Markets

HONG KONG: The coronavirus could wipe more than US$200 billion off Asia Pacific economies this year, S&P Global ratings warned Friday (Mar 6), sending growth to its lowest level in more than a decade, as governments struggle to combat the disease. In a worst-case scenario, China could see growth...

U.S. job growth likely slowed in February, but the pace probably remained consistent with a healthy labor market despite the coronavirus outbreak, which stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.

HSBC Holdings PLC has sent home more than 100 staff in London after a worker tested positive for the coronavirus, the first known case at a major company in Europe's main financial hub.

FWD Group, the insurance arm of Hong Kong's investment conglomerate Pacific Century Group, has appointed Khor Kee Eng as the chief executive officer (CEO) of FWD Singapore.

FITCH Ratings on Thursday said Mitsubishi UFJ Financial Group's (MUFG) <a href="https://www.businesstimes.com.sg/garage/grab-raises%C2%A0us850m-to-expan...$706 million investment</a> in ride-sharing firm Grab shows growing interest by Japanese banks to expand in South-east Asia and upgrade their technology capabilities.

Def Jam, the label behind the world’s biggest hip-hop stars, is banking on Southeast Asian rappers such as Yung Raja, DaBoyWay, A Nayaka and more.

JPMorgan Chase & Co Chief Executive Jamie Dimon had emergency heart surgery on Thursday morning and is now recovering, senior bank executives said in an internal memo viewed by Reuters.

Asian shares fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.

President Donald Trump said on Thursday the U.S. economy might take a hit from the coronavirus outbreak but he predicted the challenge would eventually pass and defended his handling of the crisis.

The coronavirus likely halved China's economic growth in the current quarter compared with the previous three months, more severe than thought just three weeks ago and triggering expectations for earlier interest rate cuts, a Reuters poll found.