Chinese aluminium smelters have cut their annual production capacity by up to 340,000 tonnes in response to a coronavirus-driven plunge in prices of the metal, analysts estimate, chiefly by placing ageing pots under maintenance.
South African businesses braced for a nationwide lockdown and panic buyers stockpiled food and other essentials on Tuesday as the number of confirmed coronavirus cases jumped to 554 from 402 a day earlier.
Global airlines urged governments on Tuesday to speed up bailouts to rescue the air transport industry as they doubled their estimate of 2020 revenue losses from the coronavirus crisis to more than $250 billion.
The U.S. Senate could pass a $2 trillion coronavirus economic stimulus package as soon as Tuesday, negotiators said, insisting they had made significant progress despite failing so far to reach a bipartisan deal on the sweeping legislation.
The world's biggest pork processor, WH Group Ltd, reported on Tuesday a 32% jump in 2019 profits as record high pork prices in China boosted the value of the company's exports from the United States and lifted margins on its China sales.
Canada's main stock index futures rose on Tuesday as investors were encouraged after the U.S. Federal Reserve took aggressive measures to prop up the economy, a move which also boosted the price of oil.
EU antitrust regulators have set a new deadline of July 24 to decide whether to clear Ray-Ban maker EssilorLuxottica's 7.2-billion-euro ($7.8 billion) bid for Dutch opticians group GrandVision.
Chinese aluminium smelters have cut their annual production capacity by up to 300,000 tonnes in response to a coronavirus-driven plunge in prices for the metal, analysts estimate, chiefly by placing ageing pots under maintenance.
Austria will start using more rapid tests to be able to test hundreds of thousands of people as quickly as possible, Chancellor Sebastian Kurz said on Tuesday.
China's HNA Group on Tuesday warned of the impact from the coronavirus pandemic on its overseas subsidiaries, adding that most of them had enough cashflows to cope with the impact over the short term.
South Africa's confirmed number of coronavirus cases rose to 554 on Tuesday from 402 a day earlier, as businesses raced to make plans for a nationwide lockdown from midnight on Thursday.
Sports Direct, Britain's largest sports retailer, wants to keep its shops open despite new regulations requiring non-essential shops to close during the coronavirus outbreak, and has asked the government for permission to do so.
Britain's biggest sportswear retailer JD Sports said on Tuesday it has delayed the publication of its financial results to May and has enough cash resources to ride out the coronavirus crisis.
Sports Direct stores will only open if they are given permission to do so, the finance chief of the retailer's parent group said on Tuesday, clarifying an earlier email to its staff.
The pandemic is taking its toll on aerospace manufacturing, as Boeing Co announced it would halt production of most widebody jets and Airbus SE restarted only partial output after a four-day shutdown as suppliers cut jobs.
The pandemic is taking its toll on aerospace manufacturing, as Boeing Co announced it would halt production of most widebody jets and Airbus SE restarted only partial output after a four-day shutdown as suppliers cut jobs.
China's pork imports in the first two months of 2020 surged 158% from a year earlier to 560,000 tonnes, customs data showed on Tuesday, as the world's top consumer brought in large supplies ahead of the Lunar New Year holiday in January.
Reuters
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