Fed’s Clarida says too soon to tell coronavirus impact on U.S. economy
The impact of the coronavirus on the U.S. economy would likely need to be “material and persistent” for the central bank to change its outlook, U.S. Federal Reserve Vice Chair Richard Clarida indicated on Tuesday.
Juul under scrutiny by 39 state attorneys general
A group of 39 state attorneys general on Tuesday announced an investigation into Juul Labs Inc’s marketing practices, adding to mounting legal and regulatory problems for the e-cigarette maker over its role in the nation’s youth vaping epidemic.
Facebook would have to pay $3.50 per month to U.S. users for sharing contact info: study
German Facebook users would want the social media platform to pay them about $8 per month for sharing their contact information, while U.S. users would only seek $3.50, according to a study of how people in various countries value their private informa…
Authentic Brands taps former H&M executive to helm Forever 21
Forever 21’s new co-owner Authentic Brands Group said on Tuesday it had appointed former H&M executive Daniel Kulle as the new chief executive officer of the bankrupt apparel retailer.
Coronavirus clouds Apple’s timeline for new iPhones
Travel restrictions to China because of the coronavirus have come just as Apple Inc’s engineers usually jet off to Asia to perfect the production of this fall’s new iPhones, former employees and supply chain experts told Reuters.
Wall Street sell-off deepens as virus spread sends investors fleeing
Wall Street’s three major stock indexes fell almost 2% on Tuesday as the coronavirus spread further around the world and officials described it as “a rapidly escalating epidemic,” a day after the S&P 500 and the Dow Industrials’ biggest daily decline in two years.
Goldman, Citi among banks curbing Italy trips over coronavirus fears – sources
Goldman Sachs, Citigroup Inc, Credit Suisse and other investment banks have curbed trips to Italy amid fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, sources said.
Mallinckrodt agrees to $1.6 bln opioid settlement, unit to seek bankruptcy
Mallinckrodt Plc on Tuesday said it had agreed to a $1.6 billion settlement proposal in which its generic drug business would file bankruptcy in order to resolve thousands of lawsuits alleging it helped fuel the U.S. opioid epidemic.
Airlines should complete inspections on 737 MAX panels before flying: FAA
The Federal Aviation Administration (FAA) on Tuesday proposed that airlines complete inspections on a key component that could make Boeing 737 MAX airplanes vulnerable to lightning strikes and interference from high-power radio frequency transmitters b…
NTSB faults Tesla, U.S. regulators in deadly 2018 Autopilot crash
The chairman of the National Transportation Safety Board on Tuesday criticized Tesla Inc ‘s lack of system safeguards in a fatal Autopilot crash in California in 2018 and U.S. regulators’ “scant oversight.”
