Business News
Tesla to cut 9 percent of jobs: Bloomberg
(Reuters) – Tesla Inc is planning to cut about 9 percent of jobs across the company, Bloomberg reported on Tuesday.
Articles by admin
Business News
Wells Fargo workers push for more board access, so far in vain
(Reuters) – A labor-backed group is stepping up pressure on Wells Fargo & Co to add an employee to a council that has the ear of the bank’s board and management, arguing workers deserve a voice as Wells Fargo works to get past a damaging scandal over sales practices.
Business News
Wall Street edges higher with focus on Fed
(Reuters) – U.S. stocks edged higher on Tuesday, with help from Twitter and media stocks, as investors looked past a historic U.S.-North Korea summit and focused on the Federal Reserve’s policy meeting.
Business News
As millennials age, more U.S. companies look ahead to Generation Z
NEW YORK (Reuters) – After a decade of focusing on the so-called millennial generation, some U.S. companies are starting to look ahead to what’s next.
Business News
New York top court narrows Martin Act in $11 billion Credit Suisse case
NEW YORK (Reuters) – New York’s highest court on Tuesday curbed the state attorney general’s ability to fight fraud on Wall Street, awarding a victory to Credit Suisse Group AG as it tries to end an $11 billion lawsuit over risky mortgage securities.
Business News
L’Oreal to appeal after UK setback in haircare patent row
PARIS (Reuters) – L’Oreal , maker of brands like Lancome and Maybelline, said on Tuesday it would seek to appeal a British court ruling favoring a U.S. start-up that accuses the French cosmetics giant of infringing its patent on a haircare product.
Trading Ideas
Bipartisan Senate effort aims to override Trump’s deal to save ZTE
A bipartisan group of Senators has added language to the National Defense …read more […]
Business News
Wall Street edges higher as focus shifts to Fed
(Reuters) – U.S. stocks posted small gains on Tuesday as investors focused on the Federal Reserve’s policy meeting, while looking past President Donald Trump’s historic summit with North Korean leader Kim Jong Un.
Trading Ideas
Acacia says ZTE business to remain suspended until ban lifted
The Chinese company reached a $1.4 billion settlement with the Commerce Department, made public on Monday, to resume business with U.S. suppliers. ZTE said on Tuesday its shares would resume trading on the Hong Kong stock exchange on June 13 following its settlement with the United States. Acacia said the settlement may ultimately allow it to resume ties with ZTE. …read more […]
Business News
U.S. SEC charges Bank of America subsidiary $15 million for RMBS trader lapses
WASHINGTON (Reuters) – The Securities and Exchange Commission on Tuesday said Bank of America subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc. will pay $15 million to settle charges that staff misled clients into overpaying for Residential Mortgage Backed Securities (RMBS).
Business News
China’s ZTE to resume trading after $1.4 billion U.S. settlement
HONG KONG (Reuters) – ZTE Corp said trading in its shares would resume on Wednesday, ending a two-month suspension, after the Chinese telecommunications giant agreed to pay up to $1.4 billion in penalties to the U.S. government and radically overhaul its management.
Business News
VW board to discuss prosecutors’ probe into Audi CEO on Monday
HAMBURG/BERLIN (Reuters) – Volkswagen’s supervisory board will on Monday discuss German prosecutors’ investigation into the head of its Audi brand, as the carmaker weighs up how to tackle the latest fallout from its 2015 emissions scandal, sources said.
Business News
New York’s top court narrows Martin Act in $11 billion Credit Suisse case
NEW YORK (Reuters) – New York State’s highest court on Tuesday narrowed the reach of a powerful law used by the state’s attorney general to fight financial fraud, handing a partial victory to Credit Suisse Group AG in an $11 billion lawsuit over defective mortgage securities.
Business News
Bank of America executive sees consumer unit’s efficiency ratio flat to down
(Reuters) – Bank of America Corp’s co-head of consumer and business banking said on Tuesday he expects the consumer banking unit’s efficiency ratio to remain flat or improve further as it cuts more costs tied to moving physical checks and cash.
Trading Ideas
The Truth Behind iQIYI, Inc’s Multibagger Potential
China internet stocks are hot. The likes of Alibaba Holdings Ltd (NYSE:BABA), Tencent Holding/ADR (OTCMKTS:TCEHY), Baidu Inc (ADR) (NASDAQ:BIDU) and others have rallied well over 100% over the past several years. But, as noteworthy as these stocks may be, iQIYI, Inc (NASDAQ:IQ) is one freshly public Chinese internet stock that has staged a 100%-plus rally in a much shorter time frame, and it is arguably the most talked about Chinese internet stock today. …read more […]