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COVID-19 to cost world tourism at least US$22 billion

MADRID: The deadly coronavirus epidemic will cost world tourism at least US$22 billion owing to a drop in spending by Chinese tourists, the head of the World Travel and Tourism Council said on Thursday (Feb 27). The COVID-19 epidemic has killed more than 2,760 people, mostly in China -...

Markets

Investors ditch market risk as stocks fall into correction

Fears of a sustained global economic impact as the coronavirus rapidly spreads beyond China have sent investors scrambling to find safety less than 10 days after the U.S. stock market set record highs.

Markets

IMF, World Bank funds ready to fight coronavirus outbreak

WASHINGTON: The International Monetary Fund and World Bank are ready to provide countries in need with immediate emergency funding to fight the coronavirus outbreak, a spokesman said on Thursday (Feb 27). While they have yet to receive a request for aid, the institutions "have now developed ...

Markets

FCC to propose US$200 million fines for US cellphone carriers over consumer data disclosures

The U.S. Federal Communications Commission (FCC) is set to propose fining four major U.S. mobile phone companies expected to total at least US$200 million in total for improperly disclosing some consumer real-time location data, two people briefed on the matter said.

Markets

Tellurian stock falls after company extends US LNG sale negotiations with Petronet

Tellurian Inc stock dropped on Thursday after the company said it extended the amount of time India's Petronet LNG Ltd had to finalize an agreement to buy liquefied natural gas (LNG) from Tellurian's Driftwood plant in Louisiana.

Markets

Commentary: India is facing twin economic and political crises

The growth slowdown in India has been dramatic, while politics takes an aggressively disturbing turn, says the Financial Times' Martin Wolf.

Markets

Bed Bath & Beyond to cut about 500 jobs

Home furnishing retailer Bed Bath & Beyond Inc said on Thursday it would cut about 500 jobs, including management positions, as part of a restructuring program.

Markets

US SEC orders Wells Fargo to pay US$35 million penalty

The U.S. Securities and Exchange Commission said on Thursday it had ordered Wells Fargo & Co to pay US$35 million to settle charges it failed to adequately supervise investment advisers.

Markets

Occidental posts quarterly loss on impairment, charges

Occidental Petroleum Corp reported a quarterly loss on Thursday, as it took more than US$1.7 billion in impairment and other charges.

Markets

Mylan posts 60per cent fall in fourth-quarter profit

Drugmaker Mylan NV reported a nearly 60per cent fall in its fourth-quarter profit on Thursday, hurt by a higher income tax provision.

Markets

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