Business News

Toyota and Honda recall millions of vehicles

Toyota and Honda recall millions of vehicles

Two of Japan’s biggest automakers, Toyota and Honda, are recalling millions of cars over unrelated safety issues. Toyota said Tuesday it would recall 3.4 million cars, 2.9 million of which are in the United States, because of potentially defective equipment meant to protect passengers during a crash. The affected models in North America, Central America…

Cable, not broadcast, is the main stage for Trump’s impeachment trial

Cable, not broadcast, is the main stage for Trump’s impeachment trial

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. So much has changed since the Bill Clinton impeachment trial. People, including some rule-bending senators, have computers strapped to their wrists nowadays. Places like the Capitol have geotags. Print newspapers have faded from prominence. Phones…

Asian stocks recover from losses sparked by the coronavirus outbreak

Asian stocks recover from losses sparked by the coronavirus outbreak

Stocks in Asia recovered a little ground Wednesday after a new virus originating in China drove markets into the red earlier this week and disrupted plans for the millions of people traveling over the Lunar New Year. China’s Shanghai Composite was last up 0.4%, reversing earlier losses. The index had fallen more than 1% Wednesday…

Netflix adds subscribers as competition from Disney+ and Apple ramps up

Netflix adds subscribers as competition from Disney+ and Apple ramps up

Netflix released its earnings on Tuesday, finally giving itself a chance to calm the nerves of jittery investors who are concerned about the rise of rivals. So did Netflix shrug off its competitors or did its subscriber base take a hit? The streaming giant exceeded its own expectations by reporting fourth quarter earnings showing that…

Boeing now expects 737 Max won’t be approved to fly again until mid-2020

Boeing now expects 737 Max won’t be approved to fly again until mid-2020

Boeing executives now expect the 737 Max will not be approved to fly until the middle of this year, the company said Tuesday. “We are informing our customers and suppliers that we are currently estimating that the ungrounding of the 737 MAX will begin during mid-2020,” the statement said. The plane has been grounded since…

Dow tumbles on the first case of coronavirus in the United States

Dow tumbles on the first case of coronavirus in the United States

The Dow and broader stock market closed in the red Tuesday as reports of the first case of the Wuhan coronavirus in the United States weighed on the market. The Center for Disease Control and Prevention announced Tuesday that the first case of the illness in the United States showed up in Washington state. The…

IPOs are SO 2019. Companies are finding new ways to go public

IPOs are SO 2019. Companies are finding new ways to go public

Last year was rough for many new stocks. Sure, Beyond Meat soared. But Uber and fellow ridesharing unicorn Lyft both flopped in their Wall Street debuts. WeWork struggled due to significant concerns about its business model and corporate governance. You’d think companies would want to avoid Wall Street in 2020. Not so fast. As Spotify…

US airline stocks fall on coronavirus fears

US airline stocks fall on coronavirus fears

Shares of Delta, United and American Airlines were all lower Tuesday as investors worried that the coronavirus outbreak in China could affect global air travel. The outbreak is in the Chinese city of Wuhan in the Hebei province. Six people have reportedly died from the disease in China, which can cause pneumonia-like respiratory problems. The…

Disney+ is coming to Europe earlier than expected

Disney+ is coming to Europe earlier than expected

Disney fans in parts of Europe will be able to access Disney+ earlier than expected. The company has bumped up the global launch of Disney+ by a week. It will now roll out in eight countries, including the United Kingdom, Ireland, France, Germany, Italy, Spain, Austria, and Switzerland on March 24, the company announced Tuesday.…

NFL’s Championship round takes a hit, but still brings in huge ratings

NFL’s Championship round takes a hit, but still brings in huge ratings

The NFL’s ratings may have been down this weekend because of somewhat one-sided NFC and AFC championship games, but football still managed to nab some big numbers. In Sunday’s early game on CBS, the Kansas City Chiefs punched their tickets to the Super Bowl after a 35-24 victory over the Tennessee Titans. The game, which…

Boeing has temporarily stopped making 737 Max airplanes

Boeing has temporarily stopped making 737 Max airplanes

The Boeing 737 Max is now on hold. The assembly line in Renton, Washington, has temporarily stopped building Boeing’s bestselling plane, the company confirmed late Monday. Boeing announced plans to pause production for an undetermined period in December, but it had not previously announced a precise day for the shutdown. Boeing will not furlough or…

China’s travel industry braces as coronavirus outbreak revives memories of SARS

China’s travel industry braces as coronavirus outbreak revives memories of SARS

China’s biggest online travel agency is waiving cancellation fees for trips to the central Chinese city of Wuhan as a deadly new virus sparks fear in the country. Local authorities in the central China city of Wuhan have delayed the city’s 2020 Lunar New Year celebration set to begin Saturday, amid fears that a pneumonia-causing…

Greta Thunberg: ‘Nothing has been done’ to tackle the climate crisis

Greta Thunberg: ‘Nothing has been done’ to tackle the climate crisis

Greta Thunberg took the stage at the World Economic Forum Tuesday to admonish world leaders for doing “basically nothing” to reduce carbon emissions despite evidence of a looming climate catastrophe. Speaking just hours before President Donald Trump’s appearance at the annual gathering of the world’s political, business and financial elite, the teen activist said awareness…

Hong Kong leads Asian markets lower on credit downgrade and coronavirus fears

Hong Kong leads Asian markets lower on credit downgrade and coronavirus fears

Hong Kong stocks recorded their worst day in more than five months after renewed concerns about how the city is handling ongoing protests, and as a new virus spreads throughout China. The city’s benchmark Hang Seng Index ended down 2.8% as it received a double dose of bad news. First, Moody’s downgraded the city’s credit…

Huawei’s big week in court kicks off with extradition hearing in Vancouver

Huawei’s big week in court kicks off with extradition hearing in Vancouver

Meng Wanzhou, Huawei’s chief financial officer, arrived in a packed courthouse in Vancouver, British Columbia, Monday morning for a hearing that could determine whether she is extradited from Canada to stand trial in the United States on charges of bank fraud and sanctions violations. The hearing comes just over a year after Meng’s arrest in…

You won’t be flying on a 737 Max anytime soon

You won’t be flying on a 737 Max anytime soon

No one knows when the Boeing 737 Max will return to service. But it won’t be any time soon. Boeing eagerly awaits the US Federal Aviation Administration’s approval to allow the grounded plane to fly again. But the FAA refuses to provide a specific timeframe, saying only that it will make a decision sometime this…

IBM must show restless investors that its cloud strategy is working

IBM must show restless investors that its cloud strategy is working

IBM may be one of the most iconic American technology companies, but Wall Street no longer views Big Blue as an innovator in a tech landscape dominated by the likes of Amazon, Apple and Google owner Alphabet. Shares of IBM have fallen 12% in the past five years, as stocks of software giants like Microsoft…