Oil fell below $57 a barrel on Tuesday, pressured by concerns over the impact on oil demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market.
Oil fell to below $57 a barrel on Tuesday, pressured by concerns over the impact of the coronavirus outbreak in China on oil demand and a lack of any further action by OPEC and its allies to support the market.
Apple Inc's surprise warning that it will likely fall short of this quarter's sales target due to the coronavirus epidemic points to much pain for its chip and other suppliers as well as for rivals who also rely on China to build their products.
Alstom shares fell on Tuesday after the French firm agreed to buy the rail division of Canada's Bombardier for up to 6.2 billion euros ($6.7 billion), in a deal likely to be scrutinized by regulators and unions.
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World stocks markets were knocked off record highs on Tuesday as two of the world’s mega companies reported damage from the coronavirus outbreak.
Oil prices fell by more than 1% on Tuesday, tracking losses in financial markets on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand.
HSBC Holdings PLC said on Tuesday it would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years.
Tesla is in advanced stages of talks to use batteries from CATL that contain no cobalt - one of the most expensive metals in electric vehicle (EV) batteries - in cars made at its China plant, people familiar with the matter said.
China will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States.
Banco BTG Pactual SA founder Andre Esteves will be the marquee speaker at a wide-ranging event on Tuesday sponsored by the Brazilian investment bank, marking a return to the limelight for one of the country's best-known bankers.
Holiday Inn-owner InterContinental Hotels Group reported on Tuesday a slight dip in annual room revenue, hurt by a fall in bookings in Hong Kong due to protests, and flagged short-term hit from the virus outbreak in China.
French Finance Minister Bruno Le Maire warned Renault on Tuesday against shutting factories in France and cutting jobs there after the carmaker announced "no taboos" cost cuts last week.
When Kristin and Thomas Schmitt took out a mortgage and bought a house last summer, the German couple's dream looked as if it was coming true. Two months later, they learned that the tire factory where both work would be shut down early next year.
European car sales fell in January, hit by a sluggish global economy, higher car taxes in some EU countries and uncertainty over Britain's departure from the bloc, the European Auto Industry Association (ACEA) said on Tuesday.