Business & Finance News
European shares on Friday were set to post their first daily gain this week on signs of a recovery ahead for growth, with easing worries over the coronavirus outbreak in China also emboldening investors.
Credit card issuer American Express Co reported a fourth-quarter profit on Friday that beat analysts’ estimates, as more people used its cards for shopping and paying bills while a strong U.S. retail sales environment also helped.
The United States wants India to buy at least another $5-6 billion worth of American poultry and farm goods if New Delhi wants to win reinstatement of a key U.S. trade concession, four sources familiar with the talks told Reuters.
Workers’ approval of a possible divestment of Volkswagen’s transmissions making unit Renk and MAN Energy Solutions depends on who the new owner will be, the carmaker’s labor chief said on Friday.
Bayer AG is set to face a fourth U.S. jury trial over allegations that its Roundup weed killer causes cancer, with four cancer patients in the hometown of its agricultural subsidiary Monsanto scheduled to begin making their case on Friday.
Some cannabis stocks are seeing their prices surge as investors hunt for winners in the ashes of an industry shakeout that hammered share prices last year.
Oil slipped below $62 a barrel on Friday and was heading for a weekly decline as concern that a virus in China may spread, curbing travel and oil demand, overshadowed supply cuts.
SoftBank-backed cloud robotics and artificial intelligence startup CloudMinds is slashing its workforce as it burns through cash after repeated attempts to list on the stock market, three people familiar with the matter said.
Sweden’s Ericsson reported a smaller-than-expected rise in fourth-quarter core earnings on Friday and said higher costs would spill over into 2020 as the telecoms equipment maker looks to exploit its leading position in super-fast 5G networks.
European shares on Friday shrugged off worries over the coronavirus outbreak after the World Health Organisation designated it an emergency for China but not yet for the rest of the world.
Shares in seeds and pesticides maker Bayer opened 2.3% higher on Friday, driven by a report on a possible out-of-court settlement of a U.S. jury trial over allegations that its weed killer Roundup causes cancer.
The euro held near seven-week lows on Friday after the European Central Bank struck a more dovish tone at Thursday’s meeting than some had expected.
Italy’s competition watchdog has launched proceedings against Facebook for non-compliance with a previous request it had made regarding improper commercial practices in the group’s treatment of user data, the agency said on Friday.
Oil prices climbed on Friday, following a drawdown in U.S. crude stocks, but were set to fall heavily for the week amid worries that a new coronavirus in China that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects.
Food group Nestle has teamed up with Canadian plant-based food ingredient makers Burcon and Merit to speed up innovation in the fast-growing business segment, it said on Friday.
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