Big tech cos pull out of San Francisco conferences on coronavirus concerns
Verizon Communications Inc has pulled out of the RSA cyber security conference due to coronavirus-related concerns, the organizer said https://www.rsaconference.com/novel-coronavirus-update on Friday.
U.S. SEC probes Altria’s investment in Juul: WSJ
U.S. regulators have opened a probe regarding Marlboro maker Altria Group Inc’s investment in e-cigarette maker Juul Labs Inc, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Coronavirus fears, U.S. business data drag down Wall Street
U.S. stocks sold off and the Nasdaq had its worst daily percentage decline in about three weeks on Friday as a spike in new coronavirus cases and data showing a stall in U.S. business activity in February fueled investors’ fears about economic growth.
Wells Fargo to pay $3 billion to U.S. authorities to resolve probe into fake accounts
Wells Fargo & Co and one of its units will pay $3 billion to resolve criminal and civil probes into years of fraudulent sales practices, U.S. authorities said on Friday, wrapping up one of the last one major investigations looming over the bank.
Federal prosecutors investigating whether Boeing pilot knowingly lied to FAA: NYT
Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York Times reported https://www.nytimes.com/2020/02/2…
In next downturn, Fed may opt for quick, strong action
In the next economic downturn, the Federal Reserve and other central banks may need to roll out their big guns sooner and use them more aggressively, or risk getting mired in growth-sapping deflation or worse.
U.S. watchdog proposes national standard for disclosing expired debt
The U.S. consumer watchdog on Friday proposed establishing a national standard for how debt collectors must inform borrowers when they cannot be sued for expired debt.
Deere’s shares hit all-time high on unexpected rise in quarterly profit
Deere & Co’s shares hit an all-time high on Friday after the company reported an unexpected increase in first-quarter profit, but the world’s largest farm equipment maker warned the outbreak of coronavirus would hit sales and earnings in the second quarter.
Oil slides 1% on renewed fears over toll from coronavirus
Oil prices fell about 1% on Friday on renewed concerns about crude demand being pinched by the economic impact of the coronavirus outbreak, while OPEC and allied producers appeared to be in no rush to curb output.
UniCredit may make announcement soon on CEO Mustier’s future: sources
Italy’s biggest bank UniCredit may make an announcement as early as Friday night on the future of boss Jean Pierre Mustier, two sources familiar with the matter said, after reports he is vying for the top job at rival HSBC .
