Wall Street opened higher on Wednesday as a surge in shares of Apple, Boeing and General Electric after their results overshadowed concerns over the economic impact of a fast-spreading coronavirus.
Warren Buffett’s Berkshire Hathaway Inc said on Wednesday it is selling its newspaper operations to Lee Enterprises Inc , abandoning an industry the billionaire investor had long supported and defended even as its financial prospects deteriorated.
Boeing Co on Wednesday swung to its first annual loss since 1997 on mounting 737 MAX costs and indicated it would again cut production of its bigger 787 Dreamliner aircraft, currently its main source of cash.
The BBC said on Wednesday it will cut around 450 jobs from its news division as part of an 80 million pound savings drive and modernisation programme.
Wall Street was set to extend its recovery on Wednesday as a surge in shares of Apple and Boeing after their results overshadowed concerns over the economic impact of a fast-spreading coronavirus.
Large options trades some people have attributed to the mysterious investor known as “50 Cent” have become more profitable in recent days, as fears of the economic impact of the coronavirus injected volatility back into stock markets.
Boeing Co expects nearly $19 billion in costs related to the grounding of its 737 MAX jets, the U.S. planemaker said on Wednesday as it swung to its first annual loss since 1997 and indicated it would again cut production of its bigger 787 Dreamliner aircraft.
HSBC is considering exiting Turkey as part of broader cost-cutting measures under interim Chief Executive Noel Quinn, sources familiar with the matter said.
Over the past few years, McDonald’s has focused on improving dining experience by bringing technology to stores and shoring up delivery services, while also adding new burgers, beverages and breakfast foods to its menus to lure customers. Chief Executive Officer Chris Kempczinski, who took charge in November after the company’s previous chief was dismissed, said the annual global comparable sales growth of 5.9% was the chain’s highest in more than 10 years. As a part of its former CEO’s vision, the company began modernizing stores and even bought two smaller technology firms that focus on digitizing stores and …read more […]
AT&T has spent a combined $134 billion on DirecTV and Time Warner to transform itself into a media company, but is struggling to stem the loss of valuable satellite subscribers as audiences cut the cord and switch to streaming services. …read more […]
Mastercard Inc beat Wall Street estimates for quarterly profit on Wednesday as customers spent more on its cards during the U.S. holiday shopping season, boosting fees for the world’s second-largest payment processor.
General Electric Co quarterly profit and cash flow beat analysts’ estimates on Wednesday, boosted by its aviation unit, but the industrial conglomerate set a relatively modest profit target for 2020.
More big deal news from Beyond Meat. Yahoo Finance speaks with Beyond Meat founder Ethan Brown. …read more […]
Global markets showed more signs of stabilisation on Wednesday as investors looked past China’s coronavirus outbreak and moved back into shares from safe-haven assets such as the yen and German bonds.
EU countries can either restrict or exclude high-risk 5G vendors from core parts of their telecoms networks, according to new EU guidelines announced on Wednesday, a move targeting China’s Huawei Technologies but falling short of a U.S. call for a complete ban.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
