Business & Finance News
Oil prices tumbled for a fifth day on Thursday to their lowest in more than a year, as further novel coronavirus cases outside China fanned fears that a pandemic could slow the global economy and erode demand for crude.
U.S.-based banks and brokers are in discussions with federal regulators about allowing staff to work from home and other business continuity arrangements amid the spread of the coronavirus, the head of a top financial trade group said on Thursday.
Amazon.com Inc has barred more than 1 million products from sale in recent weeks that had inaccurately claimed to cure or defend against the coronavirus, the company told Reuters on Thursday.
Facebook Inc will provide a way for people to track political sponsored content on Facebook and Instagram ahead of the U.S. presidential election, it said on Thursday.
Wall Street’s main indexes tumbled for the sixth straight session on Thursday with the S&P 500 on track for its fastest correction in history as the global spread of coronavirus intensified investor uncertainty about the economic impact.
As the coronavirus epidemic spreads in China and beyond, U.S. companies will see profits stagnate in 2020, according to a Goldman Sachs report.
Chicago Federal Reserve Bank President Charles Evans said on Thursday it was too soon to say if the U.S. growth forecast would be lowered due to the coronavirus epidemic, let alone if the U.S. central bank would need to cut rates. .
Wall Street’s main indexes tumbled for the sixth straight session on Thursday, reaching a territory that could mark a nosedive from record highs last week amid a global spread of coronavirus that intensified fears about growth and earnings.
Facebook Inc said on Thursday it would cancel its annual developer conference, F8 2020, amid rising concerns of the coronavirus outbreak.
Thyssenkrupp on Thursday said it agreed to sell its prized elevator division to a private equity consortium including Advent, Cinven and Germany’s RAG foundation for 17.2 billion euros ($18.7 billion).
Chicago Federal Reserve Bank President Charles Evans on Thursday suggested that “extraordinary accommodation” and a period of elevated inflation will be integral to the U.S. central bank’s approach to fighting the next severe economic downturn.
Chicago Federal Reserve Bank President Charles Evans said on Thursday it was too soon to say if the U.S. growth forecast would be lowered due to the coronavirus outbreak, and that the Fed was first looking for any declines in economic activity.
France’s Vivendi has filed an appeal against a decision by a Milan judge to clear the way for a planned reorganization at Mediaset , Italy’s biggest commercial broadcaster said on Thursday.
Stocks across the globe and oil prices continued to tumble on Thursday and U.S. Treasury yields hit record lows as traders fretted over the economic impact of the spreading coronavirus.
Johnson & Johnson and other drug companies facing thousands of lawsuits over their role in the opioid epidemic have warned that settlement talks will be “severely” jeopardized if plaintiffs’ lawyers are allowed to assess a fee payment worth billions of dollars.
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