Asian stocks were pinned near 14-month lows on Wednesday, as investor confidence was chilled by the latest round of verbal threats in an intensifying U.S.-China trade conflict.
Oil prices rose on Wednesday after a report of falling crude inventories and the looming sanctions against Iran fueled expectations of a tightening market.
Chinese electric vehicle start-up NIO Inc priced at the bottom of its targeted price range in its U.S. initial public offering on Tuesday, a person familiar with the matter said, dragged down by investor concerns about the prospects of chief competitor Tesla Inc .
Private equity firm Carlyle Group LP is in talks to acquire Sedgwick Claims Management Services Inc, the largest U.S. insurance claims service provider, for more than $6 billion, including debt, people familiar with the matter said on Tuesday.
The company’s only drug, Exondys 51, is selling well, but investors should be watching the pipeline. …read more […]
Chinese electric vehicle start-up NIO Inc priced at $6.25 per share in its initial public offering on the New York stock exchange on Tuesday, at the bottom of its targeted price range, a person familiar with the matter said.
A Chicago fund manager cannot pursue a lawsuit against a Wells Fargo & Co unit over claims the bank cost the fund manager millions by forcing it to sell its holdings during a February market rout, a judge ruled on Tuesday.
Supermarket chain Morrisons is facing equal pay claims worth over 1 billion pounds ($1.30 billion), law firm Leigh Day said on Tuesday, seeking compensation for women who believe they were paid less than men in distribution centers.
Mike Ashley, the billionaire founder and majority owner of Sports Direct , faces a potential shareholder revolt at the company’s annual meeting on Wednesday, though he will not be present to hear any protests.
Pictures of Apple’s upcoming iPhone purportedly leaked last month on a well-known Apple blog. Apple has invited journalists, analysts, and tech industry figures to its campus on Wednesday for the launch of new iPhone and Apple Watch models. …read more […]
HSBC Holdings Plc aims to increase its Asia private banking headcount by two-thirds in five years and double client assets in eight as it eyes a bigger share of the business in the world’s fastest-growing wealth market, top executives said.
Shares of Dutch chipmaker NXP Semiconductors fell 4.4 percent on Tuesday after executives outlined their strategy after the collapse this year of a proposed merger with Qualcomm Inc but said they did not expect to raise gross margins to the level of rivals like Intel Corp .
Chief Executive Rick Clemmer and other executives said NXP wants to retain its leading position in supplying automotive chips and grow sales by 5 percent to 7 percent a year between now and the end of 2021, which the company said is about 50 percent more than the estimated growth rate of the chip industry. NXP also aims to boost its gross margins from the current level of about 53 percent to 55 percent by the end of 2019 and to as much as 57 percent by the end of 2021, while possibly selling off low-growth or low-margin businesses, …read more […]
The Federal Communications Commission, which is reviewing the planned merger of T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N), said on Tuesday it has paused its review clock to give the agency time to analyse new and anticipated submissions from the companies. The FCC said it was pausing the informal 180-day review clock, now at day 55, because of two new and complicated submissions from the companies and a third submission that the FCC has not yet received. T-Mobile said in a statement that it looked forward to working with the FCC in the review process. …read more […]
SEATTLE/PARIS (Reuters) – Boeing Co (BA.N) bounced back from a production snarl to deliver 48 single-aisle 737s in August and extended its lead over rival Airbus (AIR.PA) for new orders. Boeing’s August 737 deliveries, announced on Tuesday, were an improvement from the 29 delivered in July, which was one of its lowest monthly tallies in years, due to ongoing supplier delays that caused unfinished aircraft to pile up at its Renton, Washington plant. Boeing’s 737 and Airbus’ (AIR.PA) A320 family ofsingle-aisle jetliners are each aircraft makers’ cash cows, and deliveries translate into big payments from airlines. …read more […]
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