Federal Reserve Chair Jerome Powell was fairly upbeat about the outlook for the U.S. economy in the first of his twice-a-year updates to Congress Tuesday, but cited a potential threat from the coronavirus in China and concerns about the economy’s long-term health.
A federal judge on Tuesday approved a merger between No.3 and No.4 wireless carriers T-Mobile US Inc and Sprint Corp, rejecting a claim by a group of states that said the deal would violate antitrust laws and raise prices.
Office sharing startup WeWork on Tuesday brought forward its target for becoming free cash flow positive by a year to 2022 and said it expects to post its first ever $1-billion revenue quarter this year.
IKEA named insider Jon Abrahamsson Ring to succeed Torbjorn Loof as chief executive of the world’s biggest furniture brand on Tuesday as it adapts to seismic shifts in shopping.
(Bloomberg) — T-Mobile US Inc. won court approval for its $26.5 billion takeover of Sprint Corp., defeating a state-led lawsuit that sought to block the industry-altering wireless deal.The decision by a district judge in Manhattan is a huge win for T-Mobile and its owner Deutsche Telekom AG, as well as SoftBank Group Corp., Sprint’s parent. The combined company, which will operate under the T-Mobile name, will have a regular monthly subscriber base of about 80 million — in the same league as AT&T Inc., which has 75 million subscribers, and Verizon Communications Inc., which has 114 million.After the merger, T-Mobile …read more […]
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Daimler will not sacrifice the profitability of next generation electric cars Chief Executive Ola Kaellenius said on Tuesday, as the carmaker struggles to meet more stringent European Union anti-pollution rules.
Marks & Spencer on Tuesday appointed Eoin Tonge, currently the chief financial officer of Irish food group Greencore , as its new finance chief, filling a void left by the departure of Humphrey Singer at the end of last year.
The company said it expects revenue in North America, its biggest, to decline at a mid- to high-single-digit percentage rate, while its international market is expected to rise. Under Armour, known for its moisture-wicking fabric worn by star athletes, has been struggling to grow sales in its home market due to new launches by larger rivals Nike Inc and Adidas and heavy promotions at department stores. Under Armour also estimated a $325 million to $425 million in pre-tax charges as part of its restructuring initiative this year, which will include foregoing opening a flagship store in …read more […]
JPMorgan Chase & Co is in talks to merge its marquee blockchain unit Quorum with Brooklyn-based startup ConsenSys, according to people familiar with the plans.
Top news and what to watch in the markets on Tuesday, February 11, 2020. …read more […]
U.S. companies installed fewer robots in 2019 than they did the year before, the first cut back since 2015, as a downturn in manufacturing fueled by trade wars and weaker demand dampened appetite for the machines.
China’s central bank said on Tuesday it has approved an application by Mastercard’s China joint venture to conduct bank card clearing operations in the country.
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