Business News :

Indexes fall, led by tech decline on mounting fears coronavirus could spread

U.S. stocks fell on Thursday, led down by technology heavyweights, after reports of new coronavirus cases in China and other countries intensified fears over its spread and impact on the global economy.

Oil prices rise as U.S. crude stocks build less than expected

Oil prices were up slightly on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.

Outbreak will not change China's commitments to buy U.S. goods - senior U.S. official

The U.S. government expects China to honor its commitments to buy more U.S. goods under a trade deal signed by the world's two largest economies in January despite the fast-spreading coronavirus outbreak, a senior U.S. official said on Thursday.

Morgan Stanley's Gorman charts ambitious course with $13 billion E*Trade deal

Morgan Stanley said on Thursday it would buy discount brokerage E*Trade Financial Corp in a stock deal worth about $13 billion, the biggest acquisition by a Wall Street bank since the 2008-2009 financial crisis.

Morgan Stanley's E*Trade deal to test Washington's regulatory mood in election year

Morgan Stanley's takeover of brokerage E*Trade Financial Corp  reflects a more relaxed regulatory mood in Washington, but it is still a gamble in an election year that will see Democrats continue to shine a spotlight on Wall Street excesses, said analysts.

Spotlight turns to Goldman Sachs after Morgan Stanley deal

For months, the watercooler chatter around big Wall Street banks focused on whether Goldman Sachs Group Inc would finally pursue a major deal. Instead, Goldman's top rival beat it to the punch.

Coronavirus may sideswipe Chile, Peru and Brazil economies, leave Mexico unscathed

The coronavirus outbreak in China may be altering the 2020 investment outlook for Latin America, souring sentiment toward regional free market beacons Chile and Brazil, while turning heads - and cash - toward left-leaning Mexico.

Alstom and Bombardier have 'strong case' for rail deal - Canadian pension fund CEO

Alstom SA has a "strong case" to acquire Bombardier Inc's rail business for up to 6.2 billion euros, without making too many important concessions, the chief executive of Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) said.

WarnerMedia, YouTube TV expand distribution deal to include upcoming HBOMax

AT&T Inc's WarnerMedia has expanded its partnership with Alphabet Inc's Youtube TV to feature its upcoming streaming service HBOMax, as well as content from HBO and Cinemax, the companies said on Thursday.

Uber returns to Colombia less than a month after exit

Uber Technologies Inc resumed transporting passengers in Colombia on Thursday with a new service model that allows users to rent cars with drivers, just 20 days after it exited the Andean country following a ruling by regulators which the company described as arbitrary.

French ADP buys 49% of India's GMR Airports for 1.34 billion euros

French airports operator ADP, which operates Paris airports Roissy and Orly, has bought a 49% stake in India's GMR Airports for 1.34 billion euros ($1.45 billion), ADP said on Thursday.

Shipping lines, ports count cost as coronavirus hits supply chains

China is struggling to resume normal trade operations as fallout from the coronavirus outbreak hits container shipping lines and logistics chains, with goods stuck and costs mounting, industry officials say.

EU privacy body warns of privacy risks in Google, Fitbit deal

Alphabet Inc-owned Google's $2.1 billion bid for fitness trackers company Fitbit could pose privacy risks, the European Data Protection Board (EDPB) warned on Thursday, adding its voice to other critics of the deal.

Dollar tramples yen and safe-haven status, gold gains

The strong dollar got stronger on Thursday, rising to a three-year high against a basket of trading partner currencies, after a steep slide in the Japanese yen called into question its safe-haven status while the rally in U.S. equities took a pause.

Instant view: Wall Street drops around 1% as coronavirus fears grow

U.S. stock indexes fell more than 1% on Thursday, with technology stocks among the hardest hit as investors weighed how bad the economic damage will be from the coronavirus outbreak as the number of cases rise outside of China.

Thyssenkrupp nears full sale of $17 billion elevator division - sources

Thyssenkrupp is nearing a full sale of its elevator division, three people familiar with the matter said, adding that this would secure the highest valuation of about 16 billion euros ($17.3 billion) to help the company pay down debt.

L Brands sells majority stake in Victoria's Secret, CEO Wexner to step down

L Brands Inc said on Thursday it will sell a controlling stake in its Victoria's Secret unit to investment firm Sycamore Partners, valuing the lingerie brand at $1.1 billion (852.25 million pounds), as it focuses on its core Bath & Body Works brand.

Gold climbs to 7-year high as virus woes boost safety demand

Gold prices rose to their highest level in seven-years on Thursday as investors sought safe haven assets after a rise in the number of new coronavirus cases in South Korea added to worries over the global economic impact of the outbreak.

ViacomCBS profit and revenue disappoints, sinks shares

ViacomCBS Inc on Thursday said its earnings fell short of revenue and profit expectations in its first quarterly earnings results since closing its merger, sending shares down 14% in morning trading.

Gail India issues tender to buy and sell LNG cargoes - sources

Gail (India) has issued a swap tender offering three cargoes of liquefied natural gas (LNG) for loading in the United States and seeking three for delivery to India, two industry sources said on Thursday.