(Bloomberg) -- Stocks in Asia fell on heavy volumes Wednesday after another sell-off on Wall Street, while U.S. equity futures and Treasuries steadied. European stock futures pointed lower.The won fell toward its weakest since 2016 after South Korea reported a further escalation in coronavirus cases. Korean and Australian stocks fell most, with shares in Shanghai fluctuating through the session. The S&P 500 Index fell 3% overnight, seeing its worst two-day slide since 2015. Ten-year Treasury yields held near Tuesday’s record low. The offshore yuan was little changed, and the yen gave up some recent gains.South Korea, Asia’s fourth-largest economy, said its national total for coronavirus cases is now more than 1,000, up from just 51 a week ago. American health officials Tuesday warned that they expect the epidemic to spread in the U.S., news that extended the sell-off in stocks.The virus and the market reaction has also entered U.S. politics. President...
(Bloomberg) -- Tesla Inc. and Panasonic Corp. plan to end their partnership in producing solar cells for rooftops at a facility in Buffalo, New York, according to people familiar with the matter.Panasonic is withdrawing from the venture as part of the company’s broader recent move to curtail money-losing businesses, one of the people said, asking not to be named because the decision isn’t public. The move comes after the two companies have struggled to ramp up production at the facility, known as Gigafactory New York, said the people. They will continue to produce car batteries together at the original Gigafactory in Nevada.Tesla and the Japanese company have had a tumultuous relationship since they unveiled an agreement in 2014 for Panasonic to make the batteries that power the American company’s electric vehicles. Last year, Tesla’s billionaire Chief Executive Officer Elon Musk directed a public attack on Twitter against the Osaka-based firm.Just this...
(Bloomberg) -- Stocks in Asia fell on heavy volumes Wednesday after another epic rout on Wall Street, while U.S. equity futures rose and the yen dipped, taking back some of their strong recent moves.The won fell toward its weakest since 2016 after South Korea reported a further escalation in coronavirus cases. Stock benchmarks came off their session lows in Seoul, Hong Kong and Tokyo, but European futures declined. The Shanghai stock index was little changed. The S&P 500 Index fell 3% overnight, in its worst two-day slide since 2015. Ten-year Treasury yields held near Tuesday’s record low. The offshore yuan was flat, and the yen gave up some recent gains.South Korea, Asia’s fourth-largest economy, said its national total for coronavirus cases is now more than 1,000, up from just 51 a week ago. American health officials Tuesday warned that they expect the epidemic to spread in the U.S., news that extended...
On March 25, an advocacy group called The Committee for Better Banks will participate in a House Financial Services Committee hearing titled "Holding Wells Fargo Accountable: Examining the Impact of the Bank's Toxic Culture on Its Employees." Two bank workers plan to testify....
(Bloomberg) -- Stocks in Asia fell in heavy trading Wednesday after another epic rout on Wall Street, while U.S. futures rose and the yen dipped, taking back some of their strong recent moves.The won fell toward its weakest since 2016 after South Korea reported a further escalation in coronavirus cases. Stock benchmarks were down more than 1% in Seoul and Tokyo, though came off their lows of the session. Hong Kong and Shanghai saw smaller drops. The S&P 500 Index fell 3% overnight, in its worst two-day slide since 2015. Ten-year Treasury yields held near Tuesday’s record low. The offshore yuan was flat, and the yen gave up some recent gains.South Korea, Asia’s fourth-largest economy, said its national total for coronavirus cases is now more than 1,000, up from just 51 a week ago. American health officials on Tuesday warned that they expect the epidemic to spread in the U.S., news...
