Alibaba Group Holding Ltd. warned that the coronavirus responsible for killing more than 1,300 people in China is exerting a fundamental impact on the country's consumers and merchants, and will hurt its revenue growth in the current quarter.
SoftBank profits have been almost entirely wiped out, as the company continues to feel the pain from big losses in its massive tech fund.
The Chinese government has made saving jobs a major priority as the coronavirus outbreak disrupts businesses and sends shockwaves across the world's second biggest economy. Now some of the most prominent companies in China are taking in displaced workers to help cushion the blow.
More than 300 Chinese companies are seeking bank loans totalling at least 57.4 billion yuan ($8.2bn) to help soften the impact of the coronavirus outbreak in China, two banking sources told Reuters News Agency.
The administration of President Rodrigo Duterte has asked the Supreme Court to shut down the Philippines's largest television network, ABS-CBN, in a move described as a "sign of dictatorship".
Bayer AG has asked a California appeals court to overturn an $86m verdict that found it was responsible for a couple's cancer caused by its glyphosate-based weedkiller, Roundup.
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