U.S. fourth-quarter unit labor costs, productivity revised down
U.S. unit labor costs grew much slower than initially thought in the fourth quarter and were soft in 2019, suggesting inflation could remain tame despite tightening labor market conditions.
U.S. weekly jobless claims fall; labor market weathering coronavirus for now
The number of Americans filing for unemployment benefits fell last week, suggesting the labor market was on solid footing despite the coronavirus outbreak, which has stoked financial market fears of a recession and prompted an emergency interest rate c…
U.S. factory orders fall more than expected in January
New orders for U.S.-made goods fell more than expected in January and could drop further as a worldwide coronavirus outbreak strains supply chains and undercuts the manufacturing sector, which had recently shown signs of stabilizing after a prolonged s…
Wall Street tumbles as virus fears hit California
U.S. stock indexes fell sharply on Thursday as the swift spread of the coronavirus in the United States led California to declare an emergency, while airline stocks were hammered by crippled travel demand.
Exxon CEO sticks to big spending plan despite weak stock performance
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil Corp said on Thursday it would stick to its plans to “lean in” to spending even as its shares have lagged those of competitors, which are cutting c…
HP rejects Xerox’s raised takeover offer of $35 billion
HP Inc on Thursday rejected Xerox Holdings Corp’s raised takeover bid of about $35 billion, saying it undervalued the personal computer maker.
Amazon, Facebook ask Seattle employees to work from home over coronavirus fears
Amazon.com Inc and Facebook Inc on Thursday joined Microsoft Corp in recommending employees in the Seattle area to work from home after several people in the region were infected with the coronavirus.
Oil falls, OPEC backs deeper supply cuts
Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could not immediately secure Russian support for the decision.
Lufthansa suspends 7,100 flights in March, including to Israel
German airline group Lufthansa said on Thursday it is cancelling about 7,100 flights up to the end of March due to lower demand and the spread of coronavirus.
Russia’s Aeroflot to suspend Hong Kong flights amid coronavirus fears: Interfax
Russia’s state carrier Aeroflot said on Thursday it would suspend its flights to and from Hong Kong amid fears over coronavirus.
