Business

Drugmaker Gilead Sciences Inc on Monday named Roche Holding AG's Daniel O'Day as its new chief executive, tapping an industry veteran to fill a management vacuum.

Losses on global stocks snowballed on Monday, with European markets following Asian peers lower as fresh signs emerged of slowing growth worldwide and fears grew that simmering U.S.-China tensions would torpedo chances of a trade deal.

The onset of a U.S. recession could take longer than usually thought after key points of the Treasury yield curve invert, as a surge in U.S. short-dated debt issuance has altered the dynamics of the Treasury market and other indicators show an economic downturn is farther off.

Unless U.S.-China trade talks wrap up successfully by March 1, new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline" after a week of seeming confusion among President Donald Trump and his advisers.

Standard Chartered is cutting jobs in its retail bank in the United Arab Emirates, in part as more customers move to digital services, people familiar with the matter told Reuters.

Hitachi Ltd shares rose as much as 2.9 percent on Monday after Japan's TV Asahi reported the firm is considering scrapping its 3 trillion yen ($26.61 billion) nuclear project in Britain due to projections of further increases in construction costs.