WASHINGTON — Commerce Secretary Wilbur Ross suggested Thursday that the viral outbreak in China might offer an unexpected benefit for the U.S. economy: It could encourage American manufacturers in China to return to the United States. “I think it will help to accelerate the return of jobs t
WASHINGTON — Just as the outlook for the global economy had been brightening in recent months, a new threat has suddenly emerged in the form of the viral outbreak in China. That was the cautionary message that Chairman Jerome Powell delivered Wednesday after the Federal Reserve held interest rate
Shares tumbled in Asia on Thursday as concern over the impact of the virus outbreak in China deepened. Taiwan’s benchmark dived 5.8% as its market reopened after the Lunar New Year. Japan’s Nikkei 225 index sank 1.7% to 22,977.75, while Hong Kong’s Hang Seng index skidded 2.2% to 26,555.96.
Shares tumbled in Asia on Thursday as concern over the impact of the virus outbreak in China deepened. Taiwan’s benchmark dived 5.3% as its market reopened after the Lunar New Year. Japan’s Nikkei 225 index sank 1.9% to 22,935.20, while Hong Kong’s Hang Seng index skidded 1.7% to 26,693.06.
Shares advanced in most Asian markets on Wednesday after a rebound on Wall Street that reversed most losses from a sell-off the day before. Hong Kong’s Hang Seng dropped 2.4%, to 27,289.55 after reopening from Lunar New Year holidays, while other Chinese markets remained closed. The U.S. rally
General Motors’ Detroit-Hamtramck assembly plant has a 35-year history of being on the cutting edge for the automaker, often with mixed results. GM hopes to break that streak late next year when the factory officially becomes the company’s first electric vehicle only facility. Detroit-Hamtramck will be t
The UK government is expected to decide on Tuesday whether to ban equipment made by Chinese technology giant Huawei from its 5G networks. The US is lobbying the UK to exclude it on the grounds of national security. Huawei insists it would never take orders from the Chinese government. Prime M
BANGKOK— Stock markets and the price of oil tumbled Monday after China announced sharp increases in the number of people infected with a potentially deadly virus. In Paris, the CAC 40 lost 2.2% to 5,889 while Germany’s DAX skidded 2.3% to 13,271. Britain’s FTSE 100 gave up 2.3% to 7,414. Sh
Tesla will be able to sell and service its vehicles in the backyard of Detroit’s three automakers under a lawsuit settlement, a person briefed on the matter says. The deal between the state of Michigan and Tesla is likely to be announced Wednesday, said the person, who asked not to be identified becaus