Boeing Co expects nearly $19 billion in costs related to the grounding of its 737 MAX jets, the U.S. planemaker said on Wednesday as it swung to its first annual loss since 1997 and indicated it would again cut production of its bigger 787 Dreamliner aircraft.
OxyContin maker Purdue Pharma LP and its controlling Sackler family have been negotiating with cities, counties and states on a proposed settlement worth an estimated $10 billion to resolve more than 2,600 lawsuits alleging they helped fuel the U.S. opioid crisis.
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout, on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand and data showing a decline in U.S. stockpiles.
McDonald's Corp on Wednesday reported quarterly comparable sales growth and profit above market expectations, as the world's largest burger chain benefited from its revamped stores, new delivery partnerships and higher menu prices.
General Electric Co on Wednesday reported quarterly profit and cash flow that exceeded analysts' estimates, boosted by its aviation unit, but it set a low profit target for 2020.
Boeing Co said on Wednesday it expects more than $18 billion in costs related to the grounding of its 737 MAX jets, and indicated it would cut production of its bigger 787 Dreamliner aircraft.
Huawei [HWT.UL], the leading maker of telecoms network equipment, denied a newspaper report on Wednesday that alleged the German government was in possession of evidence that it had cooperated with Chinese intelligence.
Global markets showed more signs of stabilisation on Wednesday as investors looked past China's coronavirus outbreak and moved back into shares from safe-haven assets such as the yen and German bonds.
Victoria's Secret-owner L Brands Chief Executive Officer Leslie Wexner is in talks to step aside from the role and is exploring strategic alternatives for the lingerie brand, the Wall street Journal reported on Wednesday.
The German government is in possession of evidence that Huawei [HWT.UL], the leading maker of telecoms network equipment, has collaborated with Chinese intelligence, the Handelsblatt daily reported on Wednesday.
Chemicals maker Dow Inc reported better-than-expected quarterly profit and revenue on Wednesday, helped by higher volumes in Asia as well as cost cuts, and pointed to a recovery in demand this year on the back of easing trade tensions.
General Electric Co on Wednesday reported a 30% jump in quarterly profit, boosted by its aviation business, but forecast 2020 profit below estimates.
Apple said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Starbucks warned results would be hit after it shut over half its cafes in the country.
Global automotive production may have peaked, auto supplier Robert Bosch said on Wednesday, announcing job cuts and a review of its business to cope with a 44% drop in full-year operating profit and a downturn in demand for cars.
The chief executive of Robert Bosch, the world's biggest auto components supplier, warned that coronavirus could impact its global supply chain, which is heavily dependent on China.