Business & Finance News
When worries over the coronavirus shook U.S. stocks out of a period of quiet trading last week, investors wondered if the outbreak was the “Black Swan” event that would trigger a sharp decline. Less than a week later, talk has turned instead to a market melt-up.
A number of Chinese manufacturers including a subsidiary of Apple Inc partner Foxconn have refitted production lines to make masks and medical clothing, as a deadly coronavirus spreads across China.
The United States said on Thursday it was pushing hard for the World Trade Organization to reach agreement on cutting fishing subsidies in coming months and viewed those talks as a test of whether the global body can still achieve multilateral deals.
Boeing Co suppliers are shedding jobs and capacity to cope with a halt in 737 MAX output, but while that staves off chaos, aerospace executives worry the industry might be unable to ramp factories quickly enough when the plane wins approval to fly again.
U.S. job growth likely picked up in January, with unseasonably mild temperatures seen boosting hiring in the weather-sensitive sectors, indicating the economy will probably continue to grow moderately despite a deepening slump in business investment.
U.S. President Donald Trump expressed confidence in China’s strength and resilience in confronting its coronavirus outbreak during a conversation with President Xi Jinping on Thursday, a White House spokesman said.
Goldman Sachs Group Inc plans to raise $8 billion in only its second buyout fund since the 2008 financial crisis, bolstering its ability to secure deals worldwide, said two people with direct knowledge of the matter.
Honda Motor Co said Friday it will keep operations at its vehicle plants in Wuhan, China, suspended through Feb. 13, as previously planned.
Toyota Motor Corp on Friday said production at all of its plants in China would remain suspended through Feb. 16, joining a growing number of automakers facing output stoppages due to supply chain issues as the coronavirus outbreak spreads.
The South Korean government said on Friday it has asked Chinese regional governments for help in resuming production at South Korean auto parts suppliers’ factories in China.
Boeing narrowly missed a “catastrophic failure” during its December flight test of an unmanned space taxi that was cut short by an unrelated problem, a NASA safety review panel said Thursday, recommending that the agency examine Boeing’s software verification process before letting it fly humans to space.
A mid-week rally in Asian share markets halted on Friday and oil prices steadied as the growing death toll and economic damage from a new virus spreading from China curbed further gains.
ViacomCBS is working on a streaming service that will build on CBS All Access, a person familiar with the matter said on Thursday.
Hedge fund Elliott Management Corp, one of the world’s most powerful activist investors, has amassed a nearly $3 billion stake in SoftBank Group Corp and is pushing for changes to boost the Japanese conglomerate’s value, sources said.
U.S. Attorney General William Barr said on Thursday the United States and its allies should consider the highly unusual step of taking a “controlling stake” in Finland’s Nokia and Sweden’s Ericsson to counter China-based Huawei’s dominance in next-generation 5G wireless technology.
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