Big European companies ban business travel as coronavirus outbreak escalates

Big European companies have started to ban or restrict business travel for hundreds of thousands of employees as the coronavirus outbreak accelerates. Nestlé, the world’s largest food company, said it has asked all 291,000 of its employees not to travel internationally for business until the middle of March. “Domestic travel should be replaced by alternative…MORE

Drug companies race to test coronavirus vaccines

Gilead Sciences stock was up slightly on Thursday, even as the Dow plunged into correction status. The reason? The biotech company is moving closer to finding a potential treatment for the deadly coronavirus. It plans to start administering its remdesivir drug to patients next month. Shares of Gilead Sciences have risen more than 10% in…MORE

Anheuser-Busch CEO forgoes bonus as the brewer gets clobbered

It’s been a difficult year for the seller of Corona, Budweiser and Stella Artois — and 2020 doesn’t look much better. The company’s sales grew tepidly last year. Costs are up. And coronavirus has killed demand for alcoholic drinks in China. “Our performance in 2019 was below our expectations, and we are not satisfied with…MORE

Coronavirus could cost Trump the election, Goldman Sachs warns

A market meltdown. Surging recession fears. And a sudden spotlight on America’s health care system. Goldman Sachs is warning Wall Street that the coronavirus could cost President Donald Trump the election. The potential political fallout from the coronavirus adds yet more uncertainty for investors trying to assess the impact of the fast-moving epidemic. “If the…MORE

Shark Tank host loses $400,000 in a scam

“Shark Tank” judge Barbara Corcoran lost nearly $400,000 in an elaborate email scam that tricked her staff. Corcoran said someone acting as her assistant sent an invoice to her bookkeeper earlier this week for a renovation payment. She told People that she had “no reason to be suspicious” about the email because she invests in…MORE

UK-EU trade talks start Monday. Britain is already threatening to walk away

Britain has threatened to walk away from trade negotiations with the European Union if sufficient progress hasn’t been made by June, raising the stakes just days before the country begins crucial talks with its largest export market. Negotiators will sit down Monday for the first round of discussions on a trade deal between the United…MORE

Dow falls 1,191 points — the most in history

US stocks again sold off sharply on Thursday as worries about coronavirus mounted. The S&P 500 posted its worst day since August 18, 2011, and the three main indexes fell into correction territory. Stocks are on track for their worst week since the financial crisis. The Dow dropped 1,191 points, or 4.4% in its worst…MORE

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