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Group warns system is throttling town centres as retailers struggle against online rivals

The Hong Kong Monetary Authority (HKMA) lowered its base rate charged through the overnight discount window by 50 basis points to 1.5% on Wednesday, hours after the U.S. Federal Reserve delivered a rate cut of the same margin.

Wall Street stepped up preparations to deal with the impact of the coronavirus on Tuesday, testing backup plans and asking employees to work from home, as a New Yorker tested positive for the virus, bringing the prospect of the spread of the infection closer to home.

The World Bank on Tuesday announced an initial $12 billion in immediate funds to assist countries grappling with the health and economic impacts of the coronavirus virus outbreak that has spread quickly from China to some 80 countries.

Berkshire Hathaway Inc, the conglomerate run Warren Buffett, said it will hold its annual shareholder meeting on May 2 despite the coronavirus outbreak, but may curtail some of the surrounding events.

U.S. health insurer Centene Corp lowered the outlook for adjusted annual earnings on Tuesday, sending its shares down about 3% after the bell.

The International Monetary Fund and the World Bank, citing growing concerns about the fast-spreading coronavirus, on Tuesday said they will adopt a "virtual format" for their Spring Meetings instead of convening in person in Washington.

Brazil's central bank said on Tuesday it is monitoring the impact on domestic economic and financial conditions resulting from the coronavirus outbreak and the negative effect it is having on the global economy.

Investment group Exor said on Tuesday it has entered a memorandum of understanding (MoU) to sell its 100% stake in Bermuda-based reinsurer PartnerRe to France's Covea for $9 billion in cash.

Australian shares were set to fall at open on Wednesday as investors feared that interest rate cuts would not be enough to combat the economic impact of the coronavirus outbreak. The U.S. Federal Reserve on Tuesday announced an emergency half-percentage point interest rate cut, becoming...