Business News
Trump’s tariffs on metals costs Ford $1 billion, CEO says
Steel and aluminum tariffs imposed by the Trump administration has cost Ford Motor Co about $1 billion, its chief executive officer said on Wednesday.
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Business News
Merck’s Frazier to remain CEO of the U.S. drugmaker beyond 2019
Merck & Co Inc Chief Executive Officer Kenneth Frazier will remain in the role beyond 2019, the drugmaker said on Wednesday, after it scrapped a policy requiring its CEOs to retire at the age of 65.
Business News
World trade’s top court close to breakdown as U.S. blocks another judge
The supreme court of world trade is close to breakdown after the United States turned down a last-ditch petition to reappoint one of the four remaining judges at the World Trade Organization.
Business News
Kaepernick boost just doesn’t do it for Nike
Nike shares fell 3 percent on Wednesday as the sportswear maker stopped short of raising its financial forecast even as sales received a boost from a controversial ad campaign featuring former NFL player Colin Kaepernick.
Currencies
“Economy in Seventh Inning”: Ray Dalio
Ray Dalio, explains his economic theories, and says economy still has room to expand, but downturn is likely within 2 years. Dalio explains the recent $USD rally, and his concerns about rising Federal deficit, and […]
Business News
U.S. new home sales rebound, but trend weakening
Sales of new U.S. single-family homes rebounded in August after two straight monthly declines, but the underlying trend still pointed to a weakening housing market against the backdrop of rising mortgage rates and higher home prices.
Business News
Uber settles for $148 million with 50 U.S. states over 2016 data breach
Uber Technologies Inc has settled with the top legal officers in all 50 U.S. states over a massive data breach that the company failed to disclose in 2016, resolving one of the more catastrophic embarrassments that have engulfed the ride-hailing company over the last couple of years.
Business News
China leads world stocks higher ahead of Fed rate decision
An advance in Chinese equity markets set a modestly positive tone for world stocks on Wednesday, despite continued trade tensions with the United States, as investors awaited an expected interest rate increase by the U.S. Federal Reserve.
Business News
Health stocks lift Wall Street as banks dip ahead of expected rate hike
Healthcare stocks helped prop up Wall Street on Wednesday, although banks slipped ahead of a widely expected interest rate hike by the U.S. Federal Reserve.
Business News
WTO enters judicial drought as U.S. blocks another judge
The supreme court of world trade will be running on fumes from the end of this month after the United States turned down a last-ditch petition to reappoint one of the four remaining judges at the World Trade Organization.
Business News
Rupert Murdoch’s Fox to sell Sky stake to Comcast
Twenty-First Century Fox agreed to sell its stake in Sky to Comcast , securing the U.S. cable group’s $40 billion takeover of its European peer and ending Rupert Murdoch’s relationship with the UK-based broadcaster.
Business News
Oil eases, but Iran sanctions keep Brent above $80 a barrel
Oil prices eased on Wednesday after U.S. data showed a surprise build in domestic crude inventories, but an impending drop in Iranian exports kept Brent futures above $80 a barrel and on track for a fifth straight quarterly gain.
Business News
U.S. business asks British PM May: how bad can Brexit get?
British Prime Minister Theresa May was reminded of how worried businesses are about Brexit on Wednesday when a rallying speech to executives in New York was met with a single stark question from the floor – just how bad can things get?
Business News
U.S. new home sales rebound in August, but trend softening
Sales of new U.S. single-family homes rebounded in August after two straight monthly declines, but the underlying trend still pointed to a weakening housing market against the backdrop of rising mortgage rates and higher home prices.
Business News
Canada PM says won’t be rushed on NAFTA, new deal not guaranteed
Canadian Prime Minister Justin Trudeau on Wednesday said he would not be rushed into renewing NAFTA and indicated it was possible the three member nations might fail to conclude a new pact.