Khalid al-Falih, who was removed from his position as Saudi Arabia’s energy minister last year, has returned to lead a new government ministry for investment as part of a cabinet reshuffle announced on Tuesday.
Mexico’s economy continued to flirt with recession, contracting slightly in the fourth quarter of last year according to revised numbers as President Andrés Manuel López Obrador struggled to boost growth to fund his ambitious welfare and infrastructure plans.
Petrofac, the oilfield services company under investigation by the UK’s Serious Fraud Office, has warned revenues will continue to slide in 2020 as it suffers a hangover from low orders taken in recent years.
Moderna has become the first company to release a potential coronavirus vaccine, with the Boston-based biotech start-up announcing on Monday that it had sent the vials to the US National Institutes of Health to be tested in humans.
HP will explore a combination with Xerox for the first time since its rival launched a $35bn hostile takeover bid, its chief executive said on Monday, even as the Palo Alto-based PC and printer maker announced an aggressive plan to return up to $16bn to its shareholders in the next three years.
The yield on the 30-year US Treasury hit a record low and Wall Street posted its first weekly drop in three on Friday as renewed fears about the economic fallout of the coronavirus and disappointing data stirred concerns about the outlook for the US economy.
Investors have piled into government bonds, sending the yield on the US benchmark Treasury below a key level as concerns over the impact of the coronavirus on the global economy drip back into the market.