South African Airways cancels flights in fight for survival

South African Airways cancels flights in fight for survival

South African Airways has canceled some domestic and international flights as the cash-strapped carrier fights for survival.
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Wells Fargo to pay $3 bln for fake accounts

Wells Fargo to pay $3 bln for fake accounts

Wells Fargo reached a settlement Friday for a massive fake account scandal, in which it admitted to guilt and agreed to pay $3 billion to the Justice Department and Securities and Exchange Commission. Conway G. Gittens details the official announcem
Wall St. dragged by coronavirus fears, business data

Wall St. dragged by coronavirus fears, business data

U.S. stocks tumbled on Friday after a spike in the number of coronavirus cases and new data that suggested the outbreak is harming the U.S. economy. Conway G. Gittens has the market recap.
Week ahead: falling bond yields, coronavirus fears, retail results

Week ahead: falling bond yields, coronavirus fears, retail results

Key events to watch next week include low bond yields and how much further they fall as coronavirus fears rise, holiday-quarter sales from Home Depot and Macy's, as well as the final read on fourth-quarter GDP. Conway G. Gittens has the look ahead.
Pare back growth stocks: advisor

Pare back growth stocks: advisor

Mercadien Asset Management president Ken Kamen says investors should pare back on holdings of growth stocks, especially tech, due to high valuations and exposure to the coronavirus outbreak.
Philip Morris' campaign to "normalize" IQOS

Philip Morris' campaign to "normalize" IQOS

A Stanford study found that Philip Morris' marketing of its IQOS tobacco device continues to stray substantially from its corporate standards on youth-oriented marketing.
Branson says new Virgin cruise line will overcome coronavirus fears

Branson says new Virgin cruise line will overcome coronavirus fears

British entrepreneur Richard Branson heralded his first cruise ship "Scarlet Lady" on Friday as targeting a younger generation of holidaymakers with a range of attractions that he believes will outweigh any fears around coronavirus.
Coronavirus set to top agenda at G20 meet

Coronavirus set to top agenda at G20 meet

The impact of the new coronavirus outbreak on global growth will be a key issue at this weekend’s meeting of G20 finance leaders. Ciara Lee reports
Tesla vs Tree Pirates: war over a Berlin forest

Tesla vs Tree Pirates: war over a Berlin forest

Tesla faces a battle with environmentalists over its decision to fell a German forest to make space for its first European factory.
Deere posts profit surprise

Deere posts profit surprise

Deere's quarterly earnings crushed analysts expectations on signs the hard hit farming sector has begun to stabilize.
Asian airlines could lose $27.8bln on coronavirus - IATA

Asian airlines could lose $27.8bln on coronavirus - IATA

Airlines in the Asia-Pacific region stand to lose $27.8 billion of revenue this year as they slash flights due to declining demand as a result of the coronavirus, according to a preliminary estimate from an industry body. Ciara Lee reports
China car sales fall 92% as coronavirus keeps buyers home

China car sales fall 92% as coronavirus keeps buyers home

Auto sales in China, the world's largest market, have slumped as coronavirus fears keep buyers at home.
Baby Yoda toy makes its big debut

Baby Yoda toy makes its big debut

A new Baby Yoda doll, based on The Child character from the Disney+ series 'The Mandalorian,' proved more than ready for its closeup at a New York press event Thursday. Lisa Bernhard has more.
Tech leads Wall St. decline on coronavirus fears

Tech leads Wall St. decline on coronavirus fears

The tech-heavy Nasdaq snapped a three-day winning streak Thursday as stocks fell on worries the coronavirus outbreak is not under control and threatens global economic growth. Conway G. Gittens has the market action.
ViacomCBS posts quarterly loss

ViacomCBS posts quarterly loss

ViacomCBS posted a loss in its first quarterly report since the two companies merged late last year. As Fred Katayama reports, adjusted earnings dropped and widely missed analysts' estimates.
Customer focus boosts shareholder returns: consultant

Customer focus boosts shareholder returns: consultant

When shopping for stocks, investors should consider a company’s focus on customer satisfaction, says Bain & Co.'s Rob Markey. His research found that loyal customers buy more and stay longer, boosting revenue growth and shareholder returns.
L Brands loses iconic CEO, sells major Victoria's Secret stake

L Brands loses iconic CEO, sells major Victoria's Secret stake

Leslie Wexner, the man who transformed Victoria's Secret into a global powerhouse only to see his star dimmed by falling sales and his association with disgraced financier Jeffrey Epstein, is stepping down as the unit of L Brands gets a new majority shareholder. Conway G. Gittens has the details.
Morgan Stanley buys E*Trade for $13 billion

Morgan Stanley buys E*Trade for $13 billion

Morgan Stanley is buying discount brokerage E*Trade Financial for $13 billion in an all-stock deal. As Fred Katayama reports, it's the biggest acquisition by a Wall Street bank since the financial crisis.
EU privacy body warns of risks in Google, Fitbit deal

EU privacy body warns of risks in Google, Fitbit deal

Alphabet Inc-owned Google's $2.1 billion bid for fitness trackers company Fitbit could pose privacy risks, the European Data Protection Board warned on Thursday. Ciara Lee reports
Airlines, shippers count the cost of coronavirus

Airlines, shippers count the cost of coronavirus

From airlines to shipping giants, companies around the world are grappling with falling demand from the coronavirus outbreak. Ciara Lee reports
Kenya's Safaricom will consider Huawei for 5G, despite U.S. concerns

Kenya's Safaricom will consider Huawei for 5G, despite U.S. concerns

Michael Joseph, CEO of East Africa's most profitable company Safaricom, says the telecoms operator will consider Huawei as a vendor for its 5G network despite U.S. pressure elsewhere against using the Chinese company.
Britain's Lloyds hit by bad deeds and bad debts

Britain's Lloyds hit by bad deeds and bad debts

Britain's biggest domestic lender Lloyds Banking Group reported a 26% drop in annual profit on Thursday, hit by increasing bad debts and billions of pounds of customer compensation. Julian Satterthwaite reports
China cuts rates to lift virus-battered economy

China cuts rates to lift virus-battered economy

China has cut rates to help an economy hit by the coronavirus outbreak, but with growth forecast to slump many investors bet there's more stimulus to come.
China stimulus hopes lift Wall Street

China stimulus hopes lift Wall Street

The S&P 500 and Nasdaq notched more record closing highs amid a Wall Street upswing ahead of anticipated Chinese stimulus to limit the economic fallout from the coronavirus outbreak. Conway G. Gittens has the details.
Offset your tech exposure: advisor

Offset your tech exposure: advisor

As tech stocks rocket to record highs, Summit Place Financial Advisors’ Liz Miller says investors should balance their portfolios with consumer staples and CDs.