International financial news | GC Pelliron
Global automotive production may have peaked, auto supplier Robert Bosch said on Wednesday, announcing job cuts and a review of its business to cope with a 44% drop in full-year operating profit and a downturn in demand for cars.
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.
Apple said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Starbucks warned results would be hit after it shut over half its cafes in the country.
Global markets showed further signs of stabilization on Wednesday as investors looked past a rising death toll from China's coronavirus outbreak to tiptoe back into shares and out of safe-haven assets such as the yen and German bonds.
The chief executive of Robert Bosch, the world's biggest auto components supplier, warned that coronavirus could impact its global supply chain, which is heavily dependent on China.
U.S. House Democrats on Wednesday will unveil a proposed $760 billion infrastructure spending bill over five years that aims to rebuild sagging roads and bridges and reduce carbon pollution.
Ford Motor plans to resume production on Feb. 10 at its manufacturing facilities in China with joint venture partner Chongqing Changan Automobile , a spokesman for the U.S. automaker said on Wednesday.
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.
Six months after Unilever's Alan Jope suggested he may get rid of brands without "purpose", investors are wondering when he will deliver.
China's growth has helped power a global aviation boom over the last decade, but as the country curtails travel in the face of a new coronavirus, a slowdown could hit the industry harder than ever before.
U.S. President Donald Trump will sign a new North American trade agreement on Wednesday in an outdoor ceremony at the White House to be attended by about 400 guests - but not the key Democrats who helped secure congressional passage of the deal.