Business & Finance News
Oil prices jumped by more than 3% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity.
U.S. stocks surged for a third straight day on Wednesday and the Nasdaq hit a new record high, helped by strong monthly domestic private jobs data and reports of progress in developing a treatment to fight the fast-spreading coronavirus.
Nasdaq hit a record high at the open on Wednesday following a strong monthly domestic private jobs data and on reports of treatments to fight the fast-spreading coronavirus.
General Motors Co on Wednesday forecast flat profits for 2020 and reported a better-than-expected fourth quarter result as it kicked off a new effort to win over investors stampeding into shares of electric car rival Tesla Inc .
General Motors Co has watched with frustration and envy as the market value of electric carmaker Tesla Inc has ballooned to more than triple GM’s size, but Wednesday the Detroit automaker will make the case that its EV and self-driving technology strategy deserves a higher value.
The U.S. trade deficit fell for the first time in six years in 2019 as the White House’s trade war with China curbed the import bill, keeping the economy on a moderate growth path despite a slowdown in consumer spending and weak business investment.
U.S. stock index futures climbed on Wednesday on strong monthly domestic private jobs data and reports of a treatment to fight the fast-spreading coronavirus.
Coty Inc beat Wall Street estimates for quarterly profit and revenue on Wednesday as it sold more nail care products to salons and beauty professionals in Europe, sending its shares up 10% in premarket trading.
General Motors Co on Wednesday forecast flat profits for 2020 and reported a better than expected fourth quarter result as it kicked off a new effort to win over investors stampeding into shares of electric car rival Tesla Inc .
Qatar Airways is in talks to buy a 49% stake in Africa’s RwandAir and is interested in doubling its holding in LATAM Airlines Group to 20%, its chief executive said on Wednesday.
The U.S. trade deficit dropped for the first time in six years in 2019 as the White House’s trade war with China curbed the import bill, helping the economy to continue growing moderately in the fourth quarter despite a slowdown in consumer spending.
Shares of Ford Motor Co fell nearly 8% on Wednesday, a day after the automaker forecast a lower profit for 2020, surprising analysts who also criticized the company’s management for holding back details on the earnings shortfall.
German sportswear company Adidas on Wednesday said it was temporarily shutting a “considerable” number of its stores in China due to the coronavirus outbreak which has killed nearly 500 people and infected thousands.
Expectations of more central bank stimulus lifted world stocks to their highest in more than a week on Wednesday, helping investors look past a mounting coronavirus death toll and policymakers’ concerns for the disease’s economic impact.
The coronavirus epidemic will have a only a marginal impact on global travel demand and the airline industry is healthy enough to absorb any economic slowdown in China, the chief executive of British Airways parent IAG said on Wednesday.
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