Business & Finance News
Novartis unit Sandoz has agreed to pay $195 million to reach a deferred prosecution agreement aimed at resolving antitrust charges, the Justice Department said on Monday.
The Dow Jones Industrial Average surged over 5% on Monday while the S&P 500 and Nasdaq each jumped more than 4% in a major rebound following last week’s steep sell-off sparked by fears about the coronavirus.
Waymo, the self-driving unit of Alphabet Inc , said on Monday it has raised $2.25 billion in its first external investment round.
The organizers of the Grammy Awards said on Monday they fired the chief executive they had placed on administrative leave in January.
Amtrak said Monday it had tapped Atlas Air’s chief executive to run the money-losing U.S. passenger railroad that has seen record traffic.
Amazon will on Thursday seek to overturn an EU order to repay about 250 million euros ($277 million) in back taxes to Luxembourg at Europe’s second-highest court, one of a series of high-profile cases marking the bloc’s crackdown on unfair tax deals.
Equity markets around the world rose on Monday as the prospect that central banks will cut interest rates to soften the economic blow of the coronavirus heartened investors and drove U.S. government debt yields to record lows.
Oil prices rose over 4% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
U.S. factory manufacturing activity slowed in February as new orders contracted, reflecting worries about supply chain disruptions related to the fast-spreading coronavirus outbreak, which has revived financial market fears of a recession.
Wall Street surged on Monday as investors hunted for bargains following reassurances by central banks that they stood ready to counter the economic impact from the coronavirus following last week’s steep sell-off.
Chevron Corp is offering buyouts to reduce its U.S. oil exploration and production workforce, three sources told Reuters, as the oil major moves to cut costs in the face of sharply lower oil and gas prices. The No. 2 U.S. oil producer decided to reduce staff after reviewing operations late last year as energy prices fell, the sources said. Chevron confirmed that it was offering buyouts to workers in its shale gas business in the eastern United States but did not c
Honda Motor Co Ltd will temporarily cut back production in Japan due to difficulty in sourcing parts from China amid the coronavirus outbreak, Nikkei Asian Review reported on Monday citing sources at auto parts suppliers and dealers.
Italy’s Banco BPM is rushing to set up new “disaster recovery rooms” after an area close to one of its existing crisis facilities emerged as the epicenter of the coronavirus outbreak, three sources familiar with the matter said.
U.S. stock indexes rose sharply on Monday, prompted by bargain hunting and on reassurances by central banks that they stood ready to counter any economic impact from the coronavirus.
UBS Group Chief Executive Sergio Ermotti is poised to become chairman of Swiss Re next year after leaving the helm of Switzerland’s biggest bank, three people familiar with the matter told Reuters.
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