Business & Finance News
General Electric Co said on Wednesday it would take a hit of $300 million to $500 million to its first-quarter cash flow from the coronavirus outbreak, while reaffirming its cash and profit targets for the full year.
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.
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.
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.
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.
Two former top staffers at the U.S. Federal Reserve have joined in urging the Fed to say explicitly what it will do if interest rates hit zero again, and warned that even with the best laid plan the central bank “might simply run out of…firepower,” if a downturn is bad enough.
Brent oil prices rose on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting the slump in demand caused by the coronavirus outbreak.
Brent oil prices steadied on Wednesday, paring early gains as markets assessed whether deeper output cuts by major producers would be enough to offset the impact of the coronavirus outbreak.
Bonds held their gains on Wednesday as investors digested the U.S. Federal Reserve’s dramatic move to cut interest rates in an effort to contain economic damage from the coronavirus.
Facebook Inc will provide free advertisements to the World Health Organization (WHO) as it seeks to ensure users are not misinformed about the virus, its risks and how to react to it, Chief Executive Officer Mark Zuckerberg said on Tuesday.
Canadian billionaire Lawrence Stroll, who is investing in carmaker Aston Martin , sees the opportunity to share Formula One technology with the firm’s range of road cars, he said on Wednesday.
Model fire stations and garbage trucks helped Lego defy a shrinking toy market with a rise in sales last year, as the plastic brick maker outpaced rivals with the latest versions of its classic kits, as well as new stores and a revamped website.
Oil prices rose on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.
The rapid spread of coronavirus cases worldwide is complicating a standard strategy used by airlines when disease, disaster or conflict hit travel destinations: lower fares and redirect flights to trouble-free areas.
In an effort to win over passengers hesitant about traveling in the midst of a spreading coronavirus outbreak, some airlines are offering free rebooking options.
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