Business & Finance News
Huawei Technologies Co Ltd started taking orders on Wednesday in China for its eagerly awaited foldable smartphone, as it ramps up marketing at home to make up for weak overseas sales amid U.S. trade sanctions.
Oil prices declined on Wednesday, holding below $60 a barrel on data showing a bigger-than-expected rise in U.S. crude stocks, but the prospect of deeper output cuts by OPEC and its allies offered support.
Huawei Technologies Co Ltd launched its foldable 5G Mate X smartphone on Wednesday, starting pre-sales for the device in China on the same day.
Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said.
Oil fell on Wednesday after climbing over 1% in the previous session as U.S. industry data showed a bigger-than-expected build in crude stocks, but the possibility of deeper output cuts from OPEC and its allies prevented a further decline.
Toyota Motor’s Lexus will launch its first all-battery electric vehicle next year, as the luxury brand races to market a battery-operated car amid growing competition to develop zero-emissions vehicles, the head of the brand said on Wednesday.
Biogen Inc revived plans on Tuesday to seek U.S. approval for Alzheimer’s treatment aducanumab, surprising investors and saying data from more patients in two discontinued studies showed the drug reduced the decline of patients.
Oil fell on Wednesday after gaining over 1% in the previous session as U.S. industry data showed a bigger-than-expected build in crude stockpiles, but the possibility of deeper output cuts from OPEC and its allies contained the decline.
Shares of SoftBank Group Corp fell 3% in morning trade on Wednesday as the tech conglomerate agreed to spend more than $10 billion to take over beleaguered office-space sharing startup WeWork, adding to its financial pressures.
U.S. stock futures and Asian shares slipped on Wednesday as revenue warnings from Texas Instruments raised worries about the global tech sector and after British lawmakers forced the government to hit the pause button on the latest Brexit deal.
Morgan Stanley has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO – Hong Kong’s second-largest this year – in an unusually brutal shuffling of banks’ roles on a big deal.
SoftBank Group Corp agreed to spend more than $10 billion to take over U.S. office-space sharing startup WeWork on Tuesday, doubling down on an ill-fated investment and paying off its co-founder Adam Neumann to relinquish control.
A former top official of the United Auto Workers union pleaded guilty on Tuesday to federal charges of financial misconduct while about 48,000 UAW members voted on whether to end a nearly five-week walkout at GM.
Shares of SoftBank Group Corp fell 2% in early trade on Wednesday as the tech conglomerate moved to take over beleaguered office-space sharing startup WeWork with a funding injection of more than $10 billion.
Asian shares and U.S. stock futures dipped on Wednesday after British lawmakers rejected the government’s timetable to fast-track legislation for its deal to take Britain out of the European Union.
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