Markets underprice coronavirus risk: UBS chairman on Bloomberg TV

VIENNA (Reuters) – Markets are underpricing the risk that the coronavirus outbreak poses to the global economy, and central banks need to help business survive the impact of the virus, the chairman of Swiss lender UBS (UBSG.S), Axel Weber, said.…

Armani to hold runway show in empty theater due to new virus

MILAN — In a last-minute change, Giorgio Armani is holding his Milan Fashion Week runway show behind closed doors Sunday due to concerns raised by the coronavirus, and instead stream the event from inside the empty showroom. The fashion house…

Hainan construction industry restarts operations

Construction of 362 projects have been resumed in South China’s Hainan province following a prolonged shutdown for the Chinese Spring Festival holiday due to the COVID-19 outbreak, according to officials with the provincial government. Another 1,575 projects are ready to…

Buffett defends Berkshire stock push, reassures on future as profit smashes record

NEW YORK (Reuters) – Warren Buffett on Saturday forcefully defended Berkshire Hathaway Inc’s (BRKa.N) decision to invest heavily in stocks of companies such as Apple Inc (AAPL.O) as he labors through a four-year drought since his last major acquisition of…

Virus will not change China’s global trade position, official says

The novel coronavirus epidemic will not alter the fundamentals of China’s foreign trade, foreign investment and core position within global industrial chain in the long term, commerce officials said. Even though China’s foreign trade, foreign investment and consumption condition have…

Buffett calls for more accountability for corporate directors

(Reuters) – Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. In…

A 22-year-old Harvard grad launched his own amateur esports company for adult gamers

New York (CNN Business)Teens won millions of dollars in video game competitions in 2019, and they’re set to do it again this year. Last year, the oldest finalist in the most competitive rounds of the “Fortnite” World Cup was only…

Transportation sector sees resumption of activity

Original source: Transportation enterprises and projects have resumed production and operation in an orderly manner, an official from the Ministry of Transport said on Saturday. Wu Chungeng, director of the ministry’s policy research office, said the national highway network has…

Express delivery service back in order

The express industry is recovering steadily, and communities and relevant organizations should provide conveniences for couriers to collect and deliver packages, an official said on Saturday. The Ministry of Transport has given priority to the resumption of the postal and…

Honda’s Philippine unit to close auto production plant

(Reuters) – The Philippine unit of Honda Motor Co Ltd (7267.T) said on Saturday its production facility will shut down next month, as the Japanese automaker struggles to shore up global automobile operations. Japan’s third-largest automaker has seen its profitability…