Stock markets around the world scaled fresh records after China reported the lowest number of new coronavirus cases since late January, boosting investor hopes the epidemic will be contained and driving up the price of crude oil and other commodities.
French train maker Alstom's board will meet on Wednesday evening to decide on a possible offer for the rail business of Canada's Bombardier , a source familiar with the situation told Reuters.
Shareholder activists focused on climate issues vowed to press proxy battles with JPMorgan Chase & Co after getting a cold reception from the top Wall Street bank, even though Chief Executive Jamie Dimon has vowed to protect the environment.
SoftBank CEO Masayoshi Son threw cold water on Wednesday on the idea of cutting his firm's $150 billion stake in e-commerce giant Alibaba , after prominent activist investor Elliott Management called for big buybacks.
The S&P 500 and Dow Jones Industrials hit all-time highs on Wednesday as investors drew comfort from a drop in the number of new cases of coronavirus infections in China.
Spanish health officials said on Wednesday there was no reason to cancel the Mobile World Congress in Barcelona over coronavirus fears, despite major companies pulling out of the event.
The global air cargo industry is unlikely to grow this year because of the challenges in the China market due to the coronavirus, a senior executive at Boeing Co said on Wednesday.
BP plans deep cuts to its carbon emissions by 2050, setting one of the oil sector's most ambitious targets, as part of the biggest overhaul in the company's 111-year history by new chief executive Bernard Looney.
PVH Corp said on Wednesday it had temporarily closed majority of its Calvin Klein and Tommy Hilfiger stores in China due to the coronavirus outbreak.
French telecoms group Orange has also decided to pull out of the Mobile World Congress telecoms event in Barcelona due to concerns over the coronavirus, said a source close to the matter on Wednesday.
Britain's biggest telecoms group BT said on Wednesday it was pulling out of the Mobile World Congress in Barcelona because of the coronavirus outbreak.
The organizers of the Mobile World Congress (MWC) said on Wednesday they were monitoring "the fast-changing" development of the coronavirus, in a statement issued after sources said the event in Barcelona was likely to be called off.
Telecoms industry lobby GSMA will hold a virtual board meeting on Wednesday to discuss a major conference later this month which is looking increasingly threatened by fears of coronavirus, a person with knowledge of the matter said.
Vodafone , the world's second largest mobile operator, said it was pulling out of Barcelona's Mobile World Congress because of the coronavirus outbreak, joining an exodus of major European players on Wednesday.
French train maker Alstom's board will meet on Wednesday evening to decide on a possible offer for the rail business of Canada's Bombardier , a source familiar with the situation told Reuters.