Where the Purdue Pharma-Sackler legal saga stands
OxyContin maker Purdue Pharma LP and its controlling Sackler family have been negotiating with cities, counties and states on a proposed settlement worth an estimated $10 billion to resolve more than 2,600 lawsuits alleging they helped fuel the U.S. op…
GE profit, cash flow beat estimates on strong aviation business
General Electric Co on Wednesday reported a 30% jump in quarterly profit that beat analysts’ estimates, boosted by its aviation business, but forecast 2020 profit below estimates.
Dow profit beats on Asia demand and cost cuts, sees recovery in 2020
Dow Inc beat Wall Street’s estimates for quarterly profit and revenue on Wednesday, helped by growth in volumes in Asia as well as lower costs, and the chemicals maker pointed to a recovery in demand this year as trade tensions ease.
Germany has proof that Huawei worked with Chinese intelligence: Handelsblatt
The German government is in possession of evidence that Huawei [HWT.UL], the leading maker of telecoms network equipment, has collaborated with Chinese intelligence, the Handelsblatt daily reported on Wednesday.
World may have hit peak car output, says auto-parts supplier Bosch
Global automotive production may have peaked, auto supplier Robert Bosch said on Wednesday, announcing job cuts and a review of its business to cope with a 44% drop in full-year operating profit and a downturn in demand for cars.
Factbox: Apple, Starbucks warn of hit from virus; firms restrict travel, airlines cancel flights
Apple said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Starbucks warned results would be hit after it shut over half its cafes in the country.
Buoyed by company earnings, world markets look past virus death toll
Global markets showed further signs of stabilization on Wednesday as investors looked past a rising death toll from China’s coronavirus outbreak to tiptoe back into shares and out of safe-haven assets such as the yen and German bonds.
Bosch CEO warns coronavirus could hit global auto supply chains
The chief executive of Robert Bosch, the world’s biggest auto components supplier, warned that coronavirus could impact its global supply chain, which is heavily dependent on China.
Ford to resume production at China joint venture with Changan on February 10
Ford Motor plans to resume production on Feb. 10 at its manufacturing facilities in China with joint venture partner Chongqing Changan Automobile , a spokesman for the U.S. automaker said on Wednesday.
Oil rises as markets wait on virus impact, U.S. stocks fall
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.
