Business & Finance News
New orders for U.S.-made goods increased by the most in nearly 1-1/2 years in December, flattered by robust demand for defense aircraft, but persistently weak business spending on equipment pointed to limited scope for a sharp rebound in manufacturing.
Demand for Ferrari’s Portofino and 812 Superfast models helped the Italian supercar maker hit last year’s profit targets though it only provided a cautious upgrade to its outlook for 2020.
The U.S. Justice Department has reached out to app developers as part of its investigation into Apple Inc , one of the four big tech companies being probed for alleged anti-competitive behavior, according one of the developers and another person familiar with the investigation.
U.S. stocks surged on Tuesday and the S&P 500 and Nasdaq were on pace to unwind losses from last week as fears of a heavy economic impact from the coronavirus epidemic tapered off after China’s central bank intervened for the second day.
Shares of Tesla Inc surged 20% on Tuesday to hit $940, extending a stunning rally that has more than doubled the company’s market value since the start of the year as more investors bet on Chief Executive Elon Musk’s vision.
Crude oil prices rebounded and global equity markets surged on Tuesday as China’s efforts to minimize the economic impact from the coronavirus epidemic spurred investors’ risk appetite.
The U.S. Federal Reserve announced Tuesday it had permanently barred Goldman Sachs executive Andrea Vella from the banking industry for his role in Malaysia’s 1MDB scandal.
Hedge funds are holding their nerve on China’s ability to rebound quickly from a coronavirus outbreak that has rattled global markets, but many are also adding caveats as they try to predict the potential economic fallout.
Hyundai Motor will suspend production in South Korea because the coronavirus outbreak has disrupted the supply of parts, it said, becoming the first major carmaker to do so outside of China.
Higher prices for Ralph Lauren Corp’s down jackets and fleeces during the crucial holiday season boosted its margin and helped the company beat quarterly profit estimates on Tuesday, sending the fashion house’s shares up over 8%.
ConocoPhillips boosted its share buyback program by $10 billion on Tuesday even as lower oil and gas prices continued to batter the world’s largest independent oil and gas producer’s profit.
Alphabet Inc shares fell 4% on Tuesday after the search giant posted its first holiday-quarter revenue miss in five years, even as new disclosures on the company’s smaller YouTube unit were warmly welcomed by Wall Street.
Skoda is hoping government moves to drag regulations for cars sold in India up to developed market standards will help turn around its fortunes in a market where it has stalled.
New orders for U.S.-made goods increased by the most in nearly 1-1/2 years in December amid strong demand for defense aircraft, but weak business spending on equipment pointed to limited scope for a sharp rebound in manufacturing even as business confidence is improving.
Gains in technology heavyweights helped Wall Street’s main indexes climb for the second day on Tuesday, with fresh intervention by China’s central bank calming investor nerves.
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