Fedcoin? The U.S. central bank is looking into it
The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday.
Qualcomm says China virus threatens phone industry disruption
(This February 5 story corrects number of 5G license agreements in paragraph 16)
Yum China warns coronavirus outbreak to hit 2020 sales, profit
Yum China Holdings Inc said on Wednesday its 2020 sales and profit would take a hit, as the coronavirus outbreak has forced the fast food restaurant operator to temporarily shut more than 30% of its stores.
S&P 500, Nasdaq mint record highs after strong U.S. data, waning virus fears
The benchmark S&P 500 posted a record closing high on Wednesday as U.S. stocks rallied for a third straight day on encouraging U.S. economic data and waning fears of the financial fallout from the corona virus in China.
With lipsticks, Hermes branches into competitive cosmetics world
France’s Hermes said on Wednesday it would start selling make-up from March, as the brand best known for its pricey Birkin handbags branches into a competitive beauty industry where its luxury rivals include Chanel.
S&P 500 posts record high on strong economic data, ebbing virus fears
The benchmark S&P 500 posted a record closing high on Wednesday as U.S. stocks rallied for a third straight day on encouraging U.S. economic data and waning fears of the financial fallout from a virus out of China.
Qualcomm forecasts current-quarter revenue above estimates
Qualcomm Inc forecast second-quarter revenue largely above Wall Street estimates on Wednesday, in the latest sign that a protracted slowdown in chip industry has bottomed out.
Tesla tumbles 17% as electrifying rally loses power
Tesla’s stock tumbled 17% on Wednesday, hitting the brakes on a dramatic rally as a senior executive said the coronavirus outbreak in China would delay deliveries of its Model 3 cars and analysts warned of its high valuation.
Oil prices jump 2% as virus vaccine reports spur hope
Oil prices jumped about 2% on Wednesday on media reports that suggested scientists were developing a vaccine for the fast-spreading coronavirus, even as world health experts said treatments have not yet been found.
Avianca’s top shareholder says has no knowledge of alleged Airbus bribes
German Efromovich, the majority shareholder in Latin American airline Avianca , said on Wednesday he does not have any knowledge of widespread bribes allegedly paid by European manufacturer Airbus .
