apple warning hurts technology stocks
Japanese stocks fell to two-week low on Tuesday, dragged down by tech companies after Apple Inc warned it was unlikely to meet its sales target for the March quarter as the coronavirus outbreak hurt production and demand in China.

Forbes HeadlinesFeb 17, 2020
Blockchain Technology Can Help Xi Jinping And China Find Redemption After Coronavirus
Growing at slightly over 6%, China's economy remains the envy of the western world. However, it is expanding at its slowest pace since 1990, long before anyone heard the word coronavirus. Now, blockchain technology might be China's last chance to turn things around.

Reuters BusinessFeb 17, 2020
Oil prices slip as coronavirus concerns linger
Oil prices slipped on Tuesday on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand, tracking losses in financial markets.

Reuters Company NewsFeb 17, 2020
EMERGING MARKETS-Corporate updates, China measures help Brazil outperform Latam stocks
Stocks in Latin America edged higher on Monday, led by Brazil's Bovepsa, following positive corporate updates, while investor anxiety around the impact of a coronavirus outbreak was soothed by China's stimulus measures. China's central bank cu

METALS-China stimulus helps copper to three-week high (Reuters Company News)
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