Business & Finance News
South Korean car giant Hyundai Motor has increasingly relied on China to supply auto parts to its manufacturing hub at home in recent years. As the coronavirus spreads, its strategy could be backfiring.
A U.S. Republican lawmaker on Wednesday urged California to fire the chief investment officer of its public pension fund, the nation’s largest, citing what he called the CIO’s “long and cozy” relationship with Beijing, and assailed the fund’s investments in Chinese companies.
MGM Resorts International withdrew its forecast for 2020 on Wednesday, as it assesses the fallout of the coronavirus epidemic on its business.
The Pentagon is likely to back restrictions to Huawei Technologies, reversing earlier opposition to a proposal meant to further crack down on U.S. exports to the blacklisted Chinese technology company, Politico reported on Wednesday.
MGM Resorts International’s Chief Executive Officer Jim Murren will step down before completing his contract, the U.S. casino operator said on Wednesday.
Tesla Inc is recalling 15,000 Model X SUVs because of a potential issue that can lead to a loss of power steering assist that could make steering harder and increase the risk of a crash.
Wall Street closed at record highs on Wednesday as news that the coronavirus outbreak could be running out of steam kept buyers in the ring.
All three major U.S. stock indexes notched record closing highs on Wednesday as news the coronavirus could be running out of steam lifted investor optimism.
Global equity markets scaled fresh highs on Wednesday after China reported the lowest number of new coronavirus cases in two weeks, boosting hopes the epidemic will be contained and driving up the price of commodities sensitive to Chinese demand.
E-cigarette maker Juul Labs Inc bought online advertisements on teen-focused websites for Nickelodeon, Cartoon Network and Seventeen magazine after it launched its product in 2015, according to a lawsuit filed on Wednesday by the Massachusetts attorney general’s office.
Oil prices rose over 3% on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover.
The Mobile World Congress (MWC), the annual telecoms industry gathering that draws more than 100,000 visitors to Barcelona, was cancelled on Wednesday after a mass exodus by exhibitors due to fears over the coronavirus outbreak.
Food giant Nestle has set up new structures to turn innovative ideas from outside and inside the company into new products, its technology head told journalists on Wednesday ahead of the publication of the group’s full-year results.
SelectQuote has hired investment banks for an initial public offering (IPO) that could value the owner of the eponymous insurance policy comparison website at more than $2 billion, including debt, according to people familiar with the matter.
The Mobile World Congress tech conference has been canceled after several major companies pulled out over coronavirus fears, the GSMA telecoms association said on Wednesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
