Warren Buffett's Berkshire Hathaway Inc said on Wednesday it is selling its newspaper operations to Lee Enterprises Inc , abandoning an industry the billionaire investor had long supported and defended even as its financial prospects deteriorated.
Boeing Co on Wednesday swung to its first annual loss since 1997 on mounting 737 MAX costs and indicated it would again cut production of its bigger 787 Dreamliner aircraft, currently its main source of cash.
The BBC said on Wednesday it will cut around 450 jobs from its news division as part of an 80 million pound savings drive and modernisation programme.
The United States on Wednesday urged Britain to rethink its decision to allow China's Huawei a role in 5G networks, cautioning that American information would only be allowed to pass across trusted networks.
McDonald's Corp beat forecasts with its quarterly sales on Wednesday and said it would spend more on technology and research in 2020, as the world's largest burger chain bets on revamped stores and menu additions to lure more diners and gain market share.
The EU followed Britain's example on Wednesday, allowing members to decide what part China's Huawei Technologies [HWT.UL] can play in its 5G telecoms networks and resisting pressure from Washington for an outright ban.
U.S. stock indexes retreated from early highs on Wednesday as a spate of disappointing earnings reports offset strong gains in Apple and Boeing, while investors assessed the economic impact of the fast-spreading coronavirus outbreak.
The U.S. Federal Reserve will end its latest policy meeting on Wednesday with interest rates likely on hold, adjustments to its balance sheet under discussion, and China's widening coronavirus outbreak posing an unexpected risk to the global economy.
General Electric Co plans to slash 737 MAX engine deliveries to Boeing Co roughly in half this year but set higher cash target for 2020 as it reported quarterly profit and cash flow that beat analysts' estimates on Wednesday.
The BBC said on Wednesday it will axe 450 jobs from its news division in a cost-saving plan that will result in cuts at the World Service and its 5Live radio station and in fewer reports being made by analysis show Newsnight.
Goldman Sachs CEO David Solomon is raising the bar for the bank's medium-term financial targets.
Britain's decision to allow China's Huawei to have a role in its 5G networks does not affect the country's ability to securely share intelligence data, Prime Minister Boris Johnson's spokesman said on Wednesday.
CNBC's Jim Cramer said the success of the new iPhone 11 is proof that Apple is still making desirable products.
Oil prices were mixed on Wednesday as worries about the impact of the coronavirus outbreak on demand were offset by talk that OPEC could extend oil output cuts.
Warren Buffett's Berkshire Hathaway Inc agreed to sell its newspaper business to Lee Enterprises Inc for $140 million in cash, abandoning an industry the billionaire investor had long defended even as its financial prospects deteriorated.