Business News
Britain’s Lloyds to cut 780 jobs: union
Britain’s biggest domestic bank Lloyds is planning to axe 780 jobs as part of ongoing cost-cutting at the lender, union Unite said on Wednesday.
Month: February 2020
Business News
U.S. crude drops below $50 as Washington warns of a global pandemic
U.S. crude dropped below $50 on Wednesday, the lowest level since January 2019, as Asia, Europe and oil producing countries in the Middle East reported hundreds of new coronavirus cases and the United States warned of an inevitable pandemic.
Business News
Panasonic to exit solar production at Tesla’s New York plant as partnership frays
Panasonic Corp said it would exit solar cell production at Tesla Inc’s New York plant, the latest sign of strain in a partnership where Panasonic’s status as the U.S. electric vehicle (EV) maker’s exclusive battery supplier is ending.
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The worst two-day selloff since 2015: Morning Brief
Top news and what to watch in the markets on Wednesday, February 26, 2020. …read more […]
Business News
Toyota says Japan plants may be affected by virus-related supply issues
Toyota Motor Corp on Wednesday said that operations at its plants in Japan may be affected by supply chain issues linked to the new coronavirus outbreak in the coming weeks, as the global outbreak gathers pace.
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Former Microsoft engineer convicted for stealing over $10M in digital currency, using bitcoin mixing service
A former Microsoft engineer has been declared guilty for stealing more than $10 million in digital currency and using a bitcoin mixing service. The post Former Microsoft engineer convicted for stealing over $10M in digital currency, using bitcoin mixing service appeared first on The Block. …read more […]
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Do Visa's (NYSE:V) Earnings Warrant Your Attention?
It’s only natural that many investors, especially those who are new to the game, prefer to buy shares in ‘sexy’ stocks… …read more […]
Business News
Bayer chairman quits after making progress to settle litigation
Bayer , which is fighting claims its weedkiller Roundup causes cancer, said its Chairman Werner Wenning was stepping down because the drugs and crop protection company was making good progress in settlement talks.
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U.S. Stock Market Appears Most Vulnerable to Virus Shock
(Bloomberg Opinion) — The stock market with the most to lose from a wider coronavirus outbreak is the one in the U.S.Global markets sold off on Monday and Tuesday on reports that authorities are struggling to contain the virus, which has now spread to more than 30 countries and increasingly threatens the global economy. Until this week, the declines in global stocks seemed to be driven by proximity to the virus’s epicenter in China, but it’s becoming increasingly clear that few markets will escape harm if the virus isn’t contained.What’s not clear is which stock markets would suffer the sharpest …read more […]
Business News
World shares slump for fifth day, bets grow on interest rate cuts to counter damage
World stocks tumbled for the fifth straight day on Wednesday, while safe-haven gold rose back towards seven-year highs and U.S. bond yields held near record lows after governments and health authorities warned of a possible coronavirus pandemic.
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Rio CEO Says World Must Sacrifice Growth to Meet Climate Goals
(Bloomberg) — Rio Tinto Group’s chief executive officer said the world must be prepared to sacrifice growth to achieve climate goals as the natural resources industry comes under increasing pressure to curb emissions.“The challenge for the world, and for the resources industry, is to continue the focus on poverty reduction and wealth creation, while delivering climate action,” Jean-Sebastien Jacques told investors on Wednesday. “This will require complex trade-offs.”Jacques said consumers, governments and shareholders must all be willing to make sacrifices — in the form of lower consumption, growth and returns — if climate targets are to be met. The mining …read more […]
Business News
Toyota cancels non-urgent travel for Japan workers due to coronavirus
Toyota Motor Corp on Wednesday said it would cancel all non-essential travel for employees in Japan, becoming the latest global company to curb operations as the speed of the new coronavirus outbreak appears to gather pace.
Business News
Profits surge at Peugeot maker PSA ahead of Fiat merger
Peugeot maker PSA Group said its profitability reached a record high in 2019 but the French carmaker forecast falling industry sales in Europe this year as it pursues its merger with Fiat Chrysler, which is strong in North America.
Business News
Hyundai to decide hydrogen fuel-cell system factory location this year: executive
Hyundai Motor Co and its affiliates are ready to decide the location of a new hydrogen fuel-cell system factory this year, which could be in South Korea or overseas, an executive said on Wednesday.