The owner of Penneys and Primark has warned of a risk of supply shortages on some clothing lines later this year if delays in factory production in China are prolonged because of the coronavirus.
Associated British Foods sources more than 40% of Primark's product from China. The group said it was working closely with its Chinese suppliers to assess the impact of the virus on their factories and supply chains and their ability to fulfil its current orders.
Ian Guider, markets editor of The Business Post, brought us this story and more of the day's business news, including:
- Bank of Ireland to launch new digital apps in March as annual profits fall
- AIB is the latest bank to cut interest rates
- Stock markets plunge over coronavirus spreading fears - airlines shares down heavily
- Mastercard to create 1,500 Irish jobs over next five years
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