Bloomberg The owner of the Primark budget fashion chain warned that any prolonged manufacturing delays at its factories in China due to the coronavirus could cause supply shortages on certain lines later this year. Associated British Foods Plc has built up inventories and is “well stocked for cover for several months,” according to a statement, which said the virus could …

DUBAI / WAM The United Arab Emirates and the Kingdom of Saudi Arabia strengthen their economic partnership to enhance the trade, diversify and create opportunities for the businesses and people in both the countries. Etihad Credit Insurance (ECI), the UAE Federal export credit company has partnered with the Saudi Fund for Development (SFD), for financing and providing credit insurance to …

Bloomberg The coronavirus outbreak presents another reason for nations with fiscal surpluses to boost their spending and support the global economy, the head of the Organisation for Economic Cooperation and Development (OECD) said. “It’s a call to arms,” Angel Gurria, secretary general of the OECD, said in an interview with Bloomberg TV in Saudi Arabia. “Look at what’s going on. …

Bloomberg Sales of previously owned US homes remained robust in January as low borrowing costs and higher wages continue to make purchasing attainable. Contract closings eased 1.3% from the prior month to a 5.46 million annual rate, according to National Association of Realtors data that slightly exceeded the median estimate in Bloomberg’s survey. The median sales price climbed 6.8% from …

Bloomberg British Columbia is delaying a decision on a controversial stretch of the Coastal GasLink pipeline and asking TC Energy Corp to take more time to engage with indigenous groups after weeks of debilitating protest blockades along Canada’s rail network. In an emailed letter to TC Energy, the province’s Environmental Assessment Office (EAO) said it needs additional information to make …

Bloomberg China’s main solar industry group sees the nation’s new installations this year between 35 and 45 gigawatts and said almost a quarter of domestic solar companies are shut by the virus outbreak. Even the low end of the installation forecast, posted on the official WeChat account of the China Photovoltaic Industry Association (CPIA), would be a slight rebound from …

Bloomberg Chevron Corp’s future growth prospects may be dimming after the oil explorer pumped more crude than it discovered or bought last year, eroding its portfolio of untapped fields. New finds, acquisitions and expansions of existing oil and natural gas holdings were equivalent to just 44% of the company’s 2019 production, according to a regulatory filing. That was Chevron’s poorest …

Bloomberg Looking for the smart money in equities these days? Try taking a peek at your next-door neighbour’s portfolio. A basket of the 50 most-popular stocks among individual investors has rallied 13% this year, compared with an 8.7% gain for a gauge of hedge fund favourites, data compiled by Goldman Sachs Group Inc show. While both exceed the benchmark S&P …

Bloomberg JPMorgan Chase & Co is broadening its perspective on blockchain technology to show how digital money will change the financial world. The emergence of linked databases like the blockchains that enable Bitcoin and Ether to exist as well as changing consumer preferences has turned the modernisation of payments into a global theme, the New York-based bank said in a …

Bloomberg Brigita, a director at one of China’s largest car dealers, is running out of options. Her firm’s 100 outlets have been closed for about a month because of the coronavirus, cash reserves are dwindling and banks are reluctant to extend deadlines on billions of yuan in debt coming due over the next few months. There are also other creditors …