When worries over the coronavirus shook U.S. stocks out of a period of quiet trading last week, investors wondered if the outbreak was the “Black Swan” event that would trigger a sharp decline. Less than a week later, talk has turned instead to a market melt-up.
Credit Suisse Chief Executive Tidjane Thiam has quit after losing a power struggle within Switzerland's second-biggest bank as it seeks to move past a widening spying scandal that has prompted ever-louder calls for changes in leadership.
Burberry said on Friday the outbreak of coronavirus in China was hurting luxury demand in the mainland and Hong Kong, both important markets for the British brand.
The White House's economic adviser on Friday said that President Donald Trump's administration does not expect the coronavirus in China will have a major effect on the U.S. economy.
Tidjane Thiam is unlikely to quietly retire after his abrupt exit as chief executive of Credit Suisse, some of those who have worked with him predict.
White House economic adviser Larry Kudlow said on Friday that a U.S. decision to impose "Section 232" national security tariffs on cars and auto parts imported from the European Union is on pause amid attempts to reach a U.S.-EU trade deal.
Chinese President Xi Jinping told U.S. President Donald Trump that China would still meet its Phase 1 trade deal purchasing targets despite delays linked to the coronavirus, White House adviser Larry Kudlow told Bloomberg Television on Friday.
Wall Street pulled back from record levels on Friday, as investors assessed the U.S. employment report that showed jobs growth accelerated in January but included a downward revision to some previous numbers.
When worries over the coronavirus shook U.S. stocks out of a period of quiet trading last week, investors wondered if the outbreak was the “Black Swan” event that would trigger a sharp decline. Less than a week later, talk has turned instead to a market melt-up.
Britain's decision to eschew U.S. concerns and grant China-based Huawei Technologies a limited role in its 5G network will not hinder efforts to reach a U.S.-UK trade deal, White House economic adviser Larry Kudlow said on Friday.
The latest warning comes from Charles Schwab strategists, who are advising clients to reduce their exposure to a part of the market that will see a record number of maturities over the next five years.
U.S. Vice President Mike Pence said on Friday that Britain's decision to let Huawei Technologies have a limited role in its 5G network remains a point of issue between the two traditional allies.
European Union leaders and institutions went into a frenzy of meetings this week to start the toughest job the bloc faces this year: agreeing on a seven-year budget that for many is the most tangible sign of what a united Europe will look like after Brexit.
Mediaset will submit revised plans to merge its Italian and Spanish broadcasting units under a Dutch entity to authorities in the Netherlands, securing a six-month extension to complete the project, two sources familiar with the matter said.
AbbVie Inc on Friday forecast full-year earnings well above Wall Street estimates, as the U.S. drugmaker looks to new treatments and its pending acquisition of Allergan Plc to drive growth beyond 2023, when its cash cow Humira loses patent protection.