Oil steadies after multi-day rout over China virus
Oil futures steadied on Tuesday after five days of declines on concerns a virus outbreak in China could dent demand for oil, with some analysts suggesting the falls may be overdone.
Oil futures steadied on Tuesday after five days of declines on concerns a virus outbreak in China could dent demand for oil, with some analysts suggesting the falls may be overdone.
European markets rebounded early on Tuesday after the previous day's thumping, which saw investors worried about the economic fallout from the coronavirus outbreak in China huddle in safe-haven assets.
Renault's board is set to meet early on Tuesday afternoon to discuss naming Luca de Meo, formerly the head of Volkswagen's Seat brand, as its next chief executive, two sources familiar with the matter said.
Goldman Sachs has instructed staff who have been in mainland China to work from home or be out of the office for 14 days since they were last there, according to an internal notice.
Prime Minister Boris Johnson will decide if China's Huawei should have a role in Britain's future 5G mobile network on Tuesday, a choice that risks damaging relations with the United States or China on the eve of Brexit.
Renault's board is set to meet later on Tuesday to approve the nomination of Luca de Meo, the former head of Volkswagen's Seat brand, as its next chief executive, two sources familiar with the matter said.
Oil futures were set for a sixth day of losses as the death toll from a virus in China rose, but the heavy sell-off of recent sessions was curbed by output outages in Libya and OPEC comments designed to calm demand fears.
Pfizer Inc reported a 9% drop in fourth-quarter revenue, hurt by intense competition for its pain treatment Lyrica that lost patent protection last year.
Renault's board is expected to meet later on Tuesday to approve the nomination of Luca de Meo, the former head of Volkswagen's Seat brand, as its next chief executive.
U.S. industrial giant 3M Co reported a 28% fall in quarterly profit on Tuesday due to restructuring and litigation charges and said it would cut 1,500 jobs globally as it looks to reduce costs.
Xerox Holdings Corp , which is locked in a battle to take over HP Inc , posted a fall in quarterly revenue on Tuesday as more businesses digitized their paperwork, hurting demand for printers and photocopiers.
Facebook Inc and other global companies including LG Electronics Inc and HSBC are restricting travel to China, as the death toll from a flu-like virus rose above 100 on Tuesday.
McDonald's Corp will add chicken sandwiches to its breakfast menu at all of its U.S. restaurants, the world's largest burger chain said on Tuesday, to fend off competition from Chick-Fil-A and Popeyes Louisiana Kitchen .
Pfizer Inc posted a quarterly profit on Tuesday that came in below Wall Street estimates, as sales of breast cancer drug Ibrance fell short of expectations.
Prime Minister Boris Johnson on Tuesday granted China's Huawei a limited role in Britain's future 5G mobile network, a choice that risks damaging relations with the United States which fears China could use the company to steal Western secrets.