Business & Finance News
Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.
While Wall Street’s broader indexes fell sharply on Monday on concerns about coronavirus, investors turned to some consumer companies as they bet on stock-piling of products such as disinfectants and shelf-stable foods.
Renault said on Monday it had filed a civil-party petition after French prosecutors last week opened a formal investigation into alleged misappropriation of funds at the French carmaker.
Hedge fund Third Point LLC amassed a more than $2 billion stake in Prudential Plc and called on the British insurer on Monday to split into two companies.
Financial markets on Monday ratcheted up bets the U.S. Federal Reserve will be pressed to cut interest rates to cushion a feared hit to economic growth from the spread of the coronavirus.
The Dow Jones Industrials shed 1,000 points on Monday and the S&P 500 was set for its worst day in two years as a surge in coronavirus cases outside China clouded global growth outlook.
Veteran Bank of America banker Wadih Boueiz has resigned after a career spanning 21 years, a source with knowledge of the matter told Reuters.
Stocks across the globe posted their largest decline in over two years on Monday and oil prices tumbled 5% as a jump in coronavirus cases outside of China sent investors scrambling to the security of gold and government bonds on fears of the impact to the global economy.
The blue-chip Dow Jones Industrial Average index briefly fell more than 1,000 points on Monday, as investors dumped riskier assets after a jump in coronavirus cases outside China fueled global growth worries.
UBS Group AG said on Monday that 38% of its employees in the Americas at the end of last year were women and 25% were people of color, adding that it aims to increase the diversity of its workforce.
Sanofi plans to create a standalone company dedicated to making active pharmaceutical ingredients (API), components that are biologically active in a drug, and will decide whether to list it on Euronext Paris by 2022.
The Dow Jones Industrials fell more than 800 points and the S&P 500 as well as the Nasdaq hit three-week lows on Monday as a surge in coronavirus cases outside China fueled global growth worries and pushed investors to safer assets.
Hedge fund Third Point LLC has amassed more than a $2 billion stake in Prudential Plc and plans to push Britain’s biggest insurer to split into two companies, people familiar with the matter said on Monday.
Teck Resources Ltd’s surprise decision to cancel a planned C$20.6 billion ($15.6 billion) oil sands mine in northern Alberta, citing uncertainty about Canada’s climate policy, underscores a global struggle to balance energy growth with environmental concerns.
The Dow Jones Industrials shed 800 points on Monday as investors scurried to safer assets after a sharp rise in coronavirus cases outside China fueled fears of a bigger impact to global growth.
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