Business & Finance News
Oil prices slid more than 2% on Friday as investors fretted about crude demand being pinched by the economic impact of the coronavirus outbreak, while leading producers appeared to be in no rush to curb output.
Canadian e-commerce company Shopify Inc said on Friday it would join Libra Association, a group that manages Facebook Inc led efforts to launch a global digital currency, Libra.
U.S. stock indexes fell on Friday after data showed U.S. business activity stalled in February, and a spike in new coronavirus cases in China and elsewhere sent investors scrambling for safer assets such as gold and government bonds.
U.S. home sales fell in January amid a dearth of houses, but the supply squeeze is likely to ease as building permits and the number of homes under construction are at levels last seen nearly 13 years ago.
Xerox Holdings Corp said on Friday it would continue to pursue HP Inc, even after the PC maker said it would implement a poison pill plan to shield itself against a takeover offer from the U.S. printer maker.
A powerful surge in the dollar threatens to magnify the pain for companies and nations already struggling with the economic fallout of the coronavirus.
Online sales of L’Oreal make-up and skincare products had picked up in China in February and were even stronger than a year earlier, Chief Executive Jean-Paul Agon said on Friday.
U.S. stocks fell further on Friday after data showed U.S. business activity in the manufacturing and services sectors stalled in February, as companies grew increasingly concerned about the coronavirus.
The dollar juggernaut rolls on. The U.S. currency has rocketed to a near three-year high versus the euro , a 10-month high against the yen and an 11-year peak versus the Aussie. This month alone it’s added 2.5% against six currency peers.
Qatar Airways said on Friday it was not interested in investing in struggling Italian carrier Air Italy, but would do all it could as minority shareholder for workers and passengers.
Deere & Co on Friday reported an unexpected increase in first-quarter profit and retained its full-year earnings forecast as signs of stabilization in the U.S. farm sector offset weak demand for construction machines, sending its shares soaring.
U.S. stock index futures edged lower on Friday as a spike in new coronavirus cases in China and elsewhere sent investors scrambling for safer assets such as gold and government bonds.
British entrepreneur Richard Branson heralded his first cruise ship “Scarlet Lady” on Friday as targeting a younger generation of holidaymakers with a range of attractions that he believes will outweigh any fears around coronavirus.
A powerful surge in the dollar threatens to magnify the pain for companies and nations already struggling with the economic fallout of the coronavirus.
Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian data fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.
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