Business

U.S. stock index futures edged higher on Friday, as a strong forecast from chipmaker Intel and encouraging business activity data out of Europe lifted the mood as investors tracked latest developments related to the coronavirus outbreak.

Credit card issuer American Express Co reported a fourth-quarter profit on Friday that beat analysts' estimates, as more people used its cards for shopping and paying bills while a strong U.S. retail sales environment also helped.

Italy's competition watchdog has launched proceedings against Facebook for non-compliance with a previous request it had made regarding improper commercial practices in the group's treatment of user data, the agency said on Friday.

Sweden's Ericsson warned it faced higher costs this year as it rolls out new 5G networks and was also hit by a temporary slowdown in its U.S. market, sending its shares 7% lower on Friday. After a number of lean years, Ericsson has been boosted by the roll-out of 5G, particularly in the United States, and analysts hope it can benefit from a U.S. campaign to shut out Chinese rival Huawei [HWT.UL] from supplying 5G equipment.

Workers' approval of a possible divestment of Volkswagen's transmissions making unit Renk and MAN Energy Solutions depends on who the new owner will be, the carmaker's labor chief said on Friday.

SoftBank-backed cloud robotics and artificial intelligence startup CloudMinds is slashing its global workforce as it burns through cash after repeated attempts to list on the stock market, people familiar with the matter said.