Business News

Britain’s biggest domestic bank Lloyds is planning to axe 780 jobs as part of ongoing cost-cutting at the lender, union Unite said on Wednesday.

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U.S. crude dropped below $50 on Wednesday, the lowest level 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.

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Panasonic Corp said it would exit solar cell production at Tesla Inc’s New York plant, the latest sign of strain in a partnership where Panasonic’s status as the U.S. electric vehicle (EV) maker’s exclusive battery supplier is ending.

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Toyota Motor Corp on Wednesday said that operations at its plants in Japan may be affected by supply chain issues linked to the new coronavirus outbreak in the coming weeks, as the global outbreak gathers pace.

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Bayer , which is fighting claims its weedkiller Roundup causes cancer, said its Chairman Werner Wenning was stepping down because the drugs and crop protection company was making good progress in settlement talks.

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World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs and U.S. bond yields held near record lows after governments and health authorities warned of a possible coronavirus pandemic.

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Toyota Motor Corp on Wednesday said it would cancel all non-essential travel for employees in Japan, becoming the latest global company to curb operations as the speed of the new coronavirus outbreak appears to gather pace.

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Peugeot maker PSA Group said its profitability reached a record high in 2019 but the French carmaker forecast falling industry sales in Europe this year as it pursues its merger with Fiat Chrysler, which is strong in North America.

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Hyundai Motor Co and its affiliates are ready to decide the location of a new hydrogen fuel-cell system factory this year, which could be in South Korea or overseas, an executive said on Wednesday.

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Starbucks Corp said on Wednesday its Canadian stores will start selling a Beyond Meat Inc plant-based breakfast sandwich next week, the first time the world’s biggest coffee chain will offer an imitation meat product.

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Crude oil prices gave up early gains and slid for a fourth day on Wednesday as fears of a coronavirus pandemic deepened as the outbreak spread in several countries outside China.

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Peugeot maker PSA Group said profitability reached fresh highs in 2019, though the French firm underscored a gloomy outlook for car sales in markets like Europe this year as it pursues its merger with Fiat Chrysler .

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Panasonic Corp plans to exit solar cell production at Tesla Inc’s New York plant, the latest sign of strain in a partnership where Panasonic’s status as the U.S. electric vehicle (EV) maker’s exclusive battery supplier nears its end.

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Asian shares fell on Wednesday as a U.S. warning to Americans to prepare for the possibility of a coronavirus pandemic jolted Wall Street yet again and pushed yields on safe-haven Treasuries to record lows.

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U.S. President Donald Trump and Indian Prime Minister Narendra Modi have agreed to “promptly” conclude ongoing trade talks that they hope can lead to the first phase of a bilateral U.S.-India trade deal, the White House said.

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