Neuberger Berman on Wednesday became the first global asset
managers to submit applications to set up mutual fund units in
China as Beijing pushes ahead with financial sector deregulation
despite the coronavirus pandemic.
UK housebuilder Taylor Wimpey
said on Wednesday it was cancelling a planned pay rise and bonus
payments for management this year, with directors also taking a
30% cut in pay for the duration of the coronavirus lockdown.
European stock index futures fell more
than 3% on Wednesday as dismal economic data from Asia
underlined the damage to the economy from the coronavirus
pandemic and fanned fears of a deep global recession.