McDonald’s sees 2020 spending on tech after sales beat; breakfast competition looms
McDonald’s Corp beat quarterly sales forecasts on Wednesday and said it would spend more on technology and research in 2020, as the world’s largest burger chain bets on revamped stores and menu additions to lure diners and gain market share.
Goldman Sachs sets growth targets but urges investor patience
Goldman Sachs Group Inc on Wednesday set targets to grow its fledgling consumer unit and transaction banking business while improving efficiency and returns to shareholders, but urged patience at its first-ever investor day presentation.
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 dampened investor enthusiasm, keeping a safe-haven bid in gold and the dollar alive.
Oil mixed as virus fears offset by talk of OPEC cut extension
Oil was mixed on Wednesday as worries about the impact of the coronavirus outbreak and swelling crude inventories in the United States weighed on prices, while talk that OPEC could extend oil output cuts provided support.
Wall St off early highs as weak earnings, coronavirus concerns weigh
U.S. stock indexes retreated from early highs on Wednesday as a spate of disappointing earnings reports offset strong gains in Apple and Boeing, while investors assessed the economic impact of the fast-spreading coronavirus outbreak.
Fed likely to keep interest rates on hold as coronavirus worries grow
The U.S. Federal Reserve will end its latest policy meeting on Wednesday with interest rates likely on hold, adjustments to its balance sheet under discussion, and China’s widening coronavirus outbreak posing an unexpected risk to the global economy.
GE to halve 737 MAX engine deliveries but raises cash target
General Electric Co plans to slash 737 MAX engine deliveries to Boeing Co roughly in half this year but set higher cash target for 2020 as it reported quarterly profit and cash flow that beat analysts’ estimates on Wednesday.
Britain’s BBC to axe 450 newsroom jobs in cost-cutting drive
The BBC said on Wednesday it will axe 450 jobs from its news division in a cost-saving plan that will result in cuts at the World Service and its 5Live radio station and in fewer reports being made by analysis show Newsnight.
UK’s Huawei decision will not affect intelligence-sharing: PM’s spokesman
Britain’s decision to allow China’s Huawei to have a role in its 5G networks does not affect the country’s ability to securely share intelligence data, Prime Minister Boris Johnson’s spokesman said on Wednesday.
Oil mixed amid virus fears and talk of OPEC cut extension
Oil prices were mixed on Wednesday as worries about the impact of the coronavirus outbreak on demand were offset by talk that OPEC could extend oil output cuts.
