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Lyft cuts 2% jobs on journey to profitability

Business RSS - 44 min 14 sec ago
Lyft Inc said on Wednesday it had cut about 2% of its workforce, or 90 jobs, as the ride-hailing company seeks to achieve its goal of profitability by the end of 2021.

Fed keeps interest rates steady, offers no new balance sheet guidance

Business RSS - 49 min 57 sec ago
The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with the head of the U.S. central bank pointing to continued moderate economic growth and a "strong" job market, and giving no sign of any imminent changes in borrowing costs.

Google temporarily shutting down all China offices: The Verge

Business RSS - 57 min 59 sec ago
Alphabet Inc's Google is temporarily shutting down all its offices in China due to the outbreak of a new coronavirus in the country, technology website The Verge reported on Wednesday.

Oil mixed as virus fears, U.S. stock build face talk of further OPEC cuts

Business RSS - 1 hour 8 min ago
Oil prices were mixed on Wednesday as worries about the coronavirus outbreak and swelling U.S. crude inventories weighed on prices, counter-balanced by talk that OPEC could extend oil output cuts.

Global stocks gain on solid results, but virus keeps safe-havens alive

Business RSS - 1 hour 27 min ago
Global equity markets edged higher on Wednesday on strong results from Apple and others but concerns about the coronavirus outbreak in China kept a safe-haven bid in gold and the dollar alive.

British Airways, Iberia suspend direct flights to mainland China amid virus fears

Business RSS - 1 hour 44 min ago
British Airways has suspended all direct flights to and from mainland China, one of the biggest names in aviation to do so, as worries grow about the impact of the spreading coronavirus on global travel.

Fed leaves rates unchanged, offers no new guidance on balance sheet

Business RSS - 2 hours 6 min ago
The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with officials pointing to continued moderate U.S. economic growth and a "strong" job market.

Fed holds rates steady, offers no new guidance on balance sheet

Business RSS - 2 hours 6 min ago
The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with officials pointing to continued moderate U.S. economic growth and a "strong" job market.

KLM says it will scrap some flights to China due to the coronavirus outbreak

Business RSS - 2 hours 9 min ago
KLM, the Dutch arm of Air France KLM, will scrap some flights to China due to the coronavirus outbreak in the North Asian country, it said late on Wednesday.

GE shares jump 10% on profit beat, higher 2020 cash target

Business RSS - 2 hours 13 min ago
General Electric Co sold more investors on its turnaround story on Wednesday, sending shares 10% higher on its quarterly profit and cash results that beat forecasts, and its bullish cash target for 2020.

FOMC statement from January 28-29 meeting

Business RSS - 2 hours 13 min ago
Following is the full text of the statement released by the Federal Reserve's Federal Open Market Committee on Wednesday following a two-day meeting:

Traders maintain bets on Fed pausing on policy till later in year

Business RSS - 2 hours 13 min ago
U.S. short-term interest rate futures dropped but only slightly on Wednesday after the Federal Reserve wrapped up its January meeting without changing interest rates or signaling it was in any rush to do so.

Shell appoints director Goh as deputy chair

Business RSS - 2 hours 37 min ago
Royal Dutch Shell said on Wednesday director Euleen Goh would take over as its deputy chair from May 20.

Boeing posts first annual loss in two decades as 737 MAX costs near $19 billion

Business RSS - 2 hours 40 min ago
Boeing Co on Wednesday swung to its first annual loss since 1997 as 737 MAX costs doubled to nearly $19 billion, and the plane manufacturer indicated it would again cut production of its bigger 787 Dreamliner aircraft, currently its main source of cash.

Lyft plans restructuring, job cuts: New York Times

Business RSS - 2 hours 42 min ago
Lyft Inc plans to announce a restructuring that will result in job cuts, the New York Times reported on Wednesday, citing two people with knowledge of the matter.

How the North American trade deal will affect autos, digital trade, drugs

Business RSS - 2 hours 53 min ago
The U.S.-Mexico-Canada trade agreement (USMCA) signed by President Donald Trump on Wednesday modernizes the 26-year-old North American Free Trade Agreement, which has been blamed for hollowing out the U.S. manufacturing sector.

Oil mixed as virus fears offset talk of OPEC cut extension

Business RSS - 2 hours 55 min ago
Oil was mixed on Wednesday as worries about the coronavirus outbreak and swelling U.S. crude inventories weighed on prices, counter-balanced by talk that OPEC could extend oil output cuts.

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