Month: January 2020

Italy’s competition watchdog has launched proceedings against Facebook for non-compliance with a previous request it had made regarding improper commercial practices in the group’s treatment of user data, the agency said on Friday.

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Oil prices climbed on Friday, following a drawdown in U.S. crude stocks, but were set to fall heavily for the week amid worries that a new coronavirus in China that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects.

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Food group Nestle has teamed up with Canadian plant-based food ingredient makers Burcon and Merit to speed up innovation in the fast-growing business segment, it said on Friday.

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Asian shares steadied on Friday in holiday-thinned trade for the Lunar New Year, despite fears that a new coronavirus from China could spread rapidly as millions of people travel over the week-long break.

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Swedish telecoms equipment group Ericsson reported a smaller than expected rise in fourth-quarter core earnings on Friday and said the quarter, seasonally its best, had nevertheless been hit by a slowdown in its previously surging U.S. business and higher costs.

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Shares in Bayer were up 6.3% in premarket trade at broker Lang & Schwarz on Friday, driven by a report on a possible out of court settlement of a U.S. jury trial over allegations that its weed killer Roundup causes cancer.

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Swedish telecoms equipment group Ericsson reported a sharp rise in fourth-quarter core earnings on Friday, but said the quarter, seasonally its best, had nevertheless been hit by a slowdown in its previously surging U.S. business.

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Bayer AG is set to face a fourth U.S. jury trial over allegations that its popular weed killer Roundup causes cancer, with four cancer patients in the hometown of its agricultural subsidiary Monsanto scheduled to make their case beginning on Friday.

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Oil prices edged up on Friday, helped by a decline in U.S. crude stockpiles, but were on track for to fall up to 5% for the week on worries that the China coronavirus that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects.

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Asian shares held their ground on Friday as trade slowed for the Lunar New Year, despite investors fears that a new coronavirus in China could spread faster as millions of people would be traveling over the week-long holiday.

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The euro hovered near a seven-week low against the dollar on Friday after the European Central Bank was seen as more cautious than expected, while anxiety over China’s coronavirus outbreak propped up the safe-haven yen.

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Oil prices were steady on Friday, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken as the spread of a respiratory virus from China that has killed 25 so far dents travel and darkens the economic outlook.

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The first phase of battle over whether Huawei Chief Financial Officer Meng Wanzhou should be extradited to the United States wrapped up on Thursday after four days, with lawyers for Meng challenging prosecution claims that her alleged actions are a crime in Canada.

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