Markets down, Facebook cancels show: Virus hits businesses
The spread of the new coronavirus around the world is hitting companies hard as they suspend production, meetings, events and business travel.
Investors shy away from risk as coronavirus rattles markets
LOS ANGELES (AP) — This week’s big sell-off on Wall Street suggests stocks have finally caught up to the bond market, where fear of an economic slowdown has been evident for months.
Stocks go on a wild ride as virus threatens economic damage
NEW YORK (AP) — Stocks took an early nosedive on Wall Street Thursday before recovering much of the ground they lost as investors struggle to anticipate how wide the economic damage from the coronavirus outbreak will be.
US mortgage rates decline; 30-year loan at 3.45%
WASHINGTON (AP) — U.S. long-term mortgage rates declined this week as growing concern over the economic impact of China's viral outbreak spurred a steep downturn in global stock markets.
UK court blocks Heathrow expansion over climate concerns
LONDON (AP) — Heathrow Airport's plans to increase capacity of Europe's biggest travel hub by over 50% were stalled Thursday when a British court said the government failed to consider its commitment to combat climate change when it approved the project.
US economy grew at 2.1% rate in Q4 but virus threat looms
WASHINGTON (AP) — The U.S. economy grew at an annual rate of 2.1% in the final quarter of last year, but damage from the spreading coronavirus is likely depressing growth in the current quarter and for the rest of the year.
US pending home sales climbed 5.2% in January
WASHINGTON (AP) — There was a 5.2% jump in Americans signing contracts to buy homes in January from the previous month as lower mortgage rates and a solid economy are pushing up demand for housing.
Dutch consortium unveils ambitious 'green' hydrogen plan
THE HAGUE, Netherlands (AP) — A Dutch consortium announced an ambitious plan Thursday to create “green” hydrogen using power from a huge offshore wind farm that has yet to be built.
US orders for durable goods slip 0.2% in January
WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods dipped in January, pulled down by decreased demand for cars, auto parts and military aircraft.
World stocks slide on signs virus outbreak is spreading
Global stock markets fell Thursday on concerns that the coronavirus was spreading to more countries, putting further strain on businesses and supply chains across the world.
Venice faces new threat from virus after reeling from floods
VENICE, Italy (AP) — Still reeling from the effects of major flooding just a few months ago, Venice faces a new emergency: the threat of a new virus outbreak across Italy that is worrying international visitors worldwide and hitting the economy hard.
Officials: Chinese industry recovering, more aid coming
BEIJING (AP) — Small, mostly private companies that are the engine of China’s economy are back to operating at one-third of normal levels after anti-virus controls shut factories, shops and restaurants, regulators said Thursday, and they promised more low-cost loans and other aid.
Labor union unveils $150M campaign to help defeat Trump
WASHINGTON (AP) — One of the nation’s largest labor unions is unveiling plans to invest $150 million in a nationwide campaign to help defeat President Donald Trump, a sweeping effort focused on eight battleground states and voters of color who typically don’t vote.
Asian shares slump after Trump announcement on virus plans
Shares fell in Asia on Thursday after President Donald Trump announced the U.S. was stepping up its efforts to combat the virus outbreak that began in China.
Facebook bans ads with false claims about new virus
SAN FRANCISCO (AP) — Facebook said Wednesday that it is banning ads that make false claims about products tied to the new coronavirus.
Delta reduces flights to Korea as virus outbreak spreads
Delta Air Lines is reducing flights to South Korea while Hawaiian Airlines will suspend them entirely, as airlines deal with growing concern about the spread of the new virus beyond China.
Microsoft says virus hurting supply chain more than expected
The virus outbreak in China is hurting Microsoft more than expected, as the company said it won't meet targets that had already factored in the uncertainty.
Bloomberg's online campaign tests Facebook, Twitter rules
Mike Bloomberg’s stockpile of cash, swarm of employees and paid social media influencers are testing the abilities of online platforms -- and his Democratic challengers -- to keep up with an expensive internet campaign.
Satellite almost on empty gets new life after space docking
CAPE CANAVERAL, Fla. (AP) — A communication satellite almost out of fuel has gotten a new life after the first space docking of its kind.
How auto insurers use your nondriving habits to raise prices
You expect your car insurance rates to increase after you buy a new vehicle, cause a crash or add a young driver to your policy. But some insurers jack up prices based on seemingly unrelated data — like your magazine subscriptions or what groceries you buy.
Regulators contesting proposed Wyoming coal mining merger
CHEYENNE, Wyo. (AP) — Federal regulators said Wednesday they are contesting two coal companies' proposed Wyoming operations merger, saying the proposal would stifle competition that has helped keep down prices.
Bayer board chairman steps down amid weedkiller legal battle
FRANKFURT, Germany (AP) — Bayer AG board chairman Werner Wenning is stepping down from his post at the drug and chemical company, which is facing a major legal battle over its Roundup weed killer.
Managing remote workers? It takes more than the latest apps
NEW YORK (AP) — Nicolas Vandenberghe's company has 42 staffers scattered among 36 cities in 15 countries. As technology makes it possible for people to be in constant touch while working remotely, businesses like Chili Piper are becoming the norm.
US new-home sales climbed 7.9% in January
WASHINGTON (AP) — U.S. sales of new homes jumped 7.9% in January to the fastest pace in more than 12 years, a positive sign for economic growth.
Virus outbreak stalks markets as 2020 gains get wiped out
LONDON (AP) — Global shares fell sharply once again Wednesday as fears over the speed of the new coronavirus around the world accentuated.