European shares dropped sharply in early trading this morning as growing concerns over the potential economic damage from a fast-spreading coronavirus sapped demand for riskier assets. The death toll from the outbreak in China has risen to 81 and the virus has spread to more than 10 countries including France, Japan and the US. In initial trades, London's FTSE 100 index of major blue-chip companies sank 1.6%, while the Frankfurt DAX 30 index also lost 1.6% and the Paris CAC 40 dived 1.7%. Shares in Dublin also opened 1% lower this morning. | Swiss food giant Nestle has bulked up its medical nutrition business by buying Allergan's Zenpep, a product for people whose pancreases do not provide enough enzymes to properly digest fats, proteins and sugars. Financial terms of the transaction were not disclosed. Zenpep had sales of $237m in 2018. Allergan's sale of Zenpep, for people with Exocrine Pancreatic Insufficiency (EPI), comes in conjunction with the ongoing regulatory approval process of AbbVie's $63 billion takeover of the Irish-domiciled drugmaker, AbbVie said in a separate statement. | British subprime lender Amigo has launched a strategic review, as founder James Benamor wants to find a new owner for his 60.6% stake, the company said today. RBC Capital Markets was appointed as a financial adviser to lead the review, which may result in the sale of all or parts of the 15-year old business. No approaches have been made so far, the company said. | Boeing successfully staged the first flight of the world's largest twin-engined jetliner over the weekend in a respite from the crisis over its smallest model, the grounded 737 MAX. The 777X is a larger version of the 777 mini-jumbo. The decision to take advantage of a gap in clouds to start the months of testing needed before the jet can carry passengers came after two attempts had to be postponed due to high winds. | Peer-to-peer lending platform Linked Finance has launched a five-year unsecured business loan for Irish SMEs, with rates starting at 7.95%. Linked Finance said the new loan of up to €300,000 will meet the needs of companies with more complex funding requirements. Noting the very strong market demand for a longer-term loan product, Linked Finance added that lenders on the platform will benefit from a larger volume of companies to lend to. | Information released to RTÉ Investigates under Freedom of Information indicates that development land, with the potential to provide an estimated 18,500 to 20,700 homes on 359 vacant sites across the country, is simply lying idle. In the Dublin City Council area there are an estimated 4,714 housing units that remain unbuilt on sites with development potential.   |||