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HELSINKI, Finland (AFP) — Nokia’s chief executive officer Rajeev Suri will leave the telecom equipment provider in September and be replaced by the current head of Finnish energy group Fortum, Nokia announced on Monday. Pekka Lundmark will take over on September 1, Nokia said. Suri, who has been Nokia’s president and CEO since April 2014, had “indicated earlier to the board that he was considering stepping down from his role at some point in the […]
HONG KONG, China (AFP) — Most Asian markets rose Monday as bargain-buyers moved in following last week’s global rout, but investors continue to fret over the economic fallout from the new coronavirus as the worldwide death toll rises. After equities suffered their worst week since the financial crisis more than a decade ago, central banks began to flag support measures, with Federal Reserve boss Jerome Powell hinting at a fresh interest rate cut at the […]
TOKYO, Japan (AFP) — Tokyo shares tumbled on Friday, extending losses to a fifth day and tracking a global retreat fanned by worries over the economic impact of the coronavirus outbreak. The benchmark Nikkei 225 dropped 3.67 percent, or 805.27 points, to 21,142.96 — leaving it down 9.59 percent in a holiday-shortened week. The broader Topix index lost 3.65 percent, or 57.19 points, to 1,510.87 to close with the weekly loss of 9.74 percent. European […]
HONG KONG, China (FP) — Asian markets spiraled downwards on Friday, tracking a collapse in New York and Europe as the coronavirus spread rapidly around the world with the WHO warning the deadly epidemic was now at a “decisive point”. Tokyo and Jakarta were hammered more than four percent, while Shanghai, Sydney, Seoul, and Bangkok tanked more than three percent each. The casualties have put equities around the world on course to record their worst […]
PARIS, France (AFP) — Chinese telecom giant Huawei said Thursday that it would begin manufacturing radio equipment for next-generation 5G networks in France, its first such facility outside of China. Huawei, which has become caught up in a bruising trade war between Beijing and Washington, has been attentively courting Europe as it tries to offset lost business in the US. Its planned 200-million-euro ($218-million) French facility will employ 500 people and produce equipment for the […]
LONDON, United Kingdom (AFP) — Stock markets and oil prices slid again Wednesday, as major companies began to count the financial cost of the spreading coronavirus. Heavy selling followed another rout Tuesday on Wall Street where all three main indices lost around three percent after officials said COVID-19 would likely take hold in the United States. With cases being reported in more countries — and lockdowns in nations including Austria, Italy and Spain — […]
HONG KONG, China (AFP) — A sea of red washed across Asian markets on Wednesday, with the coronavirus spreading rapidly around the world and health chiefs warning that governments were not prepared for the outbreak. The heavy selling, after a day of relative calm caused by bargain-buying, followed another rout on Wall Street where all three main indexes lost around three percent after officials said COVID-19 would likely take hold in the United States. With […]
https://youtu.be/SNhoLO_OOAY (Eagle News) – The Department of Trade and Industry (DTI) is looking for “alternative options” to minimize the impact of the decision of Honda Cars Philippines to close its production in the country which will affect some 380 workers. Honda, in a statement issued on Monday, Feb. 24, said that it would close its plant in Sta. Rosa Laguna effective this March. It said that this is “to meet Honda’s customer needs in […]
HONG KONG, China (AFP) — Seoul led a sharp drop across Asian and European equity markets Monday as South Korea announced a surge in COVID-19 infections, while oil plunged and safe-haven assets rallied on growing concerns about a possible pandemic. With the outbreak showing little sign of easing, investors are increasingly concerned it could have a much longer-term impact on the world economy, which was already stuttering, with a number of companies warning about […]
NEW YORK, United States (AFP) — More cases of the new coronavirus outside China along with warnings by major companies that their earnings could be hurt caused most stock markets to pull back on Friday. “Coronavirus was back at the top of the agenda on Friday, with a rising number of new cases in China and South Korea putting the fear in investors,” remarked Spreadex analyst Connor Campbell. More than 2,200 people have died […]
PARIS, France (AFP) — Lawyers for Carlos Ghosn on Friday delayed a lawsuit seeking a hefty retirement payout from his former employer Renault, saying the French carmaker had not given them enough time to prepare arguments. The court in Boulogne-Billancourt, near Renault’s headquarters outside Paris, granted the request for more time, setting a new hearing date for April 17. “We received Renault’s arguments only on Monday, and having just four days to respond to 20 […]
HONG KONG, China (AFP) — A spike in new virus cases outside China spooked Asian markets Friday after Wall Street pulled back from record highs as more companies warned earnings could be hurt by the epidemic. More than 2,200 people have died from the novel coronavirus, which has infected over 75,000 people, mostly in China, and spread panic around the world. While Beijing claims it’s epidemic control efforts are working, the rising death toll and […]
