Business & Finance News
Chevron Corp on Friday posted a fourth-quarter loss as the oil major booked an impairment charge of $10.4 billion related largely to a deepwater Gulf of Mexico project, shale gas assets in Appalachia and the Kitmat LNG project in Canada.
Caution about the economic impact of the coronavirus epidemic knocked U.S. stock index futures lower on Friday, more than offsetting a boost from the latest batch of upbeat quarterly corporate earnings.
Widely blamed for volatile “flash crashes” in currencies and equities, high-frequency algorithms may also be why shock global events, including the current coronavirus, seem to have lost their power to spook markets for any length of time.
Widely blamed for volatile “flash crashes” in currencies and equities, high-frequency algorithms may also be why shock global events, including the current coronavirus, seem to have lost their power to spook markets for any length of time.
Exxon Mobil Corp reported a 5.2% drop in fourth-quarter profit on Friday, hit by weaker margins in its refining and chemical business.
Funds increased their preference for stocks to a two-year high at the expense of bonds and cash holdings in their model global portfolio recommendations this month in a Reuters poll, despite world share markets struggling on the coronavirus breakout.
Pending U.S. securities rules that would limit shareholder proposals have divided passive and active U.S. fund firms as some take a harder line on issues like climate change.
Oil prices will remain supported near current levels this year as persistent geo-political risks and OPEC-led output curbs help offset growing supply from other producers, a Reuters poll showed on Friday.
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.
Orange , France’s biggest telecoms company, said it had chosen Nokia and Ericsson to deploy its 5G network in mainland France, as China’s Huawei Technologies faces intense political scrutiny in Europe.
Oil prices rose on Friday but were still set for a fourth consecutive weekly loss, as markets attempted to assess the economic damage of the new coronavirus that has spread from China to around 20 countries, killing more than 200 people.
Nearly 140 governments have agreed to launch a rewrite of decades-old cross-border tax rules for the digital age over the coming months, the Organization for Economic Cooperation said on Friday after talks this week in Paris.
EssilorLuxottica’s 7.2 billion euro ($8 billion) bid for Dutch opticians group GrandVision faces a full-scale EU antitrust investigation after it declined to offer concessions to address concerns, people familiar with the matter said on Friday.
Canadian billionaire Lawrence Stroll has agreed to buy up to 20% of Aston Martin and rename his Formula One team after the 107-year-old company famed for being fictional secret agent James Bond’s car of choice.
The coronavirus is threatening to disrupt large parts of China’s manufacturing machine and its global supply chains as the spread of infection and strict public health measures force companies and workers to remain idle.
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