Business & Finance News
The United States drew China’s wrath with a travel warning on Friday while businesses struggled with supply problems from the coronavirus epidemic that has killed 213 people and been declared a global emergency.
Russia reported its first two cases of coronavirus on Friday and restricted direct flights to China, its biggest trade partner, as Russians complained of rising prices for medical masks and anti-virus medicine.
Travelex said it had partially restored its UK website, almost a month after a crippling ransomware attack forced the currency service provider to take its systems offline, causing chaos for New Year holidaymakers and business travelers.
International Business Machines Corp’s Ginni Rometty, the first woman chief executive of the tech pioneer, will be replaced in April by the head of its fast-growing cloud business, Arvind Krishna.
Italian prosecutors have investigated UBS Europe for possible money laundering and obstructing the work of regulators as part of a fraud inquiry into smaller asset manager Sofia SGR, two sources with direct knowledge of the matter said.
Oil prices were little changed on Friday but were on track for a fourth straight weekly loss, on mounting worries about economic damage from the coronavirus that has spread from China to around 20 countries, killing more than 200 people.
WASHINGTON (Reuters – U.S. consumer spending rose steadily in December, but tepid income gains pointed to moderate consumption growth this year, which together with slumping business investment likely set the economy on a slower growth path this year.
Wall Street’s main averages tumbled more than 1% on Friday, as mixed corporate earnings added to worries over the impact of the coronavirus outbreak on global growth.
Guatemala’s government is imposing blanket travel restrictions on people who have recently been in China to keep out the new coronavirus, President Alejandro Giammattei said on Friday.
Weaker crude oil and gas prices drove quarterly results sharply lower at Exxon Mobil Corp and Chevron Corp, pushing down shares at the two largest U.S. oil producers and signaling a weak start to the new year.
BMW has delayed the development of its next generation Mini as it seeks to cut costs and as uncertainty over Britain’s trade relations with the European Union make long-term investment decisions harder.
Bayer AG’s shares have taken a hit since three consecutive U.S. juries awarded more than $2 billion in damages to cancer patients alleging that the company’s glyphosate-based weed killer, Roundup, caused their disease.
Travelex’s UK website is now back online, the currency service provider said in an update https://www.travelex.com/customer-update, enabling customers to order travel money cash for store collection or home delivery, almost a month after a crippling ransomware attack.
Airlines are suspending flights to China in the wake of the new coronavirus outbreak, which as of Friday had killed more than 200 people and infected nearly 10,000 people.
European planemaker Airbus will pay 3.6 billion euros ($4 billion) to settle corruption probes by U.S., British and French authorities into contract dealings, lifting a legal cloud that has hung over the world’s largest aircraft maker for years.
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