Reuters Business News

Harley-Davidson Inc said on Friday Matthew Levatich has stepped down as chief executive officer and the motorcycle maker named Jochen Zeitz as the interim CEO.

Goldman Sachs Group Inc's asset management unit has added to positions in travel stocks, including hotels and cruise lines, as well as Live Nation Entertainment Inc and Japanese cosmetics company Shiseido Co Ltd, executives said Friday.

This week's sharp stock sell-off helped activist short-seller Andrew Left profitably close a long-held bet against online retailer Wayfair on Friday.

Cratering markets are pushing global central banks to the point they all warned against and worried about, of an evolving global economic shock hitting at a time when their capacity to respond in force is in doubt even as investors hound them for action.

With the rapid global spread of the new coronavirus and the U.S. stock market suffering its worst week since the Great Recession, central bankers around the world are under rising pressure to reduce borrowing costs to create a cushion against economic harm. So far they have largely resisted. Following are some of their recent remarks:

Corona beer maker Constellation Brands Inc said on Friday sales of its Corona Extra beer remained strong in the United States in the four weeks to Feb. 16, amid the rapid global spread of the coronavirus.

Sanofi SA has agreed to pay nearly $11.9 million to resolve allegations that it used a charity that helps Medicare patients cover out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging the use of a high-priced multiple sclerosis drug.

The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could lead to a recession, although stocks cut losses at the end of the day's session.

Oil prices slumped for a sixth day in a row on Friday to their lowest in more than a year, causing futures to drop by the most in a week since 2016, as the spread of coronavirus stoked fears that a slowing global economy would hit energy demand.

Wall Street's worst week since 2008, sparked by fears about the fast-spreading coronavirus, has left almost half of the S&P 500's stocks in bear market territory, just nine days after the leading benchmark closed at a record high.

(This Feb. 27 version of the U.S. stocks copy has been republished)

Activist investor Clifton S. Robbins told clients on Friday that he is shuttering his Blue Harbour Group not because investors want their money back or because returns have lagged, but because he wants to do something different.

U.S. consumer spending slowed in January and could lose further momentum as the fast-spreading coronavirus outbreak, which has sparked a stock market sell-off and revived fears of a recession, causes households to tighten their purse strings.

Wall Street's main indexes tumbled for the seventh straight day and were on track for their biggest weekly dip since the 2008 global financial crisis on worries the fast-spreading coronavirus could lead to a recession.

Coronavirus panic sent world stock markets tumbling again on Friday, putting them on course for their largest weekly fall since the 2008 global financial crisis, with over $5 trillion wiped from global market value so far this week.

Bernard Madoff's former customers will soon see their total recovery approach $14 billion, a court-appointed trustee said on Friday, as the dying swindler awaits a decision on whether the U.S. government will support his request to leave prison early.

Volkswagen e una delle maggiori organizzazioni tedesche di consumatori hanno annunciato di aver raggiunto un accordo da 830 milioni di euro nell'ambito della class action per i test sulle emissioni diesel truccati.

When Roger Jenkins was asked to help Barclays avoid a state bailout at the height of the financial crisis in 2008, he was expecting a bonus not a prosecution for his efforts.

Three former Barclays executives were unanimously acquitted on Friday of charges they helped funnel 322 million pounds ($418 million) in secret fees to Qatar in return for rescue financing during the credit crisis.

Three former Barclays executives were cleared of credit-crisis era fraud charges by a jury on Friday after a landmark London trial over undisclosed payments to Qatar in 2008.