Bitcoin jumped to an 18-month high on Wednesday, as investors looked for safety in alternative investments amid geopolitical tension, and cheered prospects that Facebook Inc’s Libra token could push cryptocurrencies into the mainstream.
The machinists union said on Wednesday it opposes a tentative labor contract reached this week with General Electric Co, potentially impeding the Boston-based conglomerate’s efforts to avoid labor unrest during a difficult period.
Technology shares led the S&P 500 and the Nasdaq higher on Wednesday after remarks by Treasury Secretary Steven Mnuchin rekindled hopes for a de-escalation of U.S.-China trade tensions and brought buyers back from the sidelines.
Chemicals giant Bayer, under pressure from activist shareholders, said on Wednesday it has hired an external lawyer to advise its supervisory board and has set up a new committee to resolve a multi-billion dollar glyphosate litigation issue.
Oil prices rose more than 2% on Wednesday and hit their highest in about a month, buoyed by U.S. government data that showed a larger-than-expected drawdown in crude stocks as exports hit a record high, and surprise drops in refined product stockpiles.
Wall Street rose on Wednesday, as technology shares gained on the back of Micron’s upbeat results, while comments from Treasury Secretary Steven Mnuchin fueled hopes that the United States and China were making progress in their trade talks.
Shares of U.S. health insurers that have rebounded in the past two months could come under pressure this week as Democrats square off in their first presidential debates, with healthcare policy reform potentially high on the agenda.
Mike Lynch, once hailed as Britain’s answer to Bill Gates, denied all claims against him on Wednesday when he kicked off what is expected to be a month-long testimony in his multibillion-dollar fraud battle with Hewlett-Packard (HP).
New orders for long-lasting U.S.-made goods fell for a second straight month in May as troubles at Boeing weighed on demand for aircraft, suggesting manufacturing could remain weak even as business spending on equipment appears to stabilize.
EU antitrust regulators want U.S. chipmaker Broadcom to scrap its exclusivity clauses with TV and modem makers to avoid irreparable harm to the market while they investigate whether this tactic and others are designed to block rivals.
Tesla Inc’s vice president of production at its Fremont factory, Peter Hochholdinger, has left after three years with the electric-car maker, a source familiar with the matter told Reuters.
Volkswagen’s truck unit Traton narrowed the price range for its initial public offering (IPO) to between 27 euros ($30.74) and 28 euros a share, the lower end of its earlier 27 euros to 33 euros price range, a bookrunner said on Wednesday.
U.S. stocks rose on Wednesday as gains in chipmaker Micron boosted the technology sector and comments from Treasury Secretary Steven Mnuchin fueled hopes that the United States and China were making progress in their trade talks.
General Mills Inc’s quarterly sales fell short of Wall Street estimates on Wednesday, hurt by lower demand for its Nature Valley and Fiber One snack bars, sending its shares down as much as 10%.
The dollar rose and European shares fell on Wednesday as traders scaled back expectations of an aggressive cut in U.S. interest rates in July, while Wall Street rose on hopes of a China-U.S. trade breakthrough at the G20 summit later this week in Japan.
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