Month: March 2020

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GE sticks to 2020 targets, says coronavirus to hit cashflow by up to $500 million

March 4, 2020 admin Comments Off on GE sticks to 2020 targets, says coronavirus to hit cashflow by up to $500 million

Chief Executive Officer Larry Culp, who is restructuring GE after a series of failures, in January forecast its first-quarter free cash flow at a negative $2 billion, largely due to the grounding of Boeing Co’s 737 MAX for which it makes engines. At that point the company said it would recover to generate between $2 billion to $4 billion in positive cashflow this year, and an adjusted profit of 50 cents to 60 cents per share. Analysts have estimated this year’s cashflow at a positive $2.77 billion. …read more […]

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Fed’s economic survey set to offer more clues on coronavirus impact

March 4, 2020 admin Comments Off on Fed’s economic survey set to offer more clues on coronavirus impact

A report by the Federal Reserve released on Wednesday will provide the first snapshot from the central bank’s business contacts on how deeply the coronavirus is impacting their supply chains and economic outlook and may provide some insight into the urgency that caused policymakers to cut interest rates.

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Factbox: From shadow banking to coronavirus, U.S. regulators eye lurking risks

March 4, 2020 admin Comments Off on Factbox: From shadow banking to coronavirus, U.S. regulators eye lurking risks

U.S. regulators will gather Wednesday at a scheduled meeting of the Financial Stability Oversight Council (FSOC) to discuss risks to the United States and beyond. With fears around coronavirus driving market turmoil not seen since the 2007-2009 financial crisis, here are some of the top risks in their sights.

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Johnson & Johnson ordered to pay $1.7 million to three Australian women in pelvic mesh class action

March 4, 2020 admin Comments Off on Johnson & Johnson ordered to pay $1.7 million to three Australian women in pelvic mesh class action

An Australian court on Tuesday ordered Johnson & Johnson to pay three women a total of A$2.6 million ($1.7 million) plus legal costs as compensation for misleading patients and surgeons about the risks of its pelvic mesh implants.

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Bayer's top seed faces U.S. soybean challenge from Corteva

March 4, 2020 admin Comments Off on Bayer's top seed faces U.S. soybean challenge from Corteva

CHICAGO/WINNIPEG, Manitoba (Reuters) – Bayer AG’s takeover of Monsanto has been beset by problems, and now a decades-long dominance of the $4 billion U.S. soybean seed market is under threat from rival Corteva Inc. Bayer told Reuters it expects plantings of its genetically modified Xtend soybean seeds to flatline this year for the first time, after three years of strong growth since their launch with an accompanying weed-killer. Meanwhile Corteva , formed last year from the agricultural units of Dow Chemical and DuPont, expects its Enlist E3 seed to make up 20% of the U.S. crop in …read more […]

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Huawei to build French factory regardless of 5G decision, executive says

March 4, 2020 admin Comments Off on Huawei to build French factory regardless of 5G decision, executive says

Huawei will build a factory in France regardless of the government’s decision on whether to use its equipment in a new 5G network, an executive at the Chinese telecoms giant said. The world’s biggest telecom equipment maker said last week that it planned to build a manufacturing plant in France to ease worldwide concerns stoked by U.S. charges that Beijing could use Huawei’s equipment for spying. Europe has become a major battleground in this and France’s cybersecurity agency is screening 5G equipment, including from Huawei, for deployment in its new network. …read more […]