March, 2020

• 3 March

  After Mastercard, Visa is cutting revenue outlook

  

  Bloomberg Visa Inc became the latest payments firm to face a hit from the spread of coronavirus. The company warned that cardholders’ spending overseas has slowed sharply, especially for travel related purchases, and that this quarter’s revenue growth will be about 2.5 to 3.5 percentage points lower than the outlook it shared on January 30. Visa said it won’t give ...

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• 3 March

  US banks expand travel curbs in response to coronavirus

  

  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 ...

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• 3 March

  India’s RBI says it’s ready to act to calm markets

  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 ...

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• 3 March

  JD leaps to 20-month high after sales outlook quells virus fears

  

  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 ...

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• 3 March

  Frankfurt ops resume after drone sightings

  

  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 ...

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• 3 March

  Berkshire boosts Delta Air stake by $45 million

  

  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, ...

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• 3 March

  Korean Air parent surges ahead of family feud showdown

  

  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 ...

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• 3 March

  Just $13 to fly across China as airlines struggle to fill seats

  

  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 ...

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• 3 March

  Vietnam Air to halt S Korea flights from March 5

  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 ...

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• 2 March

  UAE facilitates WHO’s medical supplies delivery to Iran

  

  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 ...

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