Business News
Asian shares inch higher, euro teeters on weak economic outlook2/19/2020 1:25:53 AM Asian shares and U.S. stock futures edged cautiously higher on Wednesday as investors tried to shake off worries about the coronavirus epidemic following a slight decline in the number of new cases.
Samsung poised to benefit from China virus woes afflicting Apple, other rivals2/19/2020 1:12:04 AM Samsung Electronics stands to be a major beneficiary of the China production problems announced by rival Apple Inc on Monday, reaping the rewards of a decade-long bet on low-cost smartphone manufacturing in Vietnam.
Boeing finds debris in 737 MAX jetliners: company memo2/18/2020 11:52:48 PM Boeing Co found debris that could pose potential safety risks in the fuel tanks of several 737 MAX aircraft that are in storage and waiting to be delivered to airlines, according to an internal memo seen by Reuters on Tuesday.
Trump blasts proposed U.S. restrictions on sale of jet parts to China2/18/2020 11:42:43 PM President Donald Trump objected on Tuesday to U.S. proposals that would prevent companies from supplying jet engines and other components to China's aviation industry and suggested he had instructed his administration not to implement them.
Stocks slide on Apple's virus warning, euro near three-year low2/18/2020 11:26:00 PM Gold rose and global equity markets slid on Tuesday after Apple Inc said it was unlikely to meet its sales guidance because of the coronavirus outbreak in China, a warning highlighting the epidemic's threat to global growth and corporate profits.
U.S. judge rejects Huawei challenge to federal law restricting its business2/18/2020 11:15:37 PM A federal judge in Texas on Tuesday rejected Chinese telecommunications equipment maker Huawei Technologies Co Ltd's constitutional challenge to a U.S. law that restricted its ability to do business with federal agencies and their contractors.
Huawei accuses U.S. of overlooking HSBC misconduct to go after Chinese firm2/18/2020 10:39:24 PM U.S. prosecutors overlooked apparent violations of U.S. sanctions against Iran by HSBC Holdings in exchange for the British bank's cooperation with a government investigation of Huawei Technologies, lawyers for the Chinese telecoms giant said.
HSBC to slash investment bank, 35,000 jobs in strategy overhaul2/18/2020 10:35:50 PM HSBC Holdings PLC said on Tuesday it would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years.
HSBC eyes $600 million in losses if Coronavirus persists2/18/2020 10:35:50 PM HSBC could be forced to take $600 million in additional provisions against loan losses if the Coronavirus outbreak persists into the second half of this year, Chief Financial Officer Ewan Stevenson said on Tuesday.
Boy Scouts of America files bankruptcy in wake of abuse lawsuits2/18/2020 10:34:11 PM The Boy Scouts of America said on Tuesday it had filed for Chapter 11 bankruptcy amid a flood of lawsuits over allegations of child sexual abuse stretching back decades.
Coronavirus threatens Apple supply chain, sales; shares drop2/18/2020 10:27:34 PM Shares of Apple Inc fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower, after the iPhone maker warned of lower sales in the current quarter acknowledging that the coronavirus outbreak was pressuring its supply chain.
Dow, S&P 500 decline after Apple's sales warning2/18/2020 9:51:38 PM The Dow and S&P 500 fell on Tuesday after a sales warning from Apple left investors assessing the impact of the coronavirus outbreak on U.S. companies.
Alstom, Bombardier shares fall after $6.7 billion rail deal2/18/2020 9:46:04 PM Shares of Alstom SA and Montreal-based Bombardier Inc fell on Tuesday after the French firm agreed to buy its Canadian rival's rail division for up to 6.2 billion euros ($6.7 billion), a deal likely to draw scrutiny from competition regulators and unions concerned about job cuts.
Oil near flat; virus impact offsets Libya supply disruptions2/18/2020 9:30:36 PM Oil prices were near flat on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China, but prices drew support from a reduction in supply from Libya.
Consumer groups, unions oppose fix for planned merger of AbbVie and Allergan2/18/2020 7:56:00 PM A group of unions and consumer groups wrote to U.S. antitrust enforcers on Tuesday to oppose a proposed remedy that could lead to U.S. approval for AbbVie Inc's planned purchase of Allergan Plc .
Virgin Galactic's stock soars, fueled by retail investors2/18/2020 6:55:50 PM Virgin Galactic Holdings Inc shares surged 24% on Tuesday, extending a rally since early December to over 400% and evoking a warning from an analyst who likes the space tourism company but warns it has become overbought.
Coronavirus dents bookings for Holiday Inn owner IHG2/18/2020 5:34:03 PM InterContinental Hotels (IHG) warned on Tuesday that fewer travellers are booking its rooms in China because of the coronavirus outbreak.
Walmart sees slower online sales growth after tepid holiday quarter2/18/2020 5:07:53 PM Walmart Inc on Tuesday forecast online sales growth to slow this year after posting lower-than-expected holiday quarter results, revealing the pressure traditional retailers are facing to keep pace with consumers who are increasingly shopping online.
U.S. mulls cutting Huawei off from global chip suppliers, with TSMC in crosshairs2/18/2020 5:00:32 PM The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies [HWT.UL] from companies such as Taiwan's TSMC , the world's largest contract chipmaker, two sources familiar with the matter said.
Exclusive: Vodafone, Telecom Italia offer rivals access to some sites to ease EU concerns – document2/18/2020 4:57:45 PM Vodafone and Telecom Italia (TIM) have offered to give rivals access to some of their infrastructure for up to nine years to allay EU antitrust concerns over plans to merge their tower units, according to a document seen by Reuters.