Business & Finance News
Billionaire investor Carl Icahn said on Wednesday he had sold his entire equity position in Hertz Global Holdings Inc at a “significant loss”, days after the car rental pioneer filed for bankruptcy protection.
JPMorgan Chase & Co’s head of its corporate and investment banking division said second-quarter revenues are on track to be up more than 50% higher than the same period last year, thanks to extremely strong fixed income and equities trading revenues.
U.S. luxury homebuilder Toll Brothers Inc on Wednesday withdrew its full-year forecast and warned it would not provide such guidance for the foreseeable future due to uncertainty caused by the COVID-19 pandemic.
Micron Technology Inc raised its revenue forecast for the third quarter on Wednesday to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion, sending its shares about 3% higher.
Boeing Co on Wednesday said it has resumed production of its 737 MAX passenger jet at the company’s Renton, Washington, plant at a “low rate” after halting production in January following two crashes that killed 346 people.
United Airlines Holdings Inc said on Wednesday that Jon Roitman will be replacing Greg Hart as chief operations officer effective June 1 as part of an internal management reshuffle to prepare the airline for the near-term uncertainty of travel demand.
Japanese automaker Nissan Motor Co said Wednesday it plans to begin restarting its shuttered U.S. manufacturing operations beginning June 1.
U.S. stocks rose on Wednesday, with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.
Boeing Co said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic.
Top fund manager BlackRock Inc on Wednesday said it cast an advisory vote in favor of an independent chairman at Exxon Mobil Corp and cast votes against the reelection of two directors over the company’s approach to climate risks.
Top fund manager BlackRock Inc on Wednesday said it cast an advisory vote in favor of an independent chairman and against the reelection of two directors at Exxon Mobil Corp over the company’s approach to climate risks.
A group of 23 U.S. states and the District of Columbia filed a lawsuit on Wednesday challenging a Trump administration decision to weaken Obama-era fuel efficiency standards.
Shares of biotechs racing to make coronavirus vaccines, including Moderna Inc , fell about 10% on Wednesday, as investor concerns grew about the prospects of the experimental products that are still in early stages of development.
The euro and equity markets advanced on Wednesday as enthusiasm for the European Union’s plans for a 750 billion euro ($823 billion) recovery fund offset concerns about unrest in Hong Kong over Beijing’s proposed national security laws.
Huawei Technologies Co’s Chief Financial Officer Meng Wanzhou was dealt a setback by a Canadian court on Wednesday as she tries to avoid extradition to the United States to face bank fraud charges.
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