Reuters Business News

Oil prices rose for a second day on Tuesday on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism that OPEC will order deeper output cuts this week.

GFL Environmental Inc on Monday raised about $1.4 billion in its initial public offering, pricing it below the target range in a conservative step to ride out market volatility in the wake of the coronavirus outbreak.

The Dow Jones Industrial Average surged over 5% on Monday while the S&P 500 and Nasdaq each jumped more than 4% in a major rebound following last week's steep sell-off sparked by fears about the coronavirus.

Global shares and oil prices extended their rebound on Tuesday on mounting speculation policymakers around the world would move to ease the economic fallout from the spreading coronavirus.

The organizers of the Grammy Awards said on Monday they fired the chief executive they had placed on administrative leave in January.

Waymo, the self-driving unit of Alphabet Inc , said on Monday it had raised $2.25 billion in its first external investment round and expects to add more outside investors.

Chevron Corp is offering buyouts to reduce its U.S. oil exploration and production workforce, three sources told Reuters, as the oil major moves to cut costs in the face of sharply lower oil and gas prices.

Trillium Asset Management LLC has called for the separation of Johnson & Johnson's chairman and chief executive officer roles, currently held by Alex Gorsky, according to a regulatory filing https://www.sec.gov/Archives/edgar/data/200406/000020040620000014/a2020jnjproxy.htm by the healthcare conglomerate on Monday.

Jack Welch, who upended the business world in the 1980s and 1990s by transforming General Electric Co from a stolid maker of light bulbs and washing machines into the most valuable U.S. public company, has died at 84, GE said on Monday.

Jack Welch, the legendary CEO who led General Electric Co for two decades to create the most valuable public company in the United States, died at the age of 84.

(This February 5 story corrects number of 5G license agreements in paragraph 16)

The White House will hold meetings this week with top executives from U.S. airlines and the cruise industry amid the growing coronavirus outbreak, a spokeswoman for Vice President Mike Pence confirmed on Monday.

Novartis' generic drugs unit Sandoz has agreed to pay $195 million to reach a deferred prosecution agreement aimed at resolving antitrust charges, the Justice Department said on Monday.

Britain on Monday unveiled its mandate for trade talks with the United States, with Prime Minister Boris Johnson vowing to drive a hard bargain in negotiations that are set to test the two allies' "special relationship".

Trillium Asset Management LLC has called for the separation of Johnson & Johnson's chairman and chief executive officer roles, currently held by Alex Gorsky, according to a regulatory filing https://www.sec.gov/Archives/edgar/data/200406/000020040620000014/a2020jnjproxy.htm by the healthcare conglomerate on Monday.

Japan's Honda Motor Co Ltd said on Tuesday it will temporarily cut back local production due to difficulty in sourcing parts amid the coronavirus outbreak.

Waymo, the self-driving unit of Alphabet Inc , said on Monday it had raised $2.25 billion in its first external investment round.

Traders on Monday piled into bets the U.S. Federal Reserve will deliver a big dose of stimulus starting this month amid mounting concern over the economic impact from the coronavirus and indications that global central banks are readying a monetary rescue.

U.S. President Donald Trump on Monday reiterated his call for the U.S. central bank to lower interest rates, tweeting that the Federal Reserve has been "slow to act" and should be more aggressive.

Equity markets around the world rose on Monday as speculation that central banks will cut interest rates to soften the economic blow of the coronavirus heartened investors and drove U.S. government debt yields to record lows.