Business & Finance News
Finnish telecom network equipment maker Nokia Oyj is exploring strategic options and is working with advisers to consider potential asset sales and mergers, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Oil prices fell 3% on Wednesday after hundreds of new coronavirus cases reported in Europe and the Middle East stoked fears that energy demand would decline, and on concerns that the virus would become a pandemic in the United States.
The coronavirus outbreak has yet to spread meaningfully to U.S. shores, but fears of it alone have already eviscerated some $2 trillion of American stock market value, setting off a market rout that could stymie consumer spending – even before other economic effects of the disease are felt.
NMC Health fired Chief Executive Prasanth Manghat and granted its finance chief extended sick leave, the healthcare company said on Wednesday after the firm unveiled details from its ongoing investigation into its finances.
Stocks and oil prices resumed their sharp decline on Wednesday after a report said over 80 people were being monitored for the novel coronavirus in New York State’s Long Island.
U.S. stocks turned lower in afternoon trading on Wednesday in a fresh wave of selling sparked by fears of the coronavirus spreading in the United States.
The top shareholder of carmaker Aston Martin is on a mission to turn investments from theme parks to high-end furniture brands “carbon positive” by the end of 2020, as buyout funds battle to woo investors increasingly focused on tackling global warming.
Nestle SA has asked its staff to halt international travel for business purposes through March 15 as a precautionary measure amid the rapid spread of the coronavirus globally, the Swiss company said on Wednesday.
Facebook Inc said on Wednesday it would ban advertisements for products offering any cures or prevention around the coronavirus outbreak, and those that create a sense of urgency around the situation.
Oil prices fell more than 1% on Wednesday after hundreds of new coronavirus cases reported in Asia, Europe and the Middle East stoked fears that energy demand would decline, while crude oil inventories in the United States grew.
Gains on Wall Street led stocks across the globe higher on Wednesday, a rebound from a sharp selloff linked to coronavirus worries, but other financial markets felt nagging pressure from concerns over how the disease will affect the global economy.
Morgan Stanley is asking anyone who is attending its technology, media and telecom conference in California next week to report if they have visited several countries that have reported coronavirus cases in recent weeks.
British challenger bank Virgin Money is planning to cut 500 jobs as it presses ahead with cost-cutting after bulking up through the merger of Virgin Money and Clydesdale and Yorkshire Banking Group in 2018, it said on Wednesday.
The U.S. Supreme Court on Wednesday refused to back stricter deadlines for workers to sue retirement plans over alleged mismanagement, ruling Intel Corp cannot avoid a suit accusing it of unlawfully making high-risk investments that cost retirement plan beneficiaries hundreds of millions of dollars.
Walmart , the world’s largest retailer, is in talks with third parties regarding a possible investment in Asda, its UK supermarket arm that it tried, and failed, to merge with rival Sainsbury’s last year.
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