Business News
Citigroup to overhaul its investment bank
Citigroup Inc is set to restructure its investment banking operations and merge it with the bank’s capital markets origination unit, according to an internal memo.
Year: 2018
Business News
Stock futures flat as trade worries prompt caution
U.S. stock index futures were mostly flat on Thursday as concerns that the Trump administration would make good on its plan for fresh China tariffs after a public comment period ends, kept investors jittery.
Business News
Lilly’s Elanco unit expects IPO to raise up to $1.45 billion
Eli Lilly & Co’s Elanco Animal Health unit on Thursday said it expects its initial public offering of 62.9 million shares to raise up to $1.45 billion.
Business News
World stocks fall for fifth straight day on trade fears
World shares fell for a fifth straight day on Thursday as investors braced for another escalation in a trade war between the United States and China, while emerging-market currencies paused near 15-month lows.
Business News
Factbox: At JD.com, CEO Richard Liu has an iron grip and no clear successor
A rape accusation leveled against JD.com CEO and founder Richard Liu has highlighted the lack of a No. 2 lieutenant among senior management at the e-commerce giant, exacerbating concerns about the case among investors.
Business News
Facebook to invest $1 billion in first Asian data center in Singapore
Facebook said on Thursday it will invest more than $1 billion to build its first data center in Asia in Singapore, slated to open in 2022.
Business News
Novartis sells U.S. generics assets to India’s bargain-hunting Aurobindo
New Novartis Chief Executive Vas Narasimhan has further reshaped the Swiss drugmaker, announcing on Thursday he is selling U.S. dermatology and generic pill assets to India’s Aurobindo Pharma Ltd for up to $1 billion.
Trading Ideas
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Business News
Citigroup to overhaul its investment bank: Business Insider
Citigroup Inc is set to announce a restructuring of its investment banking operations and top executives are taking on new roles, Business Insider reported on Thursday, citing people familiar with the matter.
Trading Ideas
Why Isn't All Earned Income Subject to Social Security's Payroll Tax?
In 2018, earned income above $128,400 is exempt. …read more […]
Business News
JD.com investors spooked by ‘key man risk’ after CEO accused of rape
A U.S. police investigation into an allegation of rape against JD.com Inc CEO Richard Liu has hammered the e-commerce giant’s shares, with the case laying bare risks posed by his iron grip on management and the lack of other leaders to challenge him.
Business News
Burberry ends bonfire of the luxuries, use of real fur in social shift
Britain’s Burberry will no longer burn millions of pounds worth of unsold luxury goods or use real fur in its collections following a furor over it environmental record.
Business News
Novartis sells parts of Sandoz U.S. to India’s Aurobindo for $900 million
Novartis AG said on Thursday it would sell the dermatology and generic U.S. oral solids portfolios of Sandoz U.S. to India’s Aurobindo Pharma Ltd for $900 million, as the Swiss drugmaker looks to focus on higher growth areas.
Business News
As next round of U.S. tariffs on China looms, both sides dig in
With U.S. President Donald Trump gearing up to impose tariffs on $200 billion in Chinese goods and Beijing certain to retaliate against any measures, the world’s two biggest economies are locked in an escalating trade war, with no resolution in sight.
Business News
Uber launches taxi-hailing app in Japan’s Nagoya
Uber Technologies [UBER.UL] on Thursday said it would launch a taxi-hailing app for taxis operating in Nagoya, as the U.S. firm tries to expand its foothold in a country where it has been blocked from offering its own ridesharing service.