Economic news

GFL Environmental Inc raised nearly $1.4 billion in its IPO, pricing shares below target range in an attempt to withstand market volatility amid the virus outbreak. The Canada-based waste management company valued its IPO at $19 per share, slightly lower than the $20-$21 per share target range and a market value of $6.08 billion. The […]

Hyundai Motor closed its factory in South Korea on Friday after one of its workers was confirmed to be infected by the novel coronavirus. The factory operations are suspended indefinitely with popular car models including Palisade sport utility vehicle production being disrupted. After the news broke, Hyundai Motor’s shares in the stock markets slid 5%. […]

Reuter’s survey revealed that the Bank of Canada will keep its interest rates steady at 1.75% on Wednesday. However, monetary easing is seen to be imposed before the year ends, according to a significant number of economists surveyed in the poll. Twenty of 34 or 60% (majority) of the economist-respondents said that Canada’s central bank […]

Private home prices in Hong Kong declined for the second consecutive month in January, with a 0.2% dip as coronavirus outbreak hounds the property and real estate sector that has not fully recuperated from the previous burden brought by the mass protest in 2019. In December, home prices by 1.6% while 4.7% difference in sales […]

The London Stock Exchange (LSE) said on Friday that it was “on track” to completing its takeover of the analytics company, Refinitiv, after a clearing activity led to a higher-than-expected annual income. According to LSE CEO David Schwimmer, the $27 billion deal with Refinitiv is planned to be fulfilled by the second half of 2020. […]

The Japanese Yen on Friday rose to a one-month high after the reports of the virus spreading outside of China piled on concerns and sent investors retreating to safe-haven assets. Hopes of the virus containment in China diminished after several cases were reported on different continents, prompting governments to take action.   The Yen jumped […]

BEIJING- Optimism that the coronavirus contagion would be contained in China disappeared on Friday as the disease reached wider scope, hitting other nations. To prepare for a worldwide pandemic, countries started hoarding medical equipment and investors sought safety on the possibility that a global recession may occur. Shares fell flat and were heading towards its […]

SINGAPORE- Oil prices recorded six consecutive days of decline, its weakest weekly performance in more than four years. Such drop was heavily brought by the fast-paced spread of the novel coronavirus which sparked concerns that the possibility of pandemic may directly affect oil demand. Investors grew wary that the continuous spread of the disease which […]

European shares dropped again on Thursday, with a deeper hit for travel stocks due to a sudden rise in coronavirus cases outside China. This news heightened fears on its impact on global growth. Many blue-chip companies released profit warnings, with the Standard Chartered sliding 3.4% after saying that key earnings target would need more time […]

Box Inc. predicted its first-quarter revenue to beat Street estimates due to higher demand for its online software products, causing its shares to gain 9% in extended trading. The company beat fourth-quarter profit and revenue, lifted by its add-on services and the subscription of bigger companies to its products. As companies move to an online […]