Reuters Business News

Will the world's big central banks leave U.S. Federal Reserve Chair Jerome Powell hanging? They are certainly going to try.

Campbell Soup Co on Wednesday raised its fiscal full-year earnings forecast and posted better-than-expected quarterly profit and sales due to strong demand for soups and snacks, and its shares rose 5% in early trade.

General Motors Co Chief Executive Mary Barra said Wednesday the Detroit automaker will invest $20 billion by 2025 in electric and automated vehicles as it races to catch up with Elon Musk's Tesla Inc as vehicles go electric.

Campbell Soup said it is ordering more ingredients to ensure it can keep enough soups, sauces and snacks on hand to meet growing demand from retailers as U.S. consumers hoard food in preparation for potential coronavirus quarantines.

Global banks and small investment firms in Europe are urging staff to work from home and curb travel as the financial industry braces for disruption from the rapidly spreading coronavirus outbreak.

General Motors Co Chief Executive Mary Barra said on Wednesday the automaker's North American vehicle production should be secure from parts shortages caused by the coronavirus outbreak "quite far into this month."

U.S. automaker General Motors Co on Wednesday launched Ultium, a battery with higher capacity and fast charging capabilities, to power its upcoming line of electric vehicles.

Andrew Bailey, set to become Bank of England governor just as Britain is facing an economic hit from coronavirus, said financial support would probably have to be rushed out for companies struggling with disruption caused by the outbreak.

Will the world's big central banks leave U.S. Federal Reserve Chair Jerome Powell hanging? They're certainly going to try.

Andrew Bailey, the next governor of the Bank of England, said on Wednesday that he wanted to see more evidence about the economic impact of the coronavirus outbreak before deciding whether to cut interest rates.

Wall Street surged on Wednesday, with healthcare stocks providing the biggest boost after Joe Biden overtook Bernie Sanders to become the new front-runner in the race for the Democratic presidential nomination.

U.S. services sector activity jumped to a one-year high in February, suggesting strength in the economy before a recent escalation of recession fears ignited by the coronavirus epidemic that prompted an emergency interest rate cut from the Federal Reserve.

The dollar and world equity markets rose on Wednesday as investors were cheered by a strong showing by Joe Biden in the U.S. Democratic presidential primaries, though an economy-weakening coronavirus outbreak kept investors on tenterhooks, with bond yields falling.

General Electric Co predicted on Wednesday that the coronavirus would wipe out a substantial chunk of industrial free cash flow in the first quarter, but stuck to full-year financial targets the company set in January.GE predicted that the outbreak would erase $300 million to $500 million from industrial free cash flow and cause a hit of $200 million to $300 million to its first-quarter operating profit. GE set a forecast for first-quarter earnings of about 10 cents a sh

Fiat Chrysler Automobiles said on Wednesday its U.S. sales chief, Reid Bigland, is leaving the company to pursue other interests.

The faster spread of the coronavirus will wipe out any hope of stronger growth in 2020, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday, adding that a third of the Fund's 189 member countries were now affected.

Fiat Chrysler Automobiles said on Wednesday its U.S. sales chief, Reid Bigland, is leaving the company to pursue other interests.

Healthcare stocks boosted Wall Street on Wednesday after a near sweep for Joe Biden in the Super Tuesday Democratic primaries, a day after markets suffered heavy losses following an emergency interest rate cut by the Federal Reserve.

Andrew Bailey, who is due to become Bank of England governor this month with Britain facing an economic hit from coronavirus, said financial support would probably have to be provided for companies struggling with disruption caused by the outbreak.

U.S. private payrolls increased more than expected in February, pointing to labor market strength before a recent escalation of recession fears ignited by the coronavirus epidemic that prompted an emergency interest rate cut from the Federal Reserve.