Reuters

As the coronavirus epidemic spreads in China and beyond, U.S. companies will see profits stagnate in 2020, according to a Goldman Sachs report.

Facebook Inc said on Thursday it would cancel its annual developer conference due to fears over the coronavirus outbreak and Microsoft Corp followed suit by withdrawing from a gaming conference scheduled for next month.

Petroleos Mexicanos posted a 345.5 billion peso ($18.3 billion) loss for 2019 on Thursday, nearly doubling the previous year's loss and dealing a major blow to the Mexican president's quest to revive the heavily-indebted state oil company.

Pfizer Inc on Thursday warned that the continued spread of the coronavirus globally could have an adverse impact on its business and financial results.

The U.S. economy grew moderately in the fourth quarter, the government confirmed, and is facing a bumpy road in early 2020 amid the fast-spreading coronavirus that has left financial markets fearing a recession.

Contracts to buy previously owned U.S. homes rebounded in January to their second-highest monthly figure in about two years as low mortgage rates boosted sales.

The U.S. Federal Communications Commission is set to propose fining four major U.S. mobile phone companies at least $200 million in total for improperly disclosing some consumer real-time location data, two people briefed on the matter said on Thursday.

The Federal Reserve may need to move aggressively to cut borrowing costs to cushion the economy from the rapid spread of the new coronavirus, in part because interest rates are already low and so is inflation.