Oil prices sank more than 4% on Wednesday after global demand fears were revived by weak economic data from China and Europe and an unexpected build in U.S. crude inventories.
Ford Motor Co said on Wednesday it was extending warranty on clutch and related hardware in 560,000 Focus and Fiesta cars that were reported to have had problems with their six-speed transmission.
Equity markets tanked and oil prices fell sharply on Wednesday after a closely watched bond indicator pointed to the growing risk of a U.S. recession that was heightened by data showing Germany’s economy in contraction and China’s worsening.
Wall Street main indexes slid more than 2% on Wednesday, as a closely watched U.S. bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.
Macy’s Inc slashed its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.
Trade tensions between the United States and China and a weakening yuan are boosting demand for cryptocurrencies among Chinese investors, market players from Asia to New York said.
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Federal Communications Commission chairman Ajit Pai on Wednesday circulated a draft order that would grant approval to the $26 billion tie-up of T-Mobile Us Incand Sprint Corp.
Ford Motor Co said on Wednesday it is extending warranty on clutch and related hardware in certain of its Focus and Fiesta cars due to complaints related to the vehicles’ transmission from several customers.
Novartis said on Wednesday the two top research & development executives at its Avexis unit were no longer at the company after some data from early testing of Avexis’s more than $2-million gene therapy Zolgensma was manipulated.
When the U.S. Federal Reserve cut interest rates last month for the first time in more than a decade, it signaled that further reductions in borrowing costs might not be needed. Bond markets vehemently disagree.
China’s Tencent Holdings , the world’s largest gaming company by revenue, warned on Wednesday of a difficult economic environment even as it reported a better-than-expected 35% jump in quarterly profit.
Wall Street main indexes slid 1.5% on Wednesday, as a closely watched U.S. bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.
Macy’s Inc Chief Executive Officer Jeff Gennette said on Wednesday that the department store chain would not raise prices on products if the Trump administration goes ahead with its latest 10% tariffs.
WeWork owner The We Company on Wednesday published detailed financial statements for the first time, showing it lost more than $900 million in the first half of 2019 while revenue doubled, as it steps up preparations for an initial public offering next month.
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