Facebook just beats estimates for daily active users, costs rise
Facebook Inc just beat analysts’ estimates for daily active users on Wednesday, as the world’s largest social network faced fierce competition for users’ screen time from a slew of entertainment apps like TikTok and Netflix.
PayPal posts 13% fall in quarterly profit
PayPal Holdings Inc reported a 13% fall in fourth-quarter profit on Wednesday, as it spent more on acquisitions and technology.
UPS teams with Arrival and Waymo in electric, self-driving push
United Parcel Service Inc on Wednesday said it is ordering 10,000 electric delivery trucks from the UK-based Arrival Ltd and teaming with self-driving startup Waymo as package carriers work to cut costs and tail pipe pollution.
Microsoft beats second-quarter revenue estimates
Microsoft Corp beat analysts’ estimates for quarterly revenue on Wednesday, supported by another strong performance from its flagship cloud computing platform, Azure.
Google temporarily shutting down all China offices
Alphabet Inc’s Google said on Wednesday it is temporarily shutting down all its offices in China due to the outbreak of a new coronavirus in the country.
Lyft cuts 2% jobs on journey to profitability
Lyft Inc said on Wednesday it had cut about 2% of its workforce, or 90 jobs, as the ride-hailing company seeks to achieve its goal of profitability by the end of 2021.
Fed keeps interest rates steady, offers no new balance sheet guidance
The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with the head of the U.S. central bank pointing to continued moderate economic growth and a “strong” job market, and giving no sign of any imminent cha…
Oil mixed as virus fears, U.S. stock build face talk of further OPEC cuts
Oil prices were mixed on Wednesday as worries about the coronavirus outbreak and swelling U.S. crude inventories weighed on prices, counter-balanced by talk that OPEC could extend oil output cuts.
Global stocks gain on solid results, but virus keeps safe-havens alive
Global equity markets edged higher on Wednesday on strong results from Apple and others but concerns about the coronavirus outbreak in China kept a safe-haven bid in gold and the dollar alive.
British Airways, Iberia suspend direct flights to mainland China amid virus fears
British Airways has suspended all direct flights to and from mainland China, one of the biggest names in aviation to do so, as worries grow about the impact of the spreading coronavirus on global travel.
