Company profit warnings signal coronavirus is already a global crisis

SYDNEY - For big business, the impact of the new coronavirus epidemic is already being felt worldwide.

The US credit-card network cut its revenue-growth forecast as the spread of infections puts off travelers. United scrapped its 2020 profit forecast altogether, underscoring the unpredictable nature of the two-month-old health emergency. Increasingly, though, the coronavirus has become a concern for any industry fed by a global supply chain.

SPREADING GLOBALLY The number of coronavirus cases in South Korea soared over the past week, rising from just dozens to more than 800, making it the most-infected country outside China. Meanwhile swathes of Italy are in lockdown, and total cases worldwide have topped 80,000.

Since 2018, I have been discussing prospects of the next economic crisis with my close friends and colleagues. I could predict a collapse; but very difficult to specify a timeline because nobody knows what will become the trigger. Unfortunately, COVID19 happens to be it.

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US: Stocks join global rout on coronavirus fearsRead more at The Business Times.
منبع: BusinessTimes - 🏆 15. / 51 ادامه مطلب »

Singapore stocks in relief rebound, most of Asia still shaky day after coronavirus-fuelled global routSINGAPORE - Singapore stocks enjoyed a relief rebound on Tuesday morning (Feb 25) even as most of Asia continued their slide as signs that the coronavirus outbreak here seems to be largely contained overcame bearish sentiment over a more than 1,000 point plunge in the Dow Jones Industrial Average overnight.. Read more at straitstimes.com.
منبع: The Straits Times - 🏆 8. / 63 ادامه مطلب »

Asia stocks extend global selloff on coronavirus pandemic fearsSYDNEY (REUTERS) - Asian shares extended losses on Tuesday (Feb 25) amid fears the coronavirus outbreak was rapidly mutating into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought.. Read more at straitstimes.com.
منبع: The Straits Times - 🏆 8. / 63 ادامه مطلب »