Fed Chair Powell: ‘no reason’ rising wages, job gains can’t continue
Federal Reserve Chair Jerome Powell on Wednesday reiterated his confidence in the U.S. economic outlook, even as he said he expected some drag “soon” from China’s new coronavirus epidemic and called out the threat from income inequality and an expandin…
Boeing sees at least 2 years before 737 MAX output reaches pre-grounding target
Boeing Co Chief Financial Officer Greg Smith said on Wednesday it will take at least a couple of years before the 737 MAX airplane can be produced at the 57-unit monthly rate that Boeing had targeted before the jet was grounded last year.
BP boss Looney sets out to ‘reinvent’ oil giant with zero carbon goal
BP set one of the oil sector’s most ambitious targets for curbing carbon emissions on Wednesday as new chief executive Bernard Looney began the biggest revamp in its 111-year history.
Shopify hits record high on better-than-expected 2020 sales forecast
Canadian e-commerce company Shopify Inc’s full-year revenue forecast above analysts’ estimates and better-than-expected quarterly earnings on higher holiday sales, pushed its shares to a record high on Wednesday.
Boeing sees airline profits hit, stagnant freight due to virus
Airlines are facing a fall in profits as the coronavirus crisis hits passenger demand and prolongs weakness in economically sensitive air freight, planemaker Boeing warned on Wednesday.
Oil rises 3% as demand worries ease amid fewer new coronavirus cases
Oil prices rose 3% on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover.
BP boss Looney ‘reinvents’ oil giant with zero carbon goal
BP plans deep cuts to its carbon emissions by 2050, setting one of the oil sector’s most ambitious targets, as part of the biggest overhaul in the company’s 111-year history by new chief executive Bernard Looney.
New coronavirus: what markets should watch now
World markets started shrugging off the worst of the coronavirus impact last week and stock markets have since reached record highs. China’s announcement that new cases of the so-called COVID-19 detected on Tuesday were at their lowest since Jan 30 has…
Boeing sees at least two years before 737 MAX production rate reaches pre-grounding target
Boeing Co Chief Financial Officer Greg Smith said on Wednesday that it will take at least a couple of years before 737 MAX production rate can reach the 57 units per month that the company was targeting before the airplane was grounded last year.
A stock and a hard place: SoftBank’s $150 billion Alibaba warchest in spotlight
SoftBank CEO Masayoshi Son threw cold water on Wednesday on the idea of cutting his firm’s $150 billion stake in e-commerce giant Alibaba , after prominent activist investor Elliott Management called for big buybacks.
