Nasdaq opens at record high on private jobs data, virus treatment talks
Nasdaq hit a record high at the open on Wednesday following a strong monthly domestic private jobs data and on reports of treatments to fight the fast-spreading coronavirus.
GM forecasts flat 2020 profit after a rough 2019; shares gain
General Motors Co on Wednesday forecast flat profits for 2020 and reported a better-than-expected fourth quarter result as it kicked off a new effort to win over investors stampeding into shares of electric car rival Tesla Inc .
U.S. trade deficit shrinks in 2019 for first time in six years
The U.S. trade deficit fell for the first time in six years in 2019 as the White House’s trade war with China curbed the import bill, keeping the economy on a moderate growth path despite a slowdown in consumer spending and weak business investment.
European nail care demand drives Coty’s profit beat; shares jump 10%
Coty Inc beat Wall Street estimates for quarterly profit and revenue on Wednesday as it sold more nail care products to salons and beauty professionals in Europe, sending its shares up 10% in premarket trading.
Qatar Airways swoops for RwandAir stake and eyes bigger LATAM holding
Qatar Airways is in talks to buy a 49% stake in Africa’s RwandAir and is interested in doubling its holding in LATAM Airlines Group to 20%, its chief executive said on Wednesday.
Adidas closes “considerable” number of stores in China due to coronavirus
German sportswear company Adidas on Wednesday said it was temporarily shutting a “considerable” number of its stores in China due to the coronavirus outbreak.
Ford shares fall 8% after disappointing 2020 profit outlook
Shares of Ford Motor Co fell nearly 8% on Wednesday, a day after the automaker forecast a lower profit for 2020, surprising analysts who also criticized the company’s management for holding back details on the earnings shortfall.
Futures jump on reports of coronavirus treatment breakthroughs
U.S. stock index futures surged on Wednesday on reports of medical breakthroughs in the fight against the fast-spreading coronavirus and expectations of more stimulus from China to limit the economic fallout of the epidemic.
Stimulus hope, virus containment steps fuel renewed equity surge
Expectations of more central bank stimulus lifted world stocks to their highest in more than a week on Wednesday, helping investors look past a mounting coronavirus death toll and policymakers’ concerns for the disease’s economic impact.
Exclusive: HSBC to axe senior managers in strategy shift – sources
HSBC is set to unveil a new round of job cuts targeting senior international managers and reduce its presence in some smaller markets as part of a wider strategy overhaul, people with knowledge of the matter told Reuters.
