Month: November 2018

Apparel maker Levi Strauss & Co is planning an initial public offering, CNBC reported https://cnb.cx/2zSjbDL on Wednesday, citing sources familiar with the matter.

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U.S. stocks fell on Wednesday, with the S&P 500 dropping for the fifth session in a row, as Apple Inc continued to lead a retreat in technology stocks and financials were hit by fears that sector-wide regulations would no longer be eased.

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Saudi Arabia’s sovereign wealth fund PIF is exploring the acquisition of up to a $700 million stake in Legendary Entertainment, the U.S. movie studio behind films such as “Jurassic World” and “Interstellar”, according to people familiar with the matter.

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The sterling fell to session lows against the euro and dollar on Wednesday following a BBC report that Brexit proponents in the Tory party in the U.K. parliament might call for a no confidence vote on their leader and Prime Minister Theresa May on Thursday.

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Oil prices rebounded on Wednesday on hopes for output cuts after a steep drop a day earlier, while a gauge of global stock markets fell for a fifth straight session as declines in tech and financial shares pressured Wall Street.

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William Ackman’ hedge fund Pershing Square Capital Management sold out of snack maker Mondelez International during the third quarter some three years after first making the investment.

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U.S. carrier Delta Air Lines has emerged as the probable buyer for 10 Airbus A330neo jets worth $3 billion, industry sources said, in a boost for the becalmed European model.

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The U.S. Postal Service lost almost $4 billion in 2018 even as package deliveries rose, according to results released on Wednesday, giving U.S. President Donald Trump potential ammunition against Amazon.com Inc , which he claims pays too little for the agency’s services.

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Blue Apron Holdings Inc on Wednesday said it plans to cut marketing spending, sacrificing possible revenue growth to focus on promoting its meal-kit delivery service to its highest-paying, most profitable customers.

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The euro and sterling rose on Wednesday as traders monitor the latest developments between the European Union and Britain on the latter’s departure from the economic bloc, and the EU and Italy on the resubmission of the latter’s 2019 budget.

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Oil rose about 2 percent on Wednesday, recouping some of the previous session’s heavy selloff, on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market.

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Victoria’s Secret Lingerie Chief Executive Officer Jan Singer is leaving the company a little over two years after she took the job, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

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PG&E Corp, the electricity provider in the Northern California region being ravaged by the deadly Camp Fire, warned that it could face “significant liability” in excess of its insurance coverage in the event that its equipment is found to have caused the blaze.

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Macy’s Inc raised its annual earnings forecast on Wednesday, signaling a strong holiday shopping season ahead, encouraged by good performance at its stores and its growing online business.

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U.S. stocks turned lower on Wednesday as early support from tame consumer prices data and a rebound in oil prices faded, with Apple Inc leading a decline in technology stocks.

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