Business & Finance News
China’s Huawei Technologies Co Ltd, the world’s largest telecommunications equipment maker, on Wednesday pleaded not guilty in a New York federal court to new charges in a 2018 case against the company.
U.S. services sector activity jumped to a one-year high in February, suggesting strength in the economy before a recent escalation of recession fears ignited by the coronavirus epidemic that prompted an emergency interest rate cut from the Federal Reserve.
Wall Street surged on Wednesday as former Vice President Joe Biden’s strong showing in the “Super Tuesday” primary contests gave a boost to healthcare stocks and upbeat economic data helped sooth investors’ coronavirus anxieties.
Wolfgang Porsche and Hans-Michel Piech, members of the family which controls German carmaker Volkswagen , fully support the shift towards electric cars being driven by Chief Executive Herbert Diess, they told the Bild newspaper.
The global spread of the novel coronavirus will wipe out any hope of stronger growth in 2020, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday, adding a third of the Fund’s 189 member countries were now affected.
The Bank of England should wait until it has more clarity about the economic hit from the coronavirus outbreak before making any decision to cut interest rates, its next governor Andrew Bailey said on Wednesday.
Will the world’s big central banks leave U.S. Federal Reserve Chair Jerome Powell hanging? They are certainly going to try.
Campbell Soup Co on Wednesday raised its fiscal full-year earnings forecast and posted better-than-expected quarterly profit and sales due to strong demand for soups and snacks, and its shares rose 5% in early trade.
Campbell Soup said it is ordering more ingredients to ensure it can keep enough soups, sauces and snacks on hand to meet growing demand from retailers as U.S. consumers hoard food in preparation for potential coronavirus quarantines.
Global banks and small investment firms in Europe are urging staff to work from home and curb travel as the financial industry braces for disruption from the rapidly spreading coronavirus outbreak.
General Motors Co Chief Executive Mary Barra said Wednesday the Detroit automaker will invest $20 billion by 2025 in electric and automated vehicles as it races to catch up with Elon Musk’s Tesla Inc as vehicles go electric.
General Motors Co Chief Executive Mary Barra said on Wednesday the automaker’s North American vehicle production should be secure from parts shortages caused by the coronavirus outbreak “quite far into this month.”
U.S. automaker General Motors Co on Wednesday launched Ultium, a battery with higher capacity and fast charging capabilities, to power its upcoming line of electric vehicles.
Andrew Bailey, set to become Bank of England governor just as Britain is facing an economic hit from coronavirus, said financial support would probably have to be rushed out for companies struggling with disruption caused by the outbreak.
The spreading coronavirus outbreak poses a double-barreled threat to U.S. workers who face not only the prospect of lost wages if they are forced to stay home during a quarantine but also a fragile safety net to fall back on during such a crisis.
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