Month: October 2018

The Dow hit a record closing high on Tuesday, but another drop in Facebook shares weighed on both the S&P 500 and Nasdaq, driving both to finish in the red.

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Robert Lighthizer was the public face of arduous, year-long talks to rework NAFTA, but as he savored a successful conclusion in the White House Rose Garden on Monday, the U.S. trade representative singled out another man as the deal’s architect.

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Wells Fargo & Co has not convinced U.S. regulators it is doing enough to repay 600,000 drivers who were wrongly pushed into buying auto insurance, a leading bank regulator said on Tuesday.

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Tesla Inc announced record quarterly car production on Tuesday but warned of major problems with selling cars in China due to new tariffs that would force it to accelerate investment in its factory in Shanghai.

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The top lenders of Toys ‘R’ Us have decided to cancel the bankruptcy auction of its brand name and other intellectual property assets and instead plan to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, a court filing on Monday showed.

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Toys ‘R’ Us has canceled the bankruptcy auction of its brand name and other intellectual property assets and instead plans to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, the court papers filed by the company’s lenders on Monday showed.

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Oil prices eased slightly on Tuesday after rallying for three straight sessions, but remained close to four-year highs on worries that global supplies will drop due to Washington’s sanctions on Iran.

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Stocks were shaky around the globe and European assets sold off on Tuesday as anti-euro comments by an Italian lawmaker sent Italy’s bond yields to multi-year highs and optimism over an agreement to revamp a North American trade deal receded.

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The Dow and S&P advanced on Tuesday, with the blue-chip index hitting a record, while another drop in Facebook shares weighed on the Nasdaq.

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Amazon said on Tuesday it is raising its minimum wage in Britain to 10.50 pounds ($13.59) an hour for all employees in the London area and 9.50 pounds an hour for staff in all other parts of the country, effective from Nov. 1.

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U.S. Democratic Senator and prominent Amazon critic Bernie Sanders praised the company’s move to increase minimum hourly wages to $15 on Tuesday and said other companies should follow its lead.

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Ratings agency Standard & Poor’s cut General Electric Co’s credit rating on Tuesday, a day after the conglomerate announced a $23 billion charge related to its power business and ousted its chief executive officer.

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The euro fell to a six-week low on Tuesday after a senior lawmaker in one of Italy’s ruling parties said most of the country’s problems would be resolved if it readopted a national currency.

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The array of trade tariffs and counter measures from other countries could raise U.S. inflation but there is so far no indication of that happening, Federal Reserve Chairman Jerome Powell said on Tuesday.

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The Federal Reserve’s top regulator told U.S. lawmakers on Tuesday that his “highest priority” is enacting simpler rules for banks with between $100 billion and $250 billion in assets, though Republicans pressed for a more drastic easing.

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