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USTR vows to push for trade deals with Britain, EU; seeks reforms at WTO
The Trump administration on Friday said it would focus on concluding new trade agreements with Britain, the European Union and Kenya over the coming year, while strictly enforcing trade laws and pushing for reforms of the World Trade Organization.
Harley-Davidson looks for new leadership to end its sales struggle
Harley-Davidson Inc on Friday named a board member hailed for turning around the Puma brand's near-bankrupt business as its interim chief as the motorcycle maker gropes for an effective strategy to woo young customers and revive sales.
Elliott built a stake in Twitter, is pushing for changes: sources
Activist hedge fund Elliott Management, which often pushes technology companies to improve operations, has built a stake in Twitter Inc and is pushing for changes, including removing the chief executive officer, two people familiar with the matter said on Friday.
Wall Street Weekahead: Main Street leans toward Sanders, but Wall Street says Trump
Vermont Senator Bernie Sanders may be surging in the polls ahead of Super Tuesday, but some on Wall Street have made their own conclusions on what November will bring: four more years of President Donald Trump.
UBS CEO's pay slips to $1 million a month as Swiss bank's top bosses pocket $113 million
UBS Chief Executive Sergio Ermotti, one of Europe's best paid bankers, earned 12.5 million francs in 2019, down from 14.1 million in 2018 after the bank was hit with a multi-billion-euro court case and it missed earnings goals.
Sanofi to pay $11.9 million to resolve U.S. drug charity kickback probe
Sanofi SA has agreed to pay $11.85 million to resolve U.S. allegations that it used a charity that helps cover Medicare patients' out-of-pocket drug costs as a means to pay them kickbacks to use a high-priced multiple sclerosis drug.
S&P falls for seventh day, suffers biggest weekly plunge since 2008 crisis
The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could push the economy into recession, although stocks regained some ground right at the end of a volatile session.
Wall Street in coronavirus contingency mode with staff, visitors, regulators
Big U.S. banks have been rolling out contingency plans to respond to the global coronavirus outbreak - requiring some staff to work from home, implementing travel restrictions, and talking to regulators about potential stresses.
United Airlines sharply cuts flights to Asia, cancels investor day
United Airlines Holdings Inc said on Friday it was sharply cutting flights to Japan and South Korea, as travelers worried about the coronavirus outbreak slash ticket purchases for those destinations.
Intesa, UBI line up advisers to face off in takeover battle
Intesa Sanpaolo said on Friday it had hired JP Morgan, Morgan Stanley, UBS and local broker Equita SIM to complete a team of advisers led by Mediobanca supporting Italy's biggest retail bank in its takeover offer of rival UBI Banca.
Wall Street bounce too little, too late as world stocks post shock weekly decline
Coronavirus panic sent world stock markets tumbling again on Friday, with an index of global stocks setting its largest weekly fall since the 2008 global financial crisis, and over $5 trillion wiped from global market value this week.
Goldman Sachs Asset Management added to stocks portfolio as markets tumbled
Portfolio managers at Goldman Sachs Asset Management have used the recent selloff in global stocks caused by the coronavirus as an opportunity to take positions in a range of companies focusing on everything from concerts to cosmetics.
U.S. moves high-level U.S. meeting on China tech, possible new Huawei curbs to March: sources
Trump administration officials have rescheduled for March 11 a critical meeting to discuss potential new U.S. restrictions on sales of technology to Huawei and China, people familiar with the matter said.
Coronavirus outbreak rains on dealmakers' M&A parade
The steep market drop triggered by the global coronavirus outbreak has led many companies to hit the 'pause' button on mergers and acquisitions (M&A), sabotaging the hopes of corporate advisers who expected a dealmaking bonanza this year.
Fasten your seat belts, U.S. Congress sets hearing on air travel
The airline industry could run into turbulence on Capitol Hill next week as a U.S. Congressional panel tackles passenger complaints about unpleasant airline experiences, holding a hearing that will include budget airline Spirit Airlines Inc and passenger advocates.
Citron's Andrew Left closes Wayfair short bet after long wait
This week's sharp stock sell-off helped activist short-seller Andrew Left profitably close a long-held bet against online retailer Wayfair on Friday.
Central banks may mount a coronavirus rescue. It may not be enough
Cratering markets are pushing global central banks to the point they all warned against and worried about, of an evolving global economic shock hitting at a time when their capacity to respond in force is in doubt even as investors hound them for action.
Factbox: Global central bankers on coronavirus, possibility of rate cuts
With the rapid global spread of the new coronavirus and the U.S. stock market suffering its worst week since the Great Recession, central bankers around the world are under rising pressure to reduce borrowing costs to create a cushion against economic harm. So far they have largely resisted. Following are some of their recent remarks:
Corona beer maker says U.S. sales remain strong despite virus outbreak
Corona beer maker Constellation Brands Inc said on Friday sales of its Corona Extra beer remained strong in the United States in the four weeks to Feb. 16, amid the rapid global spread of the coronavirus.
Oil prices sink to lowest in over a year, biggest weekly drop since 2016
Oil prices slumped for a sixth day in a row on Friday to their lowest in more than a year, causing futures to drop by the most in a week since 2016, as the spread of coronavirus stoked fears that a slowing global economy would hit energy demand.
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