The global market With a turbulent week more concerned about the economic impact of the Coronavirus outbreak. The The S&P500 The index fell by 3. 4%, in one day, its worst daily performance in two years; more than a week, which is down 8% from the record high it had recently obtained. Stock markets in Europe and Japan also fainting. As investors flocked into safe assets, the yield on ten-year We Treasury closed at its lowest ever point. The Volatility The index, a measure of stock market volatility, spiked to its highest level in two years. See Article.
The price of oil Also fell sharply, as the coronavirus cause the forecast to reduce their demand forecasting a sharp decline. Brent crude oil traded under $ 53 a barrel, a big dip from almost $ 70, it has already reached at the beginning of the year. Restrictions on travel because of the outbreak could cost the The aviation industry A separate$29bn in lost revenue, according to one estimate.
A long list of companies warning about the impact of Cov In their business, including Microsoft, Anheuser-Busch and InBev Rio Tinto. The latter is a large supplier of iron ore to China, where dozens of blast furnaces have been closed, because of the limited movement.
Wells Fargo Agreed to pay$3bn to settle with the U.S. Department of justice and the Securities and Exchange Commission in a wrong selling scandal. 2002 and 2016 of the thousands of employees in the banks who are under pressure to meet sales goals created millions of false account customers. Scandals damage the image of Wells Fargo Bank, some banks to get rid of financial crisis, it’s reputation intact.
Mexico’s gross domestic product Contraction of 0. 1%, in 2019, the first full year in power of President Andres Manuel Lopez Obrador. Mr. López came to the office want to turbo charge growth through a mixture of consumption and investment, but last year’s economic performance the worst in a decade. The Central Bank cut its forecast for growth in the year. See Article.
Sales Recorded music In the Americas hit$11bn last year, the most in the past decade, although there is still some way short of the $ 14. 6 billion created in 1999, when CDs domination of the charts. Four-fifths of the music revenue comes from streaming.
Although he announced and then delayed his departure four times, as Disney CEO Bob Iger Take the market, as well as employees, by surprise, when he went down to work, effective immediately. After taking the reins, Mr. In 2005, the expansion of Edgar Disney of the content directory to obtain several movie studios(the ultimate in 21st Century Fox last year), go to the Disney music Behemoth. Iger, Mr. stay on as Executive Chairman until 2021 to focus on the creative aspects of the business. Bob Chapek, new CEOJust running the Disney theme parks, will report to Mr. Iger, Mr.. See Article.
HP To say that it is”in-depth” Xerox To explore whether the combination of the two companies will be in shareholders ‘ interests. However, it also announced a $ 15bn share repurchase program, almost half of its market value, and a complex road such a tie. Xerox has been hostile in its$35bn acquisition of computer and printer manufacturer.
In his annual letter to shareholders, Warren Buffett To defend the investment strategy of Berkshire Hathaway, his holding company, the company-insurance, stock market bets and industrial activities. Last year, Berkshire’s share price recorded its worst performance of the broad market in a decade. However, its net profit of $ 81. 4 billion(mainly because of changes in the accounting rules). Separately, Mr. Buffett, a renowned technophobe, shows that he has begun to use, although the only dialogue. See Article.
This measure will force Apple To consider the right to freedom of expression in China with the support of 40% of the shareholders present the meeting. A similar project has been put to the vote before, but drew little support; today, investors seem more keen on pushing the company to adopt a purpose-driven agenda.
Only bag to go
Amazon to open its first Go to the supermarketNo cashier, simply to charge customers via an application program project, they have been taken from the shelves provided with the sensor. A supermarket in Seattle on the basis of the use of technology in the two dozen convenience store that Amazon operates. The early issues include precisely heavy water fruit and vegetables. The customer must take a product back to the correct place if they don’t want to be charged, a potential nightmare for those who have enough trouble handling the self-checkout machine.
Volkswagen The boss said he wanted to adopt a young green activists may be pushing the Committee to take a more active stance on climate change. Sounds like a perfect job for Greta Thunberg.
This article appeared in the world this week part of the printed version under the title”business this week”