Business & Finance News
Oil prices edged up on Wednesday after U.S. crude in storage grew less than expected and gasoline inventories dropped, but hundreds of new coronavirus cases reported in Asia, Europe and oil-producing countries in the Middle East limited gains.
Lufthansa and United Airlines are considering taking over TAP-Air Portugal, a German newspaper reported on Wednesday.
Wall Street’s main indexes rose about 1% on Wednesday after suffering their worst four-day percentage fall in more than a year on fears of the economic damage from the global spread of the coronavirus.
Swedish home appliance maker Electrolux said on Wednesday it had decided on ban travel by its employees to and from Italy, where it has manufacturing facilities in some regions affected by the coronavirus outbreak.
Alphabet Inc’s Google said on Wednesday it would invest more than $10 billion in offices and data centers across the United States this year.
Peugeot maker PSA Group said on Wednesday profitability reached a record high in 2019, results that contrasted with those of many rivals and boosted the group’s shares as it beds down a merger with Italy’s Fiat Chrysler.
U.S. stock index futures were mixed on Wednesday after the Dow and the S&P 500 indexes suffered their sharpest four-day percentage fall in more than a year on fears of the economic damage from the global spread of the coronavirus.
Ford Motor Co’s incoming chief operating officer outlined his priorities for the company’s turnaround on Wednesday, including cost cuts and more efficient new-vehicle launches in a year in which it will introduce a redesigned F-150 full-sized pickup truck.
Shares of Walt Disney Co fell 2% on Wednesday after the media giant’s surprise move to replace top boss Bob Iger raised questions on Wall Street if his successor Bob Chapek had sufficient experience in the entertainment business.
BP will leave the main U.S. refining lobby and two other trade groups as new CEO Bernard Looney spurs some of the oil sector’s most ambitious targets for curbing carbon emissions.
The jury in the London trial of three former Barclays bankers accused of funneling secret fees to Qatar in return for emergency funding during the financial crisis in 2008, retired to consider its verdict on Wednesday.
U.S. crude dropped below $50 on Wednesday to its lowest since January 2019, as Asia, Europe and oil-producing countries in the Middle East reported hundreds of new coronavirus cases and the United States warned of an inevitable pandemic.
Apple Inc’s shareholders on Wednesday will vote on a proposal critical of its moves to remove apps at the request of the Chinese government and calling on the iPhone maker to report whether it has “publicly committed to respect freedom of expression as a human right.”
Bayer Chairman Werner Wenning, one of the architects of a $63 billion takeover deal that has left the German crop protection company fighting costly lawsuits, will step down in April, it said on Wednesday.
It is still too early to assess the impact of the coronavirus outbreak on the European Union economy, the bloc’s economics commissioner Paolo Gentiloni said on Wednesday, adding that the bloc’s fiscal rules allow for more spending in emergencies.
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