Top News & Analysis New York City

  • *Global stock markets lose the value of Japan's GDP in a week. NEW YORK, Feb 28- Coronavirus panic sent world stock markets tumbling again on Friday, setting them on course for their largest weekly fall since the 2008 global financial crisis, with over $5 trillion wiped from global market value so far this week. Hopes the epidemic, first detected in China in December,...

  • Feb 28- Autopilot, Super Cruise and Drive Pilot are different names given to technology that automates steering and braking in a growing number of vehicles, but none of it can safely "pilot" cars without regular human intervention. That may be especially true in the United States, where the National Transportation Safety Board chided regulators this week for...

  • Feb 28- Gary Ginsberg, the global head of communications for SoftBank Group Corp, has taken an indefinite leave of absence to advise Michael Bloomberg's U.S. presidential campaign, people familiar with the matter said on Friday. His move comes as the Japanese conglomerate is battling to reset its image with the business community, so it can attract investors for...

  • More than a decade later, Jenkins and former Barclays colleagues Richard Boath and Tom Kalaris, were unanimously acquitted by a jury on Friday in a case that revealed how the British banking giant secured a 4 billion pound investment from Qatar. The Gulf state had a reputation as a tough negotiator and in June 2008, Qatar Holding, part of the $300 billion Qatar...

  • NEW YORK, Feb 27- Financial services venture capital firm Anthemis has raised $90 million for a new fund that will invest in fast-growing insurance technology startups, the company said on Thursday. Investors in the Anthemis Insurance Venture Growth Fund I include Aflac Global Ventures, Sumitomo Life and Nürnberger in partnership with Daido Life Insurance...

  • NEW YORK/ WASHINGTON, Feb 27- U.S. stocks plummeted on Thursday as fears about the effect of the coronavirus outbreak on economic growth flared even as U.S. officials pledged that they were stepping up efforts to safeguard Americans from the virus' spread. During an interagency call on Wednesday, officials from Health and Human Services and the Department of...

  • NEW YORK, Feb 27- The Dow industrials posted the largest-ever points drop on Thursday as Wall Street led stocks across the globe lower, with traders fretting over the economic impact of the spreading coronavirus. No country should make the "fatal mistake" of assuming it will be spared the coronavirus, the World Health Organization said, as governments from Iran to...

  • *Wall Street's three major averages confirm corrections. *New infections increase outside China. New York, Feb 27- Wall Street's main indexes plunged on Thursday for the sixth straight session, with the S&P 500 confirming its fastest correction in history as the rapid global spread of coronavirus intensified worries about economic growth.

  • *New infections outside China exceed those inside. NEW YORK, Feb 27- Oil prices tumbled for a fifth day on Thursday to their lowest level in more than a year, as new reports of novel coronavirus cases outside China spurred investor fears that the rapidly spreading outbreak could slow the global economy. Earlier this week, for the first time since the outbreak...

  • NEW YORK, Feb 27- The dollar fell on Thursday as investors bet the Federal Reserve would cut interest rates to offset the impact of the spreading coronavirus, giving the euro its largest daily gain since May 2018. "We're seeing a major reversal of the dollar's fortunes," said John Doyle, vice president of dealing and trading at Tempus, Inc.. Whether or not the dollar...

  • WASHINGTON, Feb 27- President Donald Trump's administration is considering invoking special powers to rapidly expand domestic production of protective masks and clothing to help combat the coronavirus in the United States, two U.S. officials told Reuters. The move would be part of ramped-up efforts by U.S. officials to guard against the virus's spread in the...

  • *New infections outside China exceeds those inside. NEW YORK, Feb 27- Oil prices tumbled for a fifth day on Thursday to their lowest in more than a year, as further novel coronavirus cases outside China fanned fears that a pandemic could slow the global economy and erode demand for crude. For the first time since the outbreak erupted, the number of new coronavirus...

  • *New infections increase outside China. New York, Feb 27- Wall Street's main indexes tumbled for the sixth straight session on Thursday with the S&P 500 on track for its fastest correction in history as the global spread of coronavirus intensified investor uncertainty about the economic impact. All three major U.S. indexes were set for their steepest weekly...

  • WASHINGTON, Feb 27- The U.S. Department of Transportation supports the rehabilitation of a century-old New York City- area rail tunnel that was damaged in 2012 when Hurricane Sandy flooded parts of the city, Transportation Secretary Elaine Chao told lawmakers on Thursday. The Trump administration and Democrats in Congress have been at odds over whether the...

  • Feb 27- The number of new coronavirus infections inside China- the source of the outbreak- was for the first time overtaken by fresh cases elsewhere on Wednesday, with Italy and Iran emerging as epicenters of the rapidly spreading illness. *Italy has reported more than 400 cases, centered on the industrial heartlands of Lombardy and Veneto. *Brazil confirmed Latin...

  • *Talks with banks over $5.7 billion of loans ongoing. OSLO, Feb 27- Offshore drilling firm Seadrill said on Thursday the recent recovery of rig markets had slowed at the start of 2020, and that discussions with creditors on how to handle its massive debts would continue. The company booked $39 million in adjusted earnings before interest, tax, depreciation and...

  • OSLO, Feb 27- Offshore drilling firm Seadrill said on Thursday the recent recovery of rig markets had slowed at the start of 2020, and that discussions with creditors on how to handle its massive debts would continue. The company booked $39 million in adjusted earnings before interest, tax, depreciation and amortisation for the fourth quarter, in line with its...

  • SHANGHAI/ HONG KONG, Feb 27- A surge in small-cap Chinese stocks, fueled by government stimulus measures to support the virus-hit economy, is triggering fears of a repeat of the boom that preceded the 2015 market crash. China has injected massive funds into the banking system, cut interest rates and encouraged lenders to extend cheap loans to limit the financial...

  • Feb 27- The number of new coronavirus infections inside China- the source of the outbreak- was for the first time overtaken by fresh cases elsewhere on Wednesday, with Italy and Iran emerging as epicenters of the rapidly spreading illness. *Italy has reported more than 400 cases, centered on the industrial heartlands of Lombardy and Veneto. *China said the number of...

  • WASHINGTON/ NEW YORK, Feb 26- President Donald Trump told Americans on Wednesday that the risk from coronavirus remained "very low," and placed Vice President Mike Pence in charge of the U.S. response to the looming global health crisis. The Centers for Disease Control and Prevention confirmed an infection of the new coronavirus in California in someone who had...