CNBC World News

Starting a business is a risky endeavour for anyone. But when Rachel Lim set out to reinvent the retail industry, the stakes were especially high — her mom's life savings were riding on it.

China's services sector had its worst month on record in February as new orders plummeted to their lowest level since the global financial crisis, a business survey showed on Wednesday, with economists urging swift support to avoid mass bankruptcies.

Treasury Secretary Steven Mnuchin told lawmakers Tuesday that he supported the Federal Reserve's decision to cut rates in a bid to support the economy amid the coronavirus outbreak.

World health officials say the death rate for COVID-19 is 3.4% globally, higher than previous estimates of about 2%.

From Alibaba to Baidu and Tencent, China's top tech companies have launched new features aimed at helping diagnose cases and finding a vaccine for the coronavirus.

As of Tuesday, more than 91,300 cases of coronavirus have been reported, resulting in at least 3,110 deaths.

No sooner had the central bank announced the reduction than market participants began speculating about what was next.

The total number of confirmed cases in Washington state is now 27, up from 18 on Monday.

Markets had been widely expecting the U.S. central bank to take some type of action, with anticipation of a 50 basis point cut by the next Federal Open Market Committee meeting later this month.

The conference, which brings more than 7,000 attendees to its Silicon Valley backyard, is the biggest disruption for the company.

The 10-year Treasury yield broke below 1% for the first time ever in the wake of an emergency rate cut by the Federal Reserve to combat the economic effects of the spreading coronavirus.

Stocks fell after the Fed slashed interest rates in an effort to stem slower economic growth from the coronavirus outbreak.

"The magnitude and persistence of the overall effect on the U.S. economy remain highly uncertain and the situation remains a fluid one," he said.

Cisco, Amazon, Intel and Salesforce have all backed out of HIMSS citing fears related to the spread of coronavirus. HIMSS draws tens of thousands of employees to Orlando, Florida.

President Donald Trump on Tuesday demanded that the Federal Reserve cut rates even more after the central bank announced it would slash rates by 50 basis points in an effort to combat the economic impact of the coronavirus outbreak.

George Hood, 62, broke the Guinness World Record for planking over eight hours on Feb. 15. Take a look inside his daily routine, including 2,000 sits ups and a mindset coach.

The International Monetary Fund and the World Bank, citing concerns about the fast-spreading coronavirus, on Tuesday said they will adopt a "virtual format" for their spring meetings instead of convening in person in Washington.

Many U.S. workers fear that taking time off or working from home, even when sick, can damage a career. Can the coronavirus COVID-19 permanently change workplace norms?

"We reaffirm our commitment to use all appropriate policy tools to achieve strong, sustainable growth and safeguard against downside risks," the G-7 statement said.

The southern African nation's economy is expected to have contracted by 7.5% in 2019, according to the World Bank.