Oil futures steadied somewhat on Tuesday after a five-day losing streak as OPEC sources said the group and its allies might tighten the market amid fears that the coronavirus, which has claimed over 100 lives in China, could weigh on oil demand.
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Oil futures edged up on Tuesday after falling for five days, bouncing up with Wall Street, and crude also drew support from talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand.
Prime Minister Boris Johnson granted Huawei a limited role in Britain's 5G mobile network on Tuesday, frustrating a global attempt by the United States to exclude the Chinese telecoms giant from the West's next generation communications.
Britain's decision to give Chinese telecoms giant Huawei [HWT.UL] a limited role in building its 5G networks could greatly complicate a free trade agreement with the United States and jeapordize intelligence sharing with one of its closest allies, Republican U.S. Senator Lindsey Graham said on Tuesday.
There have been no threats from other countries' intelligence agencies to break ties with Britain after it announced it would grant Huawei a limited role in its 5G mobile network, a British security source said on Tuesday.
3M CEO Mike Roman said the company is seeing increased demand for its respiratory protection products due to China's coronavirus outbreak.
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Prime Minister Boris Johnson granted Huawei [HWT.UL] a limited role in Britain's 5G mobile network on Tuesday, defying U.S. pressure to exclude the Chinese company from next-generation communications over fears Beijing could use them to spy.
U.S. stocks rose on Tuesday as gains in technology and financial sectors helped major indexes recover from their worst selloff in about four months on worries over a coronavirus outbreak and its impact on the global economy.
Global equity markets rebounded in a broad rally on Tuesday and some safe-haven assets lost a bit of their appeal as investors took a less pessimistic view of the potential economic fallout from China's coronavirus outbreak.
New orders for key U.S.-made capital goods dropped by the most in eight months in December and shipments were weak, suggesting business investment contracted further in the fourth quarter and remained a drag on economic growth.
NEW YORK - A dramatic rally in Treasuries this week led some key parts of the U.S. yield curve to reinvert, a signal that has traditionally been bearish for the U.S. economy.
Freeport-McMoran Inc , the world's largest publicly traded copper producer, would consider acquisitions, mergers or other deals once three ongoing expansion projects finish by 2022, Chief Executive Richard Adkerson said in an interview on Tuesday.
United Airlines Holdings Inc said on Tuesday it was suspending some flights between the United States and Beijing, Hong Kong and Shanghai between Feb. 1 and Feb. 8 due to a "significant decline in demand" as the new coronavirus spreads.