Business & Finance News
Oil prices rose nearly 1% on Thursday, extending big gains from a day earlier, as the market worried about crude supply disruptions and demand concerns were cushioned after a sharp drop in new coronavirus cases at the epicenter of the outbreak.
Asian stocks edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic, while the Japanese yen nursed heavy losses after suffering its steepest drop in six months.
Rock-bottom corporate bond yields, high levels of business debt and one of the fastest expansions of stock market valuations on record are worrying some Federal Reserve officials who fret such financial imbalances could aggravate any negative shocks to the U.S. economy.
A meeting of U.S. government officials to discuss further curbs on exports to Huawei and China is still on for Thursday, two sources said, despite a pushback from President Donald Trump against stricter limits on shipments of U.S. products overseas.
Germany’s Fresenius Medical Care on Wednesday said quarterly adjusted operating income edged 3% higher as growth in dialysis services and products was partly offset by a negative adjustment for accounts receivable in a legal dispute in North America.
Senior Federal Reserve staff proposed ending longer-term loans to banks after April as part of a broader blueprint laying out how the central bank could scale back the support provided to money markets, the minutes from the January policy meeting showed.
The S&P 500 and Nasdaq rose to record closing highs on Wednesday as optimism that China would take more measures to prop up its economy eased concerns about the economic impact of the coronavirus epidemic.
Oil prices gained more than 2% on Wednesday as worries eased about demand declining due to the spread of coronavirus cases in China, while supplies tightened as the United States moved to cut off more Venezuelan crude from the market.
U.S. stocks rose on Wednesday as optimism that China would take more measures to prop up its economy eased concerns about the economic impact of the coronavirus epidemic.
Wall Street’s newest cult stock appears to be Richard Branson’s Virgin Galactic Holdings Inc , as investors drive the space tourism stock to sky-high levels and short sellers dig in their heels.
Google is planning to move its British users’ accounts out of the control of European Union privacy regulators, placing them under U.S. jurisdiction instead, sources said.
Boeing Co and lawyers representing families of victims of a 737 MAX crash agreed in court on Wednesday to hold a conference call with U.S. government crash probe authorities over access to documents related to the now-grounded aircraft’s design, development and two fatal disasters involving it.
U.S. Attorney General William Barr on Wednesday questioned whether Facebook, Google and other major online platforms still need the immunity from legal liability that has prevented them from being sued over material their users post.
French prosecutors have stepped up their investigation into alleged misappropriation of funds at Renault by former boss Carlos Ghosn, saying a judge had now been assigned to the case to launch a formal investigation.
Federal Reserve policymakers were cautiously optimistic about their ability to hold interest rates steady this year, minutes of the central bank’s last policy meeting showed, even as they acknowledged new risks caused by the coronavirus outbreak.
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