Business News
Trading Trump: Wall Street stresses over White House comments
JPMorgan Chase & Co’s trading desk was not buying what U.S. President Donald Trump was selling this week.
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Business News
France fines washing machine makers $214 million for price rigging
France’s competition authority on Thursday fined six home appliance makers a total of 189 million euros ($214 million) for price-rigging in 2006 and 2009, the largest penalty it has handed out so far this year.
Business News
Futures tumble as China executive arrest threatens trade truce
U.S. stock index futures fell more than 1.5 percent on Thursday, as the arrest of a top executive of Chinese tech giant Huawei for extradition to the United States sparked fears of a flare-up in Sino-U.S. tensions, while sliding oil prices added to the pressure.
Business News
Global stocks slump on China executive arrest, oil spills into OPEC
Global stock markets slumped for a third day running on Thursday as the arrest of a top executive of Chinese tech giant Huawei in Canada for extradition to the United States fed fears of fresh tensions between the two economic superpowers.
Business News
U.S. appeals court to hear arguments to stop AT&T purchase of Time-Warner
The U.S. Justice Department goes before an appeals court on Thursday to urge a three-judge panel to overturn a lower court ruling and order wireless carrier AT&T Inc to undo its $85.4 billion purchase of entertainment company Time Warner, one of the largest media mergers ever.
Business News
Ride-hailing firm Lyft Inc files for IPO
Ride-hailing company Lyft Inc on Thursday filed with the U.S. Securities and Exchange Commission for an initial public offering, ending months of speculation about the timing of its much-awaited market debut.
Business News
Fed up with Facebook, U.S. fund managers look for alternatives
Facebook Inc’s losses are becoming other companies’ gains.
Business News
Volkswagen to cut another $3.4 billion in costs to boost margins
Volkswagen announced another 3 billion euros ($3.4 billion) of cost cuts on Thursday in an effort to speed up an improvement in profit margins at its core VW brand.
Business News
Former Tesco directors cleared of fraud over 2014 accounting scandal
Two former directors of Tesco were acquitted on Thursday of fraud and false accounting at Britain’s biggest retailer following a 2014 scandal.
Business News
Oil tumbles 5 percent after OPEC hints at smaller output cut
Oil lost nearly 5 percent on Thursday, after OPEC signaled it may agree to a smaller output cut than expected and as concern over the economic impact of trade tensions hit global stocks.
Business News
Arrest of Huawei ‘heiress’ throws rare spotlight on family
Like many top Chinese executives, Meng Wanzhou is a mysterious figure even in her home country, but the 46-year-old chief financial officer of Huawei Technologies had been widely tipped to one day take the helm of the tech giant her father founded.
Business News
Former Tesco directors cleared of fraud, false accounting
Two former directors of Tesco were acquitted on Thursday of fraud and false accounting at Britain’s biggest retailer in 2014.
Business News
Bombardier expects to deliver up to 155 business aircraft in 2019
Canadian plane and train maker Bombardier Inc said on Thursday it expects to deliver 150 to 155 business aircraft in 2019.
Business News
OPEC oil cuts at risk as Russia yet to commit
OPEC and its allies are working towards cutting oil output by up to 1.5 million barrels per day but could fail to reach a deal if no compromise is found with non-OPEC Russia, the Saudi energy minister said on Thursday.
Business News
Volkswagen to seek 3 billion euro savings between 2020 and 2023
German carmaker Volkswagen on Thursday said it will extend a cost savings and efficiency program at its core brand beyond 2020 and seek an additional 3 bln euros in cost savings by 2023.