Business News
Morgan Stanley CEO declares broker recruiting wars over
A subtle peace has emerged in Wall Street’s long-running broker recruiting wars, Morgan Stanley Chief Executive Officer James Gorman said on Wednesday.
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Business News
Amazon.com’s stock market value hits $900 billion, threatens Apple
Amazon.com’s stock market value reached $900 billion on Wednesday for the first time, marking a major milestone in its 21-year trajectory as a publicly listed company and threatening to dislodge Apple as Wall Street’s most valuable jewel.
Business News
S&P hovers at five-month highs, Amazon hits $900 billion market cap
The benchmark S&P 500 remained at five-month highs on Wednesday as a rise in financial and industrial stocks due to strong earnings from marquee companies were offset by a drop in technology stocks.
Business News
Novartis hints at 2018 outlook hike despite drug price freeze
Novartis may ratchet up its 2018 sales outlook, its finance chief said on Wednesday, despite halting planned U.S. drug price hikes amid pressure on the industry from President Donald Trump’s administration over the high cost of medicines.
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FTC Chair Says Commission ‘Very Interested’ in EU’s Google Fine
The chairman of U.S. Federal Trade Commission said Wednesday that the agency is “very interested” in learning more about the European Union’s record fine of Google. “We’re going to read what the EU put out very closely,” said FTC Chairman Joseph Simons, while noting the U.S. and EU have different antitrust regimes. “In the antitrust world, most of the problematic conduct occurs where firms are big and have market power,” Simons said. …read more […]
Business News
Berkshire shares climb after Buffett is empowered to buy back more stock
Berkshire Hathaway Inc shares rose on Wednesday after its board gave its billionaire chairman, Warren Buffett, more freedom to conduct stock buybacks, which the conglomerate has not done since 2012.
Business News
Boeing in talks with Airbus, others for German helicopter bid
Boeing Co is in talks with Airbus and other companies about joining its bid for a 4 billion euro ($4.7 billion) heavy-lift helicopter contract in Germany, the head of business development for Boeing’s defence unit said on Wednesday.
Business News
Trump says U.S. may pursue separate trade deal with Mexico
President Donald Trump said on Wednesday the United States may hammer out a separate trade deal with Mexico, continuing to sow doubts about the future of the North American Free Trade Agreement that he has frequently criticized, and then do a deal with Canada later.
Business News
Ryanair says biggest-ever strike to ground 600 flights next week
Ryanair is to cancel more than 12 percent of its flights for two days next week in its biggest-ever strike as cabin crew escalate a staff revolt that began among disaffected pilots last year.
Business News
Two become one? Planemakers work on tech to cut pilot numbers
Airplane manufacturers are working to adapt jets to reduce the number of pilots needed for long-haul flights and to build new cockpits designed for a single aviator in order to ease a global pilot shortage and cut airline costs.
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OPEC, non-OPEC compliance with oil cuts fall to around 120 pct in June – sources
OPEC and non-OPEC’s compliance with oil output curbs has declined to around 120 percent in June from 147 percent in May, two sources familiar with the matter told Reuters on Wednesday. OPEC and non-OPEC countries agreed to gradually bring compliance back to 100 percent at a meeting at the end of June. The move is designed to add more barrels to the market and reduce upward pressure on oil prices after unexpected outages in Venezuela and Libya pushed compliance to record high levels. …read more […]
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What Amazon lost (and made) on Amazon Prime Day
Amazon Prime Day is over, and what a ride it was this year. Widespread …read more […]
Business News
Fed’s Powell quizzed again on trade risks by U.S. House
Federal Reserve Chairman Jerome Powell, questioned by members of a House congressional committee, repeated on Wednesday that rising world protectionism would over time pose a risk to a U.S. and global expansion that appears largely on track to continue.
Business News
Goldman sees U.S. two-month bill introduced in November
Goldman Sachs analysts said on Wednesday the U.S. government would likely introduce a two-month bill issue at the November refunding and begin raising the auction size of five-year notes by a greater amount than its recent increase.
Business News
Factbox: Airbus and Boeing aircraft deals at Farnborough Airshow
Following is a summary of commercial aircraft deals announced by Airbus and Boeing at the Farnborough Airshow in southern England.