Bloomberg Several of the biggest US banks and the nation’s largest life insurer expanded their restrictions on employee travel, curbing all non-essential trips abroad as the coronavirus spreads across the globe. Citigroup Inc, Morgan Stanley and Wells Fargo & Co told employees not to travel internationally without approval from top company executives, expanding earlier restrictions that targeted countries where the …

Bloomberg The Reserve Bank of India (RBI) said it’s ready to act to counter financial market volatility amid the coronavirus outbreak, reiterating comments from global central bankers in recent days. While spillovers into domestic financial markets have been relatively contained, the RBI said in a statement on Tuesday it “stands ready to take appropriate actions to ensure orderly functioning of …

Bloomberg JD.com Inc surged to its highest since June 2018 after its forecast for at least 10% revenue growth this quarter suggested online retail in China was proving more resilient to the coronavirus epidemic than anticipated. Its shares rose more than 12.4% in New York, their biggest gain since August, after the company reported fourth-quarter revenue of 170.7 billion yuan …

Bloomberg Frankfurt airport is operating again after several drone sightings prompted the suspension of all flights for almost two hours. German air navigation service provider DFS suspended all incoming and outgoing flights between about 11.20 am and 1 pm on March 2 after a pilot spotted a drone, Fraport AG spokesman Dieter Hulick said by phone. Airlines cancelled 77 flights …

Bloomberg Warren Buffett’s Berkshire Hathaway Inc boosted its stake in Delta Air Lines Inc last week, taking advantage of bargain prices amid market declines. Berkshire acquired more than 976,000 shares for about $45.3 million, or an average price of $46.40, according to a filing. Delta stock dropped about 20% last week as markets plummeted on concern about the coronavirus. Buffett, …

Bloomberg Global airline and transportation shares are reeling from the disruptions caused by the coronavirus epidemic. Yet one stock has bucked that trend and is now the second-best performer on South Korea’s benchmark index this year. Hanjin Kal Corp, the holding company that owns shares in Korean Air Lines Co and Jin Air Co, has soared 102% in 2020. As …

Bloomberg Chinese airlines are offering tickets at what are known colloquially as cabbage prices as they start restoring seat capacity following drastic capacity cuts enforced by the coronavirus. A one-way direct trip from Shanghai to Chengdu on Juneyao Airlines Co this Saturday costs just 90 yuan ($13) plus 50 yuan in taxes. That’s a three-and-a-half hour journey, about the same …

Bloomberg Vietnam Airlines will temporarily suspend all of its South Korea flights beginning March 5 over concerns about the novel coronavirus outbreak, the national carrier said in a statement posted on its website. As of March 1, Vietnam Airlines flights from South Korea to Hanoi’s Noi Bai International Airport and Tan Son Nhat International Airport in Ho Chi Minh City …

DUBAI / WAM The United Arab Emirates has facilitated a mission by the World Health Organisation (WHO) to deliver medical supplies and equipment to Iran in a bid to help contain the new coronavirus (Covid19), in the neighbouring country. The UAE Air Force deployed an aircraft that carried 7.5 tonnes of cargo from Dubai to Iran on Monday afternoon. Dubai’s …

Bloomberg Global central banks promised to act as needed to stabilise markets rattled by the coronavirus as the Organisation for Economic Co-operation and Development (OECD) warned the world economy faces its “greatest danger” since the financial crisis more than a decade ago. In an emergency statement, Governor Haruhiko Kuroda said the Bank of Japan will “strive to provide ample liquidity …