Turbine manufacturer Vestas Wind Systems logged record order levels in 2019 as well as a rise in profit and revenue. Vestas posted an order intake — a measure of turbines placed on its order books — of more than 17 gigawatts (GW) last year, with revenue hitting 12.1 billion euros ($13.34 billion), up from 10.1 billion euros in 2018. Looking ahead, the Aarhus-headquartered business said it expected revenue for 2020 to “range between” 14 and 15 billion euros. Shares of Vestas moved almost 5% highe

Congressman Ami Bera, chairman of the House Foreign Affairs Subcommittee on Asia, the Pacific, and Nonproliferation, announced the hearing last week. “I look forward to hearing from our expert witnesses on ways in which we can plan and respond to this virus. Congress needs to ensure the administration has the tools it needs to respond to and limit the outbreak.” Flights from mainland China are being funneled through 11 U.S. airports, officials said, where all passengers are being screened for sy

“We’re playing card games, watching television, running outside, riding bikes, playing frisbee,” he said before Sunday’s game over the phone. The evacuees were initially asked to voluntarily stay at the base while medical tests were carried out, officials said. But two days later the CDC announced it was taking the “unprecedented action” of ordering a 14-day mandatory quarantine on the 195 passengers. On Monday, the Pentagon said it has prepared four facilities for up to 1,000 more evacuees from

There’s a 70% chance that a recession will hit in the next six months, according to new research from the MIT Sloan School of Management and State Street Associates. The researchers created an index comprised of four factors and then used the Mahalanobis distance — a measure initially used to analyze human skulls — to determine how current market conditions compare to prior recessions. It measures the distance between a point and a certain distribution. Using this principle, the researchers anal

ET vote on whether to convict Trump on the two articles of impeachment that passed the House in December. Romney was one of just two GOP senators to vote in favor of allowing additional witnesses and documents in the Trump’s impeachment trial. Romney acknowledged that his vote will not change the outcome of the trial, in which Trump is virtually guaranteed to be acquitted. The GOP holds a 53-47 majority in the Senate; It would take 67 votes convict Trump. “I, along with the @GOP, stand with Pres

GlaxoSmithKline on Wednesday reported quarterly profit that fell short of analysts’ expectations because of pricing pressure, mainly hitting its respiratory drugs, and the drugmaker said adjusted earnings for the year could fall as much as 4 percent. Sales rose 11% to 8.90 billion pounds ($11.62 billion) in the three months ended Dec. 31 at constant currency, while adjusted earnings were 24.8 pence per share. GSK now expects 2020 adjusted profit to be down 1% to 4% after 2019 adjusted earnings r

On Tuesday evening, baseball fans took to social media to chatter about the first of two significant moves this offseason. Fred Wilpon would stay on as CEO, past the original five-year agreement that was reported when the sale was first revealed last December. The deal also included unfavorable language when it came to the Mets’ regional sports network, SNY. After changes to the deal, Cohen decided against the move to purchase 80% of the franchise. The Astros’ investigation officially ended last

DETROIT — General Motors lost $194 million in the fourth quarter largely because of the 40-day autoworkers strike that cost it four weeks of vehicle production and eroded any profit. The company still beat Wall Street’s earnings expectations for the fourth quarter, but its revenue came in slightly below expectations. Revenue: $30.8 billion vs. $31.04 billion expected. The company’s 2020 guidance includes adjusted earnings of $5.75 to $6.25 per share and adjusted operating cash flow of $13 billio

Macy’s is making the case to investors that it is still “America’s department store.” As the embattled retailer aims to get back to profitability and sales growth, it is meeting with investors Wednesday in New York to rally support for its turnaround plans. A key test of this plan, however, will be if Macy’s can reach younger customers, as their spending power only grows. “Macy’s needs to quickly re-capture lapsed customers and connect with new [and] younger shoppers before it’s too late,” Gordo

Central banks to the rescue? As coronavirus spreads, market participants are trying to assess whether global central banks will make a concerted effort to stem the damage in their respective economies by leveraging monetary policy tools. Given how much Fed Chairman Jerome Powell has done to emphasize the central bank’s “wait-and-see” posture following its last cut, Steil doesn’t see the Fed moving immediately — but he’s not writing off another cut for this year. “Larry Kudlow, one of President T

Their analysis finds more students finance their educations through low-interest federal Stafford loans, and fewer students rely upon high-interest credit card debt. Across the country, in schools where 75% of students eligible for free lunch/reduced lunch, only 3.9% are required to take a one-semester personal finance course. In states where the personal finance content is not required for graduation, there is a 16-point gap in access to personal finance education. Seventy-two percent of childr

Josh Edelson | AFP | Getty ImagesAlphabet may have disclosed numbers for YouTube and Google Cloud for the first time, but the excitement is leveling as Wall Street says results might not be enough to stave off broader deceleration. Google’s cloud business generated $8.92 billion in revenue in fiscal 2019, compared with $5.84 billion in 2018. As the company broke out YouTube and Cloud, it also abandoned metrics used in prior reports: cost-per-click and paid clicks. YouTube revenue fell below Citi

Goldman Sachs’ first-ever investor day appears to have made the desired impression. Analysts at Citi raised their price target for the investment bank to $290 per share from $255, roughly 20% above where the stock closed on Monday. Goldman set several key goals, including boosting return on total equity to above 14% within three years and cutting expenses by $1.3 billion, and Citi said in a note to clients that it believes the bank can hit many of those marks.

Tesla’s stock is racing higher almost daily this year, turning the company into a closely-watched trend that investors in droves are trying to understand. But, with the stock of Elon Musk’s company up nearly 290% in the past six months, there’s a new number one in the “Should I” search: “Should I buy Tesla stock.” Suggested results for a Google search of the phrase “should I” on Feb. 4, 2020. “Should I buy Tesla” searches in the US”Should I buy Tesla” searches worldwideAdditionally, Google Trend

Spotify is expanding its podcast catalog and media footprint with a new acquisition of the sports and entertainment news company The Ringer, the company announced Wednesday. Last February, Spotify announced its plans to acquire the privately held podcast producers Gimlet Media and Anchor. In March, Spotify announced its acquisition plans for podcast company Parcast. The Ringer, founded by sports writer Bill Simmons in 2016, has more than 30 podcasts in its network, including “The Bill Simmons Po

U.S. services sector activity picked up in January, with industries reporting increases in new orders, suggesting the economy could continue to grow moderately this year even as consumer spending is slowing. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. The ISM survey’s measure of new orders for the services industry increased to a reading of 56.2 in January from 55.3 in December. Order backlogs, however, continu

The final vote in President Donald Trump’s impeachment trial is set for Wednesday afternoon, with the Senate expected to acquit Trump on charges of abuse of power and obstruction of Congress. But the chance of a Republican-led Senate ousting Trump was widely considered remote from the outset. After the Senate voted against even allowing additional witnesses and documents into the trial, acquittal became a virtual certainty. Sen. Susan Collins of Maine, one of only two GOP members to vote alongsi

Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020. Canaccord downgraded the stock after the recent runup in shares and said investors should wait for a better “entry point””Following an electrifying run in 2020, we are downgrading shares of Tesla to HOLD as we see a balanced risk reward for investors to lock in profits. Just as we observed a clear buy signal coming into 2020, we see the risk of China’s

The analyst who downgraded Tesla stock after its two-day, 33% winning streak said Wednesday that fundamentals need to catch up to the meteoric market run. “We’re certainly not saying short this stock,” Canaccord Genuity analyst Jed Dorsheimer, who took down his rating on Tesla shares to hold from buy, told CNBC. Short sellers — or traders who bet that a stock will decline — have taken a bath on Tesla, which is one of the most shorted stocks on Wall Street. That includes nearly $2.5 billion in lo

Gwyneth Paltrow, founder and CEO of luxury lifestyle brand Goop, has something to say to those who advise women to “act like a man” or “don’t cry” at work. “I think that’s total bulls—,” Paltrow told CNBC Make It on Monday at Jerusalem Venture Partners’ International Cyber Center in Manhattan. Though Paltrow believes women should use their unique strengths to succeed, she’s not blind to the fact that men and women executives are often treated differently. “As a woman CEO, sometimes when I’m at