U.S. consumer spending slowed in January and could lose further momentum as the fast-spreading coronavirus outbreak, which has sparked a stock market sell-off and revived fears of a recession, causes households to tighten their purse strings.
Wall Street's main indexes tumbled for the seventh straight day and were on track for their biggest weekly dip since the 2008 global financial crisis on worries the fast-spreading coronavirus could lead to a recession.
Coronavirus panic sent world stock markets tumbling again on Friday, putting 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.
Wall Street's worst week since 2008, sparked by fears about the fast-spreading coronavirus, has left almost half of the S&P 500's stocks in bear market territory, just nine days after the leading benchmark closed at a record high.
Bernard Madoff's former customers will soon see their total recovery approach $14 billion, a court-appointed trustee said on Friday, as the dying swindler awaits a decision on whether the U.S. government will support his request to leave prison early.
Volkswagen e una delle maggiori organizzazioni tedesche di consumatori hanno annunciato di aver raggiunto un accordo da 830 milioni di euro nell'ambito della class action per i test sulle emissioni diesel truccati.
Three former Barclays executives were unanimously acquitted on Friday of charges they helped funnel 322 million pounds ($418 million) in secret fees to Qatar in return for rescue financing during the credit crisis.
European airlines stepped up their warnings over the coronavirus outbreak on Friday, with British Airways-owner IAG and Finnair flagging a hit to profits and easyJet reporting a big drop in demand into and out of a virus-affected region in Italy.
Kuwait will check visiting ships for the new coronavirus before allowing them to dock and require crew members to stay on board as part of measures to prevent the spread of the disease, state news agency KUNA said.
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.
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.
Goldman Sachs expects the coronavirus to drive the Federal Reserve to cut U.S. interest rates by 75 basis points by June it said on Friday, implying as many as three cuts starting at its next meeting in March.