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.
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.
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.
Goldman Sachs Group Inc's asset management unit has added to positions in travel stocks, including hotels and cruise lines, as well as Live Nation Entertainment Inc and Japanese cosmetics company Shiseido Co Ltd, executives said Friday.
The coronavirus wiped $3.18 trillion in market value from U.S. stocks this week, according to estimates from S&P Dow Jones Indices.
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.
Activist investor Clifton S. Robbins told clients on Friday that he is shuttering his Blue Harbour Group not because investors want their money back or because returns have lagged, but because he wants to do something different.
Harley-Davidson Inc Chief Executive Officer Matthew Levatich stepped down on Friday after failing to boost U.S. sales of its iconic motorcycles.
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 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.
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.
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.
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.
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.
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.