Markets

Finnish telecom network equipment maker Nokia Oyj is exploring strategic options and is working with advisers to consider potential asset sales and mergers, Bloomberg news reported on Wednesday, citing people familiar with the matter.

U.S. stocks turned lower in afternoon trading on Wednesday in a fresh wave of selling sparked by fears of the coronavirus spreading in the United States.

The top shareholder of carmaker Aston Martin is on a mission to turn investments from theme parks to high-end furniture brands "carbon positive" by the end of 2020, as buyout funds battle to woo investors increasingly focused on tackling global warming.

Traders short selling SmileDirectClub had a lot to smile about on Wednesday, earning paper profits of over US$115 million as the online dental company's stock plummeted 26per cent following a disappointing quarterly report.

Walmart , the world's largest retailer, said on Wednesday that following "inbound interest" it was in talks with a small number of interested parties regarding an opportunity to invest in Asda, its British supermarket arm, alongside itself.

Lloyds Banking Group and Virgin Money pressed ahead with hundreds of job cuts in the face of union opposition, as British banks try to keep up with customers moving online.

Home builder Toll Brothers Inc said on Wednesday that the coronavirus outbreak in China had led to shortages of lighting fixtures and small appliances, forcing it to delay sales of some homes in California, one of its biggest markets.

Investors pulled nearly US$3.3 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week, snapping the longest streak of asset gains since July, according to data released Wednesday by the Investment Company Institute.

The U.S. Supreme Court on Wednesday refused to back stricter deadlines for workers to sue retirement plans over alleged mismanagement, ruling Intel Corp cannot avoid a suit accusing it of unlawfully making high-risk investments that cost retirement plan beneficiaries hundreds of millions of dollars.

Walmart , the world's largest retailer, said on Wednesday that following "inbound interest" it was in talks with a small number of interested parties regarding an opportunity to invest in Asda, its British supermarket arm, alongside itself.