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Cathay Pacific flags ‘significant’ drop in first-half profit, capacity cuts due to coronavirus

(Reuters) – Cathay Pacific Airways <0293.HK> is expecting a significant drop in its first-half results and has also cut capacity due to the coronavirus outbreak, it said on Monday. Severe travel restrictions as a result of a coronavirus outbreak in China, which has caused about 1,770 deaths across mainland China, have led to a steep […]

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UK households’ confidence in finances hits record high in February: IHS Markit

LONDON (Reuters) – A gauge of how Britons feel about their household finances hit its highest level on record this month, the latest sign of a confidence bounce since Prime Minister Boris Johnson’s decisive election win in December. The IHS Markit Household Finance Index jumped to 47.6 in February from 44.6 in January, the highest […]

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European shares hit record high; carmakers cheer China stimulus

By Ambar Warrick (Reuters) – European shares hit a record high on Monday, with automobile stocks leading gains amid fresh attempts by China to limit the economic impact of the coronavirus outbreak. Automobile stocks <.SXAP>, which are highly sensitive to Chinese demand and industrial output, surged 2%, led by French car parts group Faurecia <EPED.PA> […]

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Thai economic growth slips to five-year low, rate cuts likely

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s economy grew at its weakest pace in five years in 2019 as exports and public investments slowed, adding pressure on the central bank to cut rates to shield Southeast Asia’s second-largest economy from the coronavirus epidemic. The trade-dependent economy has been buffeted by the Sino-U.S. […]

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William Hill names DS Smith’s Adrian Marsh as CFO

(Reuters) – British bookmaker William Hill <WMH.L> on Monday named cardboard maker DS Smith’s <SMDS.L> Chief Financial Officer Adrian Marsh as its finance head. Marsh will join William Hill later this year, taking over from Ruth Prior whose departure was announced last month. William Hill has aggressively expanded into the United States, and recently announced […]

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U.S. firms in China report staff shortages, say coronavirus hitting global operations: AmCham

By Emily Chow SHANGHAI (Reuters) – Nearly half of the U.S. companies in China say their global operations are already seeing an impact from business shutdowns due to the coronavirus epidemic, according to a poll by Shanghai’s American Chamber of Commerce (AmCham). Some 78% of the respondents also said they do not have sufficient staff […]