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Updated: 32 min 52 sec ago

Oil gains amid assessment of China virus impact, possible OPEC supply cuts

Tue, 01/28/2020 - 11:21pm
Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day rout on talk that OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles also helped steady prices.

Asian shares turn red as Hong Kong tumbles on China virus

Tue, 01/28/2020 - 9:53pm
Asian shares erased earlier gains on Wednesday, swinging into negative territory as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and fueled fears about the economic impact of the outbreak.

Foxconn says plans in place to meet production obligations after virus outbreak

Tue, 01/28/2020 - 9:32pm
TAIPEI - Apple Inc supplier Foxconn said it could continue to meet all manufacturing obligations in the wake of a coronavirus outbreak in China even as the iPhone maker flagged uncertainty created by the disease.

Oil rises as investors take stock of economic hit from virus

Tue, 01/28/2020 - 8:36pm
Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day fall on talk OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.

Tim Hortons pulls Beyond Meat products from Ontario, British Columbia

Tue, 01/28/2020 - 8:32pm
Restaurant Brands International Inc's Tim Hortons said on Tuesday it has removed Beyond Meat Inc's products from its coffee and donut shops in the Canadian provinces of Ontario and British Columbia.

Renault turns to VW's De Meo as car maker seeks fresh start

Tue, 01/28/2020 - 8:18pm
Renault's Tuesday named Luca de Meo, the former head of Volkswagen's Seat brand, as its next chief executive, as the car maker looks to draw a line under a year of turmoil by finalizing a long-awaited management shake-up.

Asian stocks rise as Apple drives tech gains, virus worries ease

Tue, 01/28/2020 - 8:07pm
Asian shares rose on Wednesday as better-than-expected Apple Inc earnings drove some regional tech gains although broader confidence was capped by worries about the economic impact of China's virus outbreak.

JPMorgan plans to cut hundreds of jobs in consumer unit: Bloomberg

Tue, 01/28/2020 - 7:55pm
U.S. bank JPMorgan Chase & Co is planning to cut hundreds of jobs across its consumer division, Bloomberg reported on Tuesday, citing people briefed on the matter.

Nissan says it plans to sell 1.6 million cars in China this year

Tue, 01/28/2020 - 7:49pm
Japanese carmaker Nissan Motor Co said on Wednesday it planned to sell about 1.6 million vehicles in China, the world’s biggest auto market.

Proton-packed Geely takes on Honda and Toyota in Southeast Asia

Tue, 01/28/2020 - 7:39pm
Li Chunrong was hired by Chinese automaker Geely to revive the fortunes of the Proton brand in Malaysia, and it took him two years to eclipse Japanese giants Honda and Toyota. Now he plans to take the fight across Southeast Asia and beyond.

'Flash crash' trader sentenced to time served plus a year of home confinement: lawyers

Tue, 01/28/2020 - 7:23pm
A Chicago-based U.S. federal district court judge on Tuesday sentenced Navinder Sarao, a London-based trader accused of contributing to Wall Street's 2010 "flash crash", to time already served in jail of four months, with a year of home confinement, Sarao's attorneys said in a statement.

EBay forecast disappoints amid competition from Amazon, Walmart

Tue, 01/28/2020 - 6:36pm
EBay Inc forecast first-quarter revenue below analysts' estimates on Tuesday, as the e-commerce company faces fierce competition from Inc and Walmart Inc .

Apple's iPhone back to growth as company braces for coronavirus impact

Tue, 01/28/2020 - 6:35pm
The iPhone is back. But Apple is girding for more disruptions in virus-hit China.

Starbucks plans to launch plant-based breakfast sandwich this year

Tue, 01/28/2020 - 6:26pm
Starbucks Corp said on Tuesday it would introduce a breakfast sandwich this year with a plant-based patty in the United States and Canada.

Pfizer profit misses estimates as revenue falls; plans no 2020 share repurchases

Tue, 01/28/2020 - 6:11pm
Pfizer Inc on Tuesday reported quarterly profit that fell short of Wall Street expectations for the first time in at least two years, and the drugmaker said it will no longer rely on share repurchases to help drive growth.

Facebook VP of engineering Jay Parikh says leaving company

Tue, 01/28/2020 - 5:54pm
Facebook's vice president of engineering, Jay Parikh, said in a post on the social network on Tuesday that he was planning to leave the company, marking the exit of another key executive following a string of high-profile departures last year.

Blink and you miss it: The U.S. yield curve inverts again

Tue, 01/28/2020 - 5:52pm
A closely watched bond market phenomenon has again flashed yellow, but investors are loathe to give it much weight.

Airbus faces record $4 billion fine after bribery probe

Tue, 01/28/2020 - 5:49pm
Airbus faces a record $4 billion fine and lower 2019 profits after unveiling a preliminary deal with French, British and U.S. authorities following a crippling three-year probe into allegations of bribery and corruption over jetliner sales.

Apple iPhone back to growth after a year's slump; China virus adds uncertainty

Tue, 01/28/2020 - 5:45pm
Apple Inc on Tuesday reported sales and profits for the holiday shopping quarter above Wall Street expectations, powered by a rise in iPhone sales for the first time in a year and soaring demand for add-ons like AirPods wireless headphones.

Airlines cut China flights as companies restrict travel on virus fears

Tue, 01/28/2020 - 5:32pm
Airlines including United Airlines Holdings Inc said they were canceling some flights to China as demand fell sharply and global companies told their employees not to travel on deepening fears over the spread of a flu-like virus.