U.S. services sector growth accelerates; private payrolls rise solidly
U.S. services sector activity jumped to a one-year high in February, suggesting strength in the economy before a recent escalation of recession fears ignited by the coronavirus epidemic that prompted an emergency interest rate cut from the Federal Rese…
World stocks rally as Biden surge offsets coronavirus fears
The dollar and world equity markets rose on Wednesday as investors were cheered by a strong showing by Joe Biden in the U.S. Democratic presidential primaries, though an economy-weakening coronavirus outbreak kept investors on tenterhooks, with bond yi…
Fragile safety net leaves U.S. economy vulnerable to coronavirus hit
((This March 4 story corrects attribution of survey cited in paragraph nine to Prudential Financial))
GE says coronavirus will hit first-quarter cash flow, sticks to full-year forecast
General Electric Co predicted on Wednesday that the coronavirus would wipe out a substantial chunk of industrial free cash flow in the first quarter, but stuck to full-year financial targets the company set in January.GE predicted that the outbreak wo…
Fiat Chrysler’s U.S. sales chief Reid Bigland who sued company steps down
Fiat Chrysler Automobiles said on Wednesday its U.S. sales chief, Reid Bigland, is leaving the company to pursue other interests.
IMF chief says coronavirus wipes out hopes for faster growth in 2020
The faster spread of the coronavirus will wipe out any hope of stronger growth in 2020, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday, adding that a third of the Fund’s 189 member countries were now affected.
Top French court deals blow to Uber by giving driver ’employee’ status
France’s top court has recognized the right of an Uber driver to be considered an employee, a ruling that could upend the U.S. firm’s business model and potentially require it to pay more taxes and benefits such as paid holidays.
Wall Street jumps after Biden’s Super Tuesday surge
Healthcare stocks boosted Wall Street on Wednesday after a near sweep for Joe Biden in the Super Tuesday Democratic primaries, a day after markets suffered heavy losses following an emergency interest rate cut by the Federal Reserve.
Next Bank of England governor Bailey tells UK firms to expect coronavirus help
Andrew Bailey, who is due to become Bank of England governor this month with Britain facing an economic hit from coronavirus, said financial support would probably have to be provided for companies struggling with disruption caused by the outbreak.
U.S. service sector races to one-year high in February
U.S. services sector activity accelerated to a one-year high in February, suggesting underlying strength in the economy despite the coronavirus outbreak, which has triggered financial market fears of a recession and led to an emergency interest rate cu…
