Reuters Business News

U.S. services sector activity accelerated to a one-year high in February, suggesting underlying strength in the economy despite the coronavirus outbreak, which has triggered financial market fears of a recession and led to an emergency interest rate cut from the Federal Reserve.

Brent oil prices rose on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting the slump in demand caused by the coronavirus outbreak.

Wall Street was set for strong gains on Wednesday after a near sweep for Joe Biden in the Super Tuesday Democratic primaries, with the Dow Jones on course to claw back most of its heavy losses from the previous session.

France's high court has granted an Uber driver's request to reclassify his contractual relationship with the ride-hailing operator as an employment contract, it said on Wednesday.

General Electric Co on Wednesday reiterated its 2020 cash and profit targets but warned its first-quarter cash flow would take a hit of $300 million to $500 million due to the coronavirus outbreak.

U.S. stock markets looked set to cheer a strong showing for Joe Biden in the Super Tuesday Democratic primaries on Wednesday, with Dow and S&P index futures rebounding around 2% from heavy losses a day earlier.

General Electric Co said on Wednesday it would take a hit of $300 million to $500 million to its first-quarter cash flow from the coronavirus outbreak, while reaffirming its cash and profit targets for the full year.

A report by the Federal Reserve released on Wednesday will provide the first snapshot from the central bank's business contacts on how deeply the coronavirus is impacting their supply chains and economic outlook and may provide some insight into the urgency that caused policymakers to cut interest rates.

An Australian court on Tuesday ordered Johnson & Johnson to pay three women a total of A$2.6 million ($1.7 million) plus legal costs as compensation for misleading patients and surgeons about the risks of its pelvic mesh implants.

Bayer AG's takeover of Monsanto has been beset by problems, and now a decades-long dominance of the $4 billion U.S. soybean seed market is under threat from rival Corteva Inc.

Bonds held onto gains on Wednesday after the U.S. Federal Reserve's surprise 50 basis point interest rate cut, part of global efforts to contain economic damage from the coronavirus outbreak.

Brent oil prices rose on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting the slump in demand caused by the coronavirus outbreak.

Brent oil prices steadied on Wednesday, paring early gains as markets assessed whether deeper output cuts by major producers would be enough to offset the impact of the coronavirus outbreak.

Bonds held their gains on Wednesday as investors digested the U.S. Federal Reserve's dramatic move to cut interest rates in an effort to contain economic damage from the coronavirus.

Facebook Inc will provide free advertisements to the World Health Organization (WHO) as it seeks to ensure users are not misinformed about the virus, its risks and how to react to it, Chief Executive Officer Mark Zuckerberg said on Tuesday.

Canadian billionaire Lawrence Stroll, who is investing in carmaker Aston Martin , sees the opportunity to share Formula One technology with the firm's range of road cars, he said on Wednesday.

Model fire stations and garbage trucks helped Lego defy a shrinking toy market with a rise in sales last year, as the plastic brick maker outpaced rivals with the latest versions of its classic kits, as well as new stores and a revamped website.

Oil prices rose on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.

In an effort to win over passengers hesitant about traveling in the midst of a spreading coronavirus outbreak, some airlines are offering free rebooking options.

Asian shares struggled to find their footing on Wednesday and bonds held stunning gains, as an emergency rate cut from the U.S. Federal Reserve seemed to stoke rather than soothe fears over the coronavirus' widening global economic fallout.