Business & Finance News
SoftBank Group Corp agreed to spend more than $10 billion to take over WeWork, doubling down on an ill-fated investment and paying off its co-founder Adam Neumann to relinquish control, people familiar with the matter said on Tuesday.
U.S. home sales fell more than expected in September as the market continues to struggle with a dearth of properties for sale, especially for cheaper homes.
Stocks on world markets eked out small gains on Tuesday after some upbeat corporate results and talk of progress in China-U.S. trade talks, while sterling weakened as investors awaited further news on Britain’s eventual exit from the European Union.
Exxon Mobil Corp on Tuesday was due to face trial in a lawsuit by New York’s attorney general accusing it of misleading investors about the risks of climate change regulations to its business.
SoftBank Group Corp agreed to spend more than $10 billion to take over WeWork, doubling down on an ill-fated investment and paying off its co-founder Adam Neumann to relinquish control, people familiar with the matter said on Tuesday.
U.S. companies are responding to the lowest unemployment rate in almost 50 years by increasing their focus on automation in order to maintain healthy margins as labor costs tick higher, a Reuters analysis of corporate earnings transcripts shows.
A U.S. prosecutor on Tuesday called Turkey’s Halkbank a “fugitive” after it failed to make an initial court appearance in a criminal case accusing it of conspiring to violate U.S. sanctions against Iran.
OPEC and its allies will consider whether to deepen cuts to crude supply when they next meet in December due to worries about weak demand growth in 2020, sources from the oil-producing club said.
India’s No.2 software services exporter, Infosys Ltd , is probing whistleblower complaints that its top two executives engaged in “unethical practices” to boost short-term revenue and profit, sending its shares down 16% on Tuesday.
The S&P 500 rose on Tuesday, bolstered by gains in Biogen and upbeat earnings reports that eased concerns over the fallout from the U.S.-China trade war, but the Dow Jones index was pressured by a drop in McDonald’s and Travelers.
Lockheed Martin Corp raised its estimate for 2019 earnings on Tuesday as quarterly profit climbed 9.2% amid improved sales of its F-35 fighter jets, sending shares higher even as it forecast a lower cash flow for next year.
McDonald’s Corp missed Wall Street estimates for profit for the first time in two years on Tuesday as more investment to spruce up U.S. restaurants and speed up delivery weighed on the world’s biggest fast food chain, sending its shares down 3%.
Boeing Co is making progress toward getting its 737 MAX aircraft in the air again but the U.S. Federal Aviation Administration (FAA) will need at least several more weeks for review, FAA Administrator Steve Dickson said on Tuesday.
U.S. home sales fell more than expected in September as the market continues to struggle with a dearth of properties for sale, especially for cheaper homes.
Oil prices rose on Tuesday after China signaled progress in trade talks with the United States, but gains were capped by bearish forecasts of a buildup in U.S. crude stockpiles.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
