Apple reported new records for both revenue and income during its holiday sales period, achieving one of the biggest quarterly profits for any company and helping to justify a stock price that has more than doubled in the last year.

AMD’s important new line-up of PC and server chips is set to deliver less of a bounce to its revenue in the first quarter of this year than Wall Street had been expecting, according to a forecast from the US chipmaker late on Tuesday.

US stocks bounced back a day after suffering their deepest losses in nearly four months, as investors were put at ease by signs of US economic resilience and efforts to contain the rapidly spreading coronavirus.

Wilbur Ross, the US commerce secretary, considered a trip to China next month but US officials decided against it as the Asian nation grapples with the coronavirus outbreak, according to people familiar with the matter.

Business investment in the US appeared weak into the end of 2019, even as Washington and Beijing approached an interim deal on trade, the stock market rallied to a record and the Federal Reserve indicated it would keep interest rates on hold this year.

Hong Kong flag carrier Cathay Pacific has announced it will cut its flights to and from mainland China by at least 50 per cent in the latest sign of how the coronavirus epidemic is affecting companies and industries.

United Technologies expects adjusted operating profit at its aerospace supply business to fall between 6 and 7 per cent this year thanks to the troubled 737 Max, the merger with Raytheon and new US regulation.

US industrial group 3M on Tuesday announced it was cutting 1,500 jobs as part of a transformation plan and announced a quarterly earnings miss as its sales in Asia weakened and demand in automotive and electronics markets declined.

SAP has said growth in new orders in its key cloud computing division cooled sharply at the end of last year, sparking a drop in the German software group’s shares.

National Grid and ScottishPower, the UK arm of Spain’s Iberdrola, are under investigation by Britain’s energy market watchdog over the delivery and operation of a giant £1.3 billion subsea power cable to carry surplus electricity from Scottish wind farms to England and Wales.

M&C Saatchi has appointed Gareth Davis, the former Imperial Tobacco chief executive, as its deputy chairman in the first steps to refill the advertising group’s board after half its members quit in December.

Wall Street’s main equities gauges fell the most in almost six months after concerns the fast-spreading coronavirus could weigh on global growth rattled markets.

Redburn, the equity research house, has downgraded two major European cement producers, arguing that the industry will face huge costs to decarbonise from the middle of the decade.

Mattress company Casper has pitched a significantly lower valuation in its initial public offering than its last funding round in one of the first major tests of Wall Street’s appetite for lossmaking groups since the collapse of the WeWork IPO.

Opec and its allies have held preliminary discussions about making deeper cuts to oil production if the fallout from the coronavirus outbreak keeps weighing on crude prices, which slipped to a three-month low below $60 a barrel on Monday.

Shares in Petra Diamonds fell by 9.5 per cent on Monday after the miner said sales for the last six months of 2019 fell by six percent due to lower diamond prices.

German business confidence unexpectedly dropped in January, cooling hopes that the downturn in the export-led manufacturing sector was on track to stabilise.

The final week of January is shaping up to be a busy one with investors watching for updates on the coronavirus, the Trump impeachment trial, a heavy slate of US earnings, central bank meetings and crucial economic data.

Wall Street retreated on Friday after health officials reported a second case of coronavirus in the US, handing the S&P 500 its steepest drop in more than three months.

A second person in the US has been confirmed to have coronavirus, the Sars-like respiratory disease that has claimed 26 lives in China and has led to public transport being shut down in a dozen cities.

The downturn in global trade dragged on at the end of last year, marking the longest period of contraction since the end of the financial crisis.

Italian regulators have warned Facebook it may face a fine after allegedly failing to comply with a demand made more than a year ago for the social media group to provide its users more details on how their personal information is used.

The Bank of England’s interest rate decision next week remains on a knife edge despite a rebound in a closely watched survey of business activity.

Christopher Woolard has been named interim chief executive of the UK’s chief financial watchdog until a permanent successor is found to Andrew Bailey, who is leaving to become the next Bank of England governor.

Rémy Cointreau has revealed a much larger than expected fall in sales and declined to reassure investors that it would meet its annual profit forecast — sending shares tumbling the most in more than a decade.