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Starbucks shuts shops, suspends delivery in China’s Hubei amid virus outbreak

Starbucks has closed all shops and suspended delivery services in China’s Hubei province for the week-long Lunar New Year holiday, where a coronavirus outbreak originated from its capital Wuhan has caused 41 deaths in China.

Trump speaks with British PM Johnson about telecoms security: White House

U.S. President Donald Trump on Friday discussed the security of telecommunications networks with British Prime Minister Boris Johnson, the White House said, as Britain nears a decision on Huawei’s role in the country’s future 5G network.

Fiat Chrysler asks U.S. court to toss out GM racketeering claims: filing

Fiat Chrysler Automobiles NV on Friday urged a federal judge to throw out a General Motors Co’s lawsuit accusing Fiat Chrysler of racketeering and bribing officials of the United Auto Workers union to put GM at a multibillion dollar labor cost disadvantage.

New U.S. curb on Huawei in limbo amid pushback from Pentagon: sources

The U.S. Commerce Department has withdrawn a rule aimed at further reducing sales to China’s Huawei Technologies amid concerns from the Defense Department the move would harm U.S. businesses, people familiar with the matter said.

Wall Street Week Ahead: Hopes are high for tech stock ‘Cadillacs’; so are their prices

Wall Street is betting that the most popular U.S. technology and internet stocks can keep outshining the broader equities market but their latest rally leaves little room for error this earnings season.

Financier doubts add to Boeing’s MAX headaches

To restore faith in the 737 MAX, Boeing needs to prove its flagship jet is not just airworthy but also a safe investment.

FAA tells U.S. airlines it could approve MAX return to service before mid-year -sources

Federal Aviation Administrator Steve Dickson called senior U.S. airline officials on Friday and told them the agency could approve the grounded Boeing 737 MAX’s return to service before mid-year – a faster time frame than the planemaker suggested this week, people briefed on the calls said.

Former top U.S. general Dunford joining Lockheed Martin’s board

The former top U.S. military official, General Joseph Dunford, has been elected to the board of Lockheed Martin Corp , the Pentagon’s largest weapons supplier, the company said on Friday.

Explainer: Bezos allegations put phone hacking technology in the spotlight

Allegations that Amazon.com boss and Washington Post owner Jeff Bezos had his phone hacked by Saudi Crown Prince Mohammed bin Salman have put a spotlight on the security of smartphones and the secretive tools used to hack them.

U.S. Justice Dept. plans to hold meeting to discuss tech industry liability: sources

The U.S. Justice Department is planning to hold a conference to discuss the future of a federal law which largely exempts online platforms from legal liability for the material their users post, sources familiar with the plans said on Friday.

Walmart testing higher minimum wage for some employees

Walmart Inc is testing a higher starting wage for certain newly created jobs in about 500 U.S. stores, as it looks to improve in-store experience for customers amid intense competition.

U.S. bank regulator sharpens teeth on Wells Fargo, surprising critics

Long accused of being too soft, a U.S. bank regulator has surprised its critics with tough treatment of scandal-ridden lender Wells Fargo, culminating on Thursday in more than$58 million in fines against eight former executives at the bank.

Remaining hurdles for scandal-hit Wells Fargo

Wells Fargo & Co and its officials have racked up well over $4 billion (3 billion pounds) in penalties since a sales practices scandal erupted in 2016, and continues to face headwinds.

Bayer faces fourth U.S. Roundup cancer trial in Monsanto’s hometown

Bayer AG is set to face a fourth U.S. jury trial over allegations that its Roundup weed killer causes cancer, with four cancer patients in the hometown of its agricultural subsidiary Monsanto scheduled to begin making their case on Friday.

The S&P 500 has worst day since October as virus fears mount

Wall Street fell in a broad sell-off on Friday, as investors fled equities on growing concerns over the scope of the coronavirus outbreak, capping the S&P 500′s worst week in six months.

Habit Burger Grill plans to offer Impossible plant-based patty

The Habit Restaurants Inc , known as the Habit Burger Grill, plans to put a plant-based meat patty from Impossible Foods Inc on its menu in the second half of this year as a limited-time offering.

Impossible or Beyond: U.S. restaurants find partners to go vegan

The world’s largest burger chain McDonald’s Corp said this month that it would expand its test of a plant-based meat product with Beyond Meat patties in Canada, and other chains also are looking to serve vegan customers.

Boeing delays 777X first flight again due to bad weather

Boeing has postponed again the first flight of its 777X long-haul jetliner that was scheduled to take place on Friday due to inclement weather.

Brent logs worst weekly loss in a year as China virus fears swell

Crude prices sank more than 2% on Friday and Brent logged its biggest weekly decline in more than a year as concerns that a coronavirus will spread farther in China, the world’s second-largest oil consumer, curbing travel and oil demand.

China virus fears spook U.S. shares, oil prices

U.S. shares and crude prices fell sharply on Friday as investors moved into safe-haven assets amid concerns that a spreading virus from China would curb travel and hurt economic demand.

Dollar dips vs yen as investors reach for safe havens on virus scare

The U.S. dollar slipped against the safe-haven Japanese yen on Friday as investors fretted over concerns that a spreading virus from China would curb travel and hurt economic demand.

FAA official tells U.S. airlines MAX could return to service before mid-year: sources

Federal Aviation Administrator Steve Dickson has called senior U.S. airline officials Friday and told them that the agency could approve the grounded Boeing 737 MAX’s return to service before mid-year, people briefed on the calls said Friday.

U.S. Justice Department plans to hold meeting to discuss tech industry liability: sources

The U.S. Justice Department is planning to hold a conference to discuss the future of a current federal law which largely exempts online platforms from legal liability for the material their users post, sources familiar with the plans said on Friday.

Oil drops more than 2%, approaches weekly loss on China virus fears

Crude prices fell more than 2% on Friday and headed for a steep weekly decline over concerns that the coronavirus will spread farther in China, the world’s second-largest oil consumer, curbing travel and oil demand.

Boeing weighing new 787 Dreamliner production cut: sources

Boeing Co is weighing another production cut of its 787 Dreamliner, but may not have to take that step depending on the size and timing of orders from China stemming from a recent U.S. trade agreement, people briefed on the matter said Friday.

Wall Street set for weekly loss on gathering virus fears

Wall Street lost ground on Friday as mounting worries over the scope of the coronavirus outbreak overshadowed positive corporate earnings.

U.S. shares, oil prices slump as China virus fears spread

U.S. shares and crude prices dropped on Friday and 10-year U.S. treasury yields fell to their lowest point in about three months amid concerns that a spreading virus from China would curb travel and hurt economic demand.

Four-comma club: Predicting the next company to join trillion-dollar value elite

The trillion-dollar market cap club expanded last week to a third U.S. company, with Google parent Alphabet Inc topping the lofty valuation mark. Adding the next member, however, is likely to take a while.

Nestle teams up with Canadian plant-based ingredient makers

Food company Nestle SA said on Friday it has teamed up with small Canadian plant-based food ingredient makers Burcon and Merit Functional Foods, the second such supply agreement this month that targets Canadian crops.

U.S. senator slams Tesla’s ‘misleading’ name for Autopilot driver assistance system

A U.S. senator on Friday urged Tesla Inc to rebrand its driver assistance system Autopilot, saying it has “an inherently misleading name” and is subject to potentially dangerous misuse.

Intel’s blockbuster results lift shares to dotcom peak, fire up sector

Intel Corp’s shares hit their highest in nearly two decades on Friday after cloud computing demand fired up the chipmaker’s data center business and allayed concerns of market share loss to rival AMD, lifting stocks across the sector.

Oil drops more than 2%, heads for weekly loss on China virus fears

Crude prices fell more than 2% on Friday, heading toward $60 a barrel and a steep weekly decline over concerns that the coronavirus in the world’s second-largest oil consumer China will spread farther, curbing travel and oil demand.

Wall Street slides on coronavirus fears, Intel limits losses

U.S. stocks fell on Friday amid renewed concerns over the spreading of a coronavirus outbreak from China, offsetting strong gains for Intel.

Bombardier scrambles to craft rail merger with Alstom, Hitachi: sources

Bombardier has approached France’s Alstom and Japan’s Hitachi to find a merger partner for its rail business as it struggles to contain costs that have eaten into margins, sources told Reuters.

New Huawei restriction in limbo after Pentagon disagrees with Commerce approach

The U.S. Commerce Department has put on hold a rule aimed at further reducing sales to China’s Huawei Technologies amid pushback from the Defense Department, people familiar with the matter said.

Tesla touts safeguards as senator urges company to rebrand ‘Autopilot’

Tesla Inc touted safeguards to its driver assistance system “Autopilot” after a Democratic U.S. senator on Friday urged the automaker to rebrand the system because it has “an inherently misleading name.”

Walmart testing higher minimum wage for some staffers: Bloomberg

Walmart Inc is testing out a higher starting wage for certain jobs in about 500 stores as part of an overhaul of roles and responsibilities in the United States, Bloomberg reported on Friday.

Brazil investors pour record $5.4 billion into domestic equity funds: BAML

Brazilian investors are pouring a record amount of cash into local equity funds, while foreign investors notched up their sixth straight week of buying, Bank of America Merrill Lynch said on Friday.

Ericsson hit by higher 5G costs and weaker U.S. market

Sweden’s Ericsson warned it faced higher costs this year as it rolls out new 5G networks and was also hit by a temporary slowdown in its U.S. market, sending its shares 7% lower on Friday. After a number of lean years, Ericsson has been boosted by the roll-out of 5G, particularly in the United States, and analysts hope it can benefit from a U.S. campaign to shut out Chinese rival Huawei [HWT.UL] from supplying 5G equipment.

Wall Street bogged down by China virus fears, Intel limits losses

Wall Street came under pressure on Friday as investors sold energy, financial and healthcare stocks on mounting fears over the coronavirus outbreak in China, while strong gains for chipmaker Intel limited losses on the main indexes.

U.S. Treasury Secretary Mnuchin expects next China trade talks in ‘near future’

U.S. Treasury Secretary Steven Mnuchin said on Friday that he expects to begin negotiations with China on a so-called Phase 2 trade deal soon, with Washington and Beijing on the same page.

Dollar rises vs euro as European PMI data fails to impress

The dollar rose to a near eight-week high against the euro on Friday as lukewarm European PMI data added to the broader market conviction that European central bank policymakers will maintain a loose monetary policy for the near future.

BlackRock, Franklin Templeton eye partnership with Banco do Brasil’s asset management unit: report

Asset managers BlackRock Inc., Franklin Templeton and Principal Financial Group are vying for a partnership with state-controlled lender Banco do Brasil’s asset management unit, a Brazilian newspaper reported on Friday.

Positive eurozone data pushes global equity markets higher

Global equity markets rebounded on Friday, with the U.S. Nasdaq Composite Index hitting a record high, as investors took in positive economic data from Europe and worried less about the potential economic toll of the coronavirus outbreak in China.

Oil falls below $61, heads for weekly loss on China virus concerns

Oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread, curbing travel and oil demand, outweighed the impact of cuts to supply.