Business News
Rise in Treasury yields weighs on Wall St.
U.S. stock markets were on course to dip at opening on Wednesday, as the focus shifted away from a trade spat with China to rising Treasury yields.
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AutoNation’s Mike Jackson to step down as CEO next year
AutoNation Inc’s longtime Chief Executive Officer Mike Jackson will step down from the role next year but remain executive chairman until 2021, the largest U.S. auto retail chain said on Wednesday.
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China says won’t weaken currency to boost exports, as U.S. tariffs mount
China will not stoop to competitive devaluation of its currency, Premier Li Keqiang stressed, hours after China hit back, with a softer punch than the one landed by the United States, in an escalating tariff war between the world’s largest economies. “One-way depreciation of the yuan brings more harm than benefits for China,” he said. China will not do that to chase “thin profits” and “a few small bucks”. …read more […]
Business News
Mars aims to tackle ‘broken’ cocoa model with new sustainability scheme
Mars Wrigley Confectionery launched a new sustainability strategy on Wednesday with the aim of combating deforestation, child labor and poverty in what it called the “broken” cocoa supply chain.
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The Zacks Analyst Blog Highlights: Apple, Fitbit, Cisco Systems, Qualcomm and Micron Technology
The Zacks Analyst Blog Highlights: Apple, Fitbit, Cisco Systems, Qualcomm and Micron Technology …read more […]
Business News
China says won’t weaken currency to boost exports, as U.S. tariffs mount
China will not stoop to competitive devaluation of its currency, Premier Li Keqiang stressed, hours after China hit back, with a softer punch than the one landed by the United States, in an escalating tariff war between the world’s largest economies.
Business News
KPMG admits misconduct on BNY Mellon reports, says watchdog
KPMG and one of its partners have admitted to serious failings in compliance reports for Bank of New York Mellon , Britain’s accountancy watchdog said, potentially leading to heavy fines as the auditor comes under unprecedented scrutiny.
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The original PlayStation is coming back in miniature form with 20 classic games pre-loaded
PlayStation is launching a miniature version of its original PlayStation console in December. The PlayStation Classic will be about 45% smaller than its original counterpart. PlayStation just hit the nostalgia button — big time. …read more […]
Business News
Toshiba Memory chief shrugs off price concerns, sticks with IPO plans
The chief executive of Toshiba Memory Corp, the world’s No. 2 producer of NAND flash memory chips, on Wednesday brushed aside concerns about falling memory chip prices and reaffirmed the company’s plan to go public in two to three years.
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Can CenturyLink's Dividend Even Survive?
It’s all about the cash flows. …read more […]
Business News
EU says McDonald’s, Luxembourg tax deal not illegal
McDonald’s tax deal with Luxembourg did not breach EU state aid rules, EU antitrust regulators ruled on Wednesday, saying the reason the U.S. fast food chain did not pay some taxes was due to the mismatch between U.S. and Luxembourg laws.
Business News
Luxembourg welcomes EU ruling on Mcdonald’s taxes
Luxembourg welcomed on Wednesday the European Commission’s ruling that its tax deal with McDonald’s was not illegal after a three-year long investigation.
Business News
SAP, Alibaba team up on cloud services
SAP SE , the German business software company, said on Wednesday it was teaming up with Alibaba to offer its flagship products on the Chinese company’s cloud infrastructure.
Business News
World stocks bat aside trade war fears, rally for second day
Global equities rallied for a second straight day on Wednesday while safe-haven assets such as U.S. bonds and the Japanese yen slipped to multi-week lows as investors bet the escalating U.S.-China trade spat would inflict less damage than feared.
Business News
China’s Alibaba doubles down on chips amid cloud computing push
Alibaba Group Holding Ltd will set up a dedicated chip subsidiary and aims to launch its first self-developed AI inference chip in the second half of 2019 that could be used for autonomous driving, smart cities and logistics.