surprise 4.86 billion euro ($5.26 billion) bid for smaller rival
UBI Banca, announced overnight, sent Italian bank
stocks surging on Tuesday
as it kicked off a long-awaited consolidation of the sector.
European shares dropped on Tuesday as a
revenue warning from iPhone maker Apple Inc sent
shockwaves through the tech sector, highlighting the impact of
the coronavirus outbreak on global demand and supply.
The Boy Scouts of America, one of the
largest youth organizations in the United States, has filed for
Chapter 11 bankruptcy protection as it faces legal challenges
defending itself against lawsuits alleging sexual abuse.
As investors crunch numbers
to determine how the coronavirus will hit China’s economy, hedge
fund manager Nathaniel Polachek has tied much of his outlook to
the fate of a ship anchored near Weihai, China.