Business & Finance News
Apple Inc said on Monday that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China.
The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies from companies such as Taiwan’s TSMC , the world’s largest contract chipmaker, two sources familiar with the matter said.
Apple Inc said on Monday that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China.
Amazon Chief Executive Officer Jeff Bezos will commit $10 billion to fund scientists, activists, nonprofits and other groups fighting to protect the environment and counter the effects of climate change, he said on Monday.
Euro zone finance ministers discussed ways to pursue a more growth-friendly fiscal policy mix on Monday, in a potential nudge to Germany and the Netherlands to spend more as fears of a downturn grow in the wake of the coronavirus epidemic.
Oil prices inched up on Monday as concerns over the economic fallout from the coronavirus outbreak in China were offset by expectations that potential production cuts from major producers could tighten global crude supply.
France’s Alstom said on Monday it had agreed to buy the train division of Canada’s Bombardier for up to 6.2 billion euros ($6.7 billion), in the latest bid by Western rail companies to bulk up in the face of Chinese competition.
The French government will make sure the acquisition of Bombardier’s train business by Alstom creates value for the European rail industry and the staff of both companies, Finance Minister Bruno Le Maire said on Monday.
EU industry commissioner Thierry Breton said on Monday it was for Facebook to adapt to Europe’s standards, not the other way round, as he criticized the U.S. social media giant’s proposed internet rules as insufficient.
The Italian government is leaning toward reappointing Claudio Descalzi as CEO of state-controlled oil firm Eni, provided he will work with a new board to speed up efforts to cut carbon emissions, four senior political sources told Reuters.
By Christoph Steitz, Tom Käckenhoff, Arno Schuetze and Edward Taylor
The European Union will decide by the end of the year whether to impose rules reining in the market power of U.S. tech giants, the bloc’s industry chief said on Monday as he criticised Facebook’s proposals as insufficient to address EU concerns.
German conglomerate Thyssenkrupp said on Monday it has shortlisted two private equity consortia in the sale of its 16 billion euro ($17.3 billion) elevator division, dealing a blow to Finland’s Kone , which withdrew from the closely watched deal.
Dubai is to take full control of port operator DP World in a deal with a $13.9 billion valuation that will help the company at the center of the emirate’s 2009 debt crisis to repay some of its borrowings.
Global shares were buoyant on Monday as the promise of further policy stimulus from China to counteract the economic hit from a coronavirus outbreak calmed nervous investors.
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