Month: July 2019

U.S. lawmakers from both sides of the aisle were set to grill Facebook Inc on its cryptocurrency plans on Tuesday, as the project continues to draw intense scrutiny from financial regulators and politicians across the globe. Facebook is fighting a rearguard action to get Washington onside after it shocked regulators and lawmakers with an announcement on June 18 that it was hoping to launch a new digital coin called Libra in 2020.

…read more […]

U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the drag on the economy from weak business investment.

…read more […]

U.S. stocks opened slightly lower on Tuesday as bank shares fell after a batch of mixed quarterly reports from Wall Street lenders JPMorgan Chase, Goldman Sachs and Wells Fargo.

…read more […]

A federal appeals court on Tuesday said New York City can ban advertising inside vehicles for companies such as Uber and Lyft.

…read more […]

Wells Fargo & Co reported higher quarterly profit on Tuesday despite flat revenue as the bank benefited from aggressive cost-cutting.

…read more […]

U.S. manufacturing output accelerated in June, climbing for the second straight month, thanks in large part to increased production of motor vehicles and parts.

…read more […]

U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the drag on the economy from weak business investment.

…read more […]

Oil prices steadied on Tuesday as a resumption of production in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply from shale oil countered tensions in the Middle East.

…read more […]

Blue Apron Holdings Inc said on Tuesday it would include Beyond Meat Inc’s plant-based burgers on its menus from next month, a bet on the growing popularity of meat alternatives that sent the meal kit delivery firm’s shares up 11%.

…read more […]

Goldman Sachs Group Inc reported a higher-than-expected quarterly profit on Tuesday as the Wall Street investment bank benefited from higher equities trading revenues.

…read more […]

U.S. stock indexes were set for a muted open on Tuesday after a set of mixed quarterly reports from Wall Street banks JPMorgan Chase, Goldman Sachs and Wells Fargo.

…read more […]

Wells Fargo & Co beat analysts’ estimates for quarterly profit on Tuesday, as the fourth-largest U.S. bank benefited from an uptick in lending and aggressive cost cutting.

…read more […]

JPMorgan Chase & Co reported a better-than-expected quarterly profit on Tuesday as higher interest income and buoyant consumer lending offset lower activity at its trading desks.

…read more […]