Pharmaceutical stocks have been somewhat of a safe haven for investors as the coronavirus outbreak spread from China to the rest of the world. But as the pandemic deepened, now resulting in more than 782,000 cases worldwide, even these "safer" companies are beginning to feel th
South African state utility Eskom has told independent wind farms that it could buy less of their power in the coming days, as electricity demand has plummeted during a lockdown aimed at curbing the spread of the coronavirus.
The world's biggest maker of medical gloves is grappling with a serious shortage of workers as it tries to meet a huge surge in demand as countries such as the United States run out of personal protective gear due to the coronavirus outbreak.
China stocks finished the first session of the second quarter lower on Wednesday, in line with broader Asia, though losses were capped by hopes Beijing would unveil more measures to bolster the economy hit by the coronavirus pandemic.
Global sales for Hyundai Motor Co tumbled 21% in March to an 11 year-low for the month as the coronavirus pandemic batters demand and forced several of its overseas plants to suspend production.
Denmark's economy is set to contract by 5% this year as the coronavirus outbreak hits the Nordic economy, the country's central bank said on Wednesday.
Australia's retailers are putting limits on purchases of alcohol as hoarders turn their attention from toilet paper and other household essentials to drink amid a widespread shutdown to slow the spread of the coronavirus.
European scientists and technologists said they would launch a joint initiative on Wednesday to support the use of digital applications in the fight against coronavirus while complying with the region's tough privacy laws.
Israel sold $1 billion of 100-year bonds in international markets as part of a record $5 billion fundraising to finance government aid to help the economy cope with the coronavirus outbreak.
(RTTNews) - French lender Societe Generale SA (SCGLF.PK, SCGLY.PK) announced that it is suspending fiscal 2020 targets and dividends due to the coronavirus or Covid-19 pandemic. In France, the shares were losing around 4 percent in the early morning trading on Wednesday.
Match Group (MTCH) has issued a statement warning that Q1 results are likely to fall around the low end of the previously estimated range due to the impact of Covid-19.
“While we have seen increases in engagement trends among younger users, we are seeing fewer new users joining our products. This impact is most pronounced among users over the age of 30 and varies by region, depending on the level of COVID-19 containment” the Tinder-owner explained. That's despite an increase in the number and length of conversations on Tinder, which are up anywhere from 10-30% in many countries since the outbreak started.
As a result CEO Shar Dubey moved to modify investor expectations for the current quarter, writing: “We expect the virus’s impact may make it challenging to grow revenue from Q1 to Q2 this year, although we currently believe we will have year-over-year Q2 revenue growth.”
Match also announced the delay of several product feature and press launches, including the international launch of Swipe Night on Tinder. To offset revenue decline, the company plans to reduce some expenses including marketing spend.
However, Match’s proposed separation from US media giant IAC (IAC) is still expected to close sometime in Q2, though the company adds that the timing could be impacted by the current pandemic. Overall, TipRanks reveals that Match scores a Moderate Buy consensus based on 12 analyst ratings over the last three months. With shares down 19% year-to-date, analysts are now predicting upside of 32% from current levels.
(RTTNews) - Continental AG (CTTAY.PK) said, due to business impacts from COVID-19 Pandemic, the company's Executive Board has decided to withdraw the outlook for fiscal 2020. Over 40 percent of Continental's production locations worldwide have temporarily ceased activities.
London's stock markets suffered sharp losses on Wednesday, as banking shares dived after suspending dividend payments, while plunging factory activity across Asia underlined the economic hit from the coronavirus pandemic.
Fresenius Medical Care (FMC) on Wednesday said it was working with other dialysis providers to provide care in isolation for people with kidney problems in the United States who are or may be infected with coronavirus.
Iran's president said on Wednesday the United States had missed a historic opportunity to lift sanctions on his country during the coronavirus outbreak, though he said the penalties had not hampered Tehran's fight against the infection.
Miner Teck Resources Ltd suspended its 2020 financial forecasts on Wednesday and said it expected steelmaking coal production to drop to about 80-85% of normal levels in an initial two-week slowdown from March 25 due to the coronavirus outbreak.
UK online car marketplace Auto Trader said on Wednesday it would sell up to 46.5 million new shares, worth 5% of its share capital, to institutional investors in a bid to shore up cash during the coronavirus crisis.
Vietnam Oil and Gas Group is cutting employee salaries to rein in costs as it grapples with low oil prices and a coronavirus pandemic that has infected 212 people in the southeast Asian nation, the company said on Wednesday.
Factory activity contracted sharply across most of Asia in March as the coronavirus pandemic paralyzed economic activity across the globe, with sharp falls in export power-houses Japan and South Korea overshadowing a modest improvement in China.
Chinese property firms facing a wave of maturing debt will raise funds on the mainland to refinance their offshore borrowings as funding conditions loosen in the world's second-largest economy at a time when the dollar bond market is slumping.
Reuters
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