Business

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  1. Samsung Electronics Co Ltd said on Friday it has named a non-executive director as board chairman for the first time, to increase transparency and independence.
  2. The U.S. government expects China to honor its commitments to buy more U.S. goods under a trade deal signed by the world's two largest economies in January despite the fast-spreading coronavirus outbreak, a senior U.S. official said on Thursday.
  3. Asian shares were under water on Friday as fears over the creeping spread of the coronavirus sent funds fleeing to the sheltered shores of U.S. assets, lifting the dollar to three-year highs.
  4. Oil prices fell on Friday amid concerns over fuel demand as the coronavirus epidemic spread further beyond China, while major crude producers stood pat on any early action to cut output to support the market.
  5. Telus Corp could cut 5,000 jobs and C$1 billion in investments over the next five years if the Canadian telecom operator is forced to slash prices by 25% or open its network to wireless resellers, The Globe and Mail reported https://tgam.ca/39JGaRY on Thursday.
  6. Airbus SE plans to invest between 500 million euros and 1 billion euros ($539 million-$1.08 billion) this year on its A220 passenger jet program, Chief Executive Guillaume Faury said on Thursday at the company's A220 factory in Mirabel, just outside Montreal.
  7. Morgan Stanley said on Thursday it would buy discount brokerage E*Trade Financial Corp in a stock deal worth about $13 billion, the biggest acquisition by a Wall Street bank since the 2008-2009 financial crisis.
  8. British entrepreneur Richard Branson will unveil the "Scarlet Lady" on Friday, a 60,000 tonne cruise liner complete with a tattoo studio and yoga deck aimed at drawing in a younger generation of holiday-makers.
  9. T-Mobile US and Sprint Corp said on Thursday that they had agreed on new merger terms that would reduce the stake of major Sprint shareholder SoftBank, while leaving the offer to other shareholders unchanged.
  10. New Mexico Attorney General Hector Balderas on Thursday sued Alphabet Inc's Google search engine, alleging that its educational software collects young students' personal information without the required parental consent.
  11. Dropbox Inc on Thursday reported a better-than-expected quarterly profit, raised its outlook for operating margin and announced a $600 million share buyback, sending its shares up 11% in trading after the bell.
  12. U.S. stocks fell on Thursday, led by declines in technology heavyweights, after reports of new coronavirus cases in China and other countries intensified fears over its spread and impact on the global economy.
  13. The rally in U.S. equities took a pause and the strong dollar got stronger on Thursday, rising to a three-year high against a basket of trading partner currencies, after a steep slide in the Japanese yen called into question its safe-haven status.
  14. Tesla Inc got approval from a German court on Thursday to continue to cut down forest near the capital Berlin to build its first European car and battery factory, in a defeat for local environmental activists.
  15. L Brands Inc said on Thursday it will sell a controlling stake in its Victoria's Secret unit to investment firm Sycamore Partners, valuing the lingerie brand at $1.1 billion, as it focuses on its core Bath & Body Works brand.
  16. U.S. department store operator Sears has reached a deal for a fresh financial lifeline totaling roughly $100 million from hedge fund Brigade Capital Management LP, as it tries to stabilize after bankruptcy, people familiar with the matter said on Thursday.
  17. Oil prices were up slightly on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.
  18. Morgan Stanley's takeover of brokerage E*Trade Financial Corp  reflects a more relaxed regulatory mood in Washington, but it is still a gamble in an election year that will see Democrats continue to shine a spotlight on Wall Street excesses, said analysts.
  19. Apple has become embroiled in a publishing row in Germany after it tried to halt sales of a book written by a former executive, saying it disclosed secrets about the App Store.
  20. Alphabet Inc-owned Google's $2.1 billion bid for fitness trackers company Fitbit could pose privacy risks, the European Data Protection Board (EDPB) warned on Thursday, adding its voice to other critics of the deal.