U.S. consumer spending rose less than expected in January, a loss of momentum that could be exacerbated by the rapidly spreading coronavirus, which has triggered a sharp stock market sell-off and revived fears of a recession.
U.S. stocks opened sharply lower on Friday as investors dumped equities amid a rapidly spreading coronavirus outbreak, which has raised fears of a possible global recession.
Federal Reserve rate cuts are 'a possibility' if the outbreak of coronavirus intensifies into a global pandemic with death rates approaching yearly flu outbreaks, St. Louis Federal Reserve bank president James Bullard said Friday, in the U.S. central bank's most explicit assessment yet of how the epidemic is influencing its thinking.
Coty Inc on Friday named Jimmy Choo boss Pierre Denis as its next chief executive officer, replacing Pierre Laubies, betting on deep luxury fashion sector experience as the company tries to turnaround sales of its core hair care and cosmetics products.
U.S. stock index futures dropped on Friday as a surge in coronavirus cases, which have already wiped nearly $3 trillion off stocks listed on the benchmark S&P 500 this week, triggered recession fears.
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Three former Barclays executives were cleared of credit-crisis era fraud charges by a jury on Friday after a landmark London trial over undisclosed payments to Qatar in 2008.
Several key OPEC members are leaning towards a bigger than previously expected oil output cut, four sources with knowledge of the talks said, as oil prices fell to $50 per barrel on fears the coronavirus outbreak will hit oil demand badly.
The European Central Bank does not need to take immediate action in response to the coronavirus epidemic, two ECB policymakers said on Friday, confounding market bets on a rate cut.
UBS Chief Executive Sergio Ermotti, one of Europe's best paid bankers, earned 12.5 million francs in 2019, down from 14.1 million in 2018 after the bank was hit with a multi-billion-euro court case and it missed earnings goals.
Carmakers were scrambling to reorganise press conferences and vehicle presentations after Swiss authorities forced the cancellation of the Geneva car show on Friday in an effort to contain the coronavirus.
Volkswagen and a major German consumer group said on Friday that they had reached an 830 million euro ($902.04 million) agreement in a class action lawsuit over the carmaker's rigging of diesel emissions tests.
Three former Barclays executives were acquitted in London on Friday of charges they helped funnel 322 million pounds ($418 million) in secret fees to Qatar during the credit crisis, in return for rescue funding.
Volkswagen and a major German consumer group have reached an agreement in a class action lawsuit over the carmaker's rigging of diesel emissions tests, a court in the northern city of Brunswick said on Friday.
China's three biggest airlines have restored a fraction of the international flights they halted in the wake of a coronavirus outbreak, heeding a call from the aviation regulator as business activity recovers slowly.