A federal judge in Texas on Tuesday rejected Chinese telecommunications equipment maker Huawei Technologies' constitutional challenge to a U.S. law that restricted its ability to do business with federal agencies and their contractors.
U.S. prosecutors overlooked apparent violations of U.S. sanctions against Iran by HSBC Holdings in exchange for the British bank's cooperation with a government investigation of Huawei Technologies, lawyers for the Chinese telecoms giant said.
HSBC could be forced to take $600 million in additional provisions against loan losses if the Coronavirus outbreak persists into the second half of this year, Chief Financial Officer Ewan Stevenson said on Tuesday.
HSBC Holdings PLC said on Tuesday it would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years.
Shares of Apple Inc fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower, after the iPhone maker warned of lower sales in the current quarter acknowledging that the coronavirus outbreak was pressuring its supply chain.
Shares of Alstom SA and Montreal-based Bombardier Inc fell on Tuesday after the French firm agreed to buy its Canadian rival's rail division for up to 6.2 billion euros ($6.7 billion), a deal likely to draw scrutiny from competition regulators and unions concerned about job cuts.
Gold rose and global equity markets slid on Tuesday after Apple Inc said it was unlikely to meet its sales guidance because of the coronavirus outbreak in China, a warning highlighting the epidemic's threat to global growth and corporate profits.
U.S. President Donald Trump on Tuesday blasted proposals that could hinder U.S. companies from supplying jet engines and other components to China's aviation industry and said he had instructed his administration to prevent such moves.
Virgin Galactic Holdings Inc shares surged 24% on Tuesday, extending a rally since early December to over 400% and evoking a warning from an analyst who likes the space tourism company but warns it has become overbought.
Walmart Inc on Tuesday forecast online sales growth to slow this year after posting lower-than-expected holiday quarter results, revealing the pressure traditional retailers are facing to keep pace with consumers who are increasingly shopping online.
The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies [HWT.UL] from companies such as Taiwan's TSMC , the world's largest contract chipmaker, two sources familiar with the matter said.
Vodafone and Telecom Italia (TIM) have offered to give rivals access to some of their infrastructure for up to nine years to allay EU antitrust concerns over plans to merge their tower units, according to a document seen by Reuters.
Jaguar Land Rover (JLR) has flown Chinese parts in suitcases to Britain to maintain production and could run out after two weeks as the impact of the coronavirus outbreak hits firms across countries and industries.
As investors crunch numbers to determine how the coronavirus will hit China’s economy, hedge fund manager Nathaniel Polachek has tied much of his outlook to the fate of a ship anchored near Weihai, China.
When Kristin and Thomas Schmitt took out a mortgage and bought a house last summer, the German couple's dream looked as if it was coming true. Two months later, they learned that the tire factory where both work would be shut down early next year.