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.
Oil prices fell on Wednesday on weak global economic data and a rise in U.S. crude inventories, almost erasing the previous session’s strong gains which followed the United States’ move to delay tariffs on some Chinese products.
U.S. stocks fell at open on Wednesday, as a closely-watched bond market indicator pointed to a renewed risk of recession, undoing gains from the previous session due to a retreat by Washington on its latest tariffs on Chinese goods.
Macy’s Inc cut 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 heavily to clear spring inventory, sending its shares down 17%.
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Swiss drugmaker Novartis has named company veteran Victor Bulto as head of its U.S. pharmaceuticals business, effective on Sept. 1.
WeWork owner The We Company on Wednesday filed with regulators for an initial public offering and published detailed financial statements for the first time that showed it lost almost $700 million in the first half of 2019 while doubling revenue.
Oil prices fell on Wednesday on weak economic data from China and Europe and a rise in U.S. crude inventories, almost erasing the previous session’s sharp gains after the United States said it would delay tariffs on some Chinese products.
Unions representing Ryanair cabin crew in Spain on Wednesday announced plans to hold 10 days of strikes in September unless the Irish airline changes its plans to close several bases in the country.
Macy’s Inc reported a 48% fall in quarterly profit and cut its forecast for full-year adjusted earnings on Wednesday, as the department store operator discounted heavily to clear excess inventory, sending its shares down 13%.
Wall Street was set to open lower on Wednesday, as poor economic data from China and Germany put the focus back on the impact of a bruising Sino-U.S. trade war which is pushing some major economies toward the brink of recession.
WeWork owner The We Company on Wednesday filed with regulators for an initial public offering and published detailed financial statements for the first time that showed it lost almost $700 million in the first half of 2019 while doubling revenue.
Stock markets slumped on Wednesday as Germany’s economy went into reverse, fuelling fears of global recession and slamming the brakes on a rally for equities after Washington delayed tariffs on some Chinese imports.
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