Business News
CIBC planning layoffs to cut costs
Canadian Imperial Bank of Commerce will lay off employees in the months ahead to cut costs, a memo obtained by Reuters showed.
Year: 2020
Business News
UBS Europe probed in Italy in asset manager fraud investigation: sources
Italian prosecutors have investigated UBS Europe for possible money laundering and obstructing the work of regulators as part of a fraud inquiry into small asset manager Sofia SGR, two sources with direct knowledge of the matter said.
Business News
Oil falls to new three-month lows as virus fears grow, OPEC mulls meeting
Oil prices fell more than 2% on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting.
Business News
Global stocks, oil tumble on fears virus to hurt China’s economy
Global equity markets tumbled on Thursday as the death toll from China’s coronavirus outbreak hit 170, pummeling oil prices and inverting a closely watched bond as investors worried about the world’s second-largest economy.
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WHO declares public health emergency for coronavirus
RSM LLP U.S. Chief Economist Joe Brusuelas joins Yahoo Finance’s Seana Smith to discuss the World Health Organization’s call for a public health emergency for the coronavirus. …read more […]
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Amazon to announce Q4 earnings with focus on one-day shipping and AWS
Amazon (AMZN) is set to announce its Q4 2019 earnings on Thursday, with much of the focus on how one-day Prime shipping has affected the online retailer’s profits. …read more […]
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Coronavirus update: US records first human-to-human transmission as WHO declares global emergency
World Health Organization meets amid growing travel bans over coronavirus. …read more […]
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Mortgage Rates Drop to a Record January Low Amid Coronavirus Scare
Rates are the lowest ever for this time of year, according to a popular survey. …read more […]
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The coronavirus outbreak has trapped 7,000 people on a cruise
A cruise in the port of Civitavecchia, Italy has been locked down and quarantined. The 7,000 passengers and crew members on board are not allowed off the ship yet due to a possible coronavirus case on board. …read more […]
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Why Walgreens Boots Alliance Has Upside
The company’s growth strategy could catalyze its financial performance Continue reading… …read more […]
Business News
Zuckerberg pledges Facebook users privacy upgrades after $550 million facial recognition settlement
Facebook Inc has reached a $550 million settlement of claims it collected and stored millions of users’ biometric data without their consent, as Chief Executive Mark Zuckerberg pledged better protections for users to address privacy concerns that have dogged the social media company.
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The Inverting Yield Curve Is About More Than Recession This Time
(Bloomberg) — A key slice of the U.S. yield curve inverted on Thursday for the first time since October, reviving memories of growth fears that plagued investors last year and signaling doubts that the Federal Reserve will succeed in reviving inflation.The gap between the yield on three-month and 10-year Treasuries at one point slipped to as low as minus 2 basis points on Thursday. The spread — seen by some as a warning signal because it has inverted before each of the past seven U.S. recessions — last reached those levels as economic conditions deteriorated at the height of the …read more […]
Business News
Oil falls 3% to new three-month lows as China virus cases surpass SARS total
Oil prices fell 3% on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting.
Business News
Paris shops feel the pinch as virus keeps Chinese tourists away
For some shopkeepers in Paris, home to prestigious stores where Chinese tourists love to splurge, an abrupt drop-off in visitors as China tries to contain a fast-spreading coronavirus health crisis is hitting hard.
Business News
Wall Street slides on China virus concerns, Facebook earnings
U.S. stocks dropped on Thursday as the coronavirus epidemic raised fears of a further hit to China’s economy, with weak earnings from Facebook and others adding to the gloom.