Business & Finance News
Saudi Aramco has delayed the planned launch of its initial public offering (IPO), as the giant oil company wants to update investors with its latest earnings before proceeding, two sources familiar with the matter said on Thursday.
Wall Street banks believe they are getting a green light from supervisors to hold more Treasury debt and less cash after last month’s volatility in overnight lending markets, three industry sources told Reuters.
Wall Street advanced on Thursday as investor sentiment was buoyed by a string of corporate earnings beats and encouraging geopolitical developments.
Oil prices rose about 1% on Thursday after draws in U.S. fuel inventories, but gains were capped by a larger-than-expected rise in crude stockpiles and a series of weak economic figures.
The United Auto Workers union wrung higher pay and other benefits from General Motors Co as part of a tentative deal to end a month-long U.S. strike by about 48,000 workers, the union disclosed on Thursday.
Toyota Motor Corp’s North America unit said on Thursday it was conducting the final phase of a safety recall to replace potentially faulty Takata airbag inflators in about 928,000 vehicles.
France’s Renault on Thursday cut its revenue guidance for 2019 further and lowered its profitability forecast, citing difficulties in markets such as Turkey and Argentina as carmakers grapple with a broad-based slump in auto sales.
Several U.S. boutique investment banks are looking to hire senior staff in Paris in the wake of Britain’s departure from the EU and have poached bankers from France’s most established advisory firms, including Lazard, sources told Reuters.
Wall Street gained ground on Thursday as positive geopolitical developments and a string of corporate earnings beats put investors in a buying mood.
Saudi Aramco has delayed the planned launch of its initial public offering, the Financial Times reported on Thursday, citing three people familiar with the matter.
A buyout consortium led by Blackstone sent a frisson through debt markets this week as it took advantage of a booming appetite for bonds to push through aggressive terms on financing for its leveraged buyout of Merlin Entertainments.
A gap is emerging in the U.S. liquefied natural gas (LNG) industry as big players such as Exxon Mobil Corp and Cheniere Energy Inc race ahead to build export terminals with fewer long-term contracts, while smaller developers struggle to find financing for their first plants.
U.S. stocks rose on Thursday on the back of strong earnings from Netflix and Morgan Stanley, with Britain’s preliminary last-minute deal with the European Union adding to the upbeat mood.
Railroad operator Union Pacific Corp on Thursday reported quarterly profit that missed analysts’ estimates and said it would cut capital spending and jobs as the multi-front U.S. trade war worsens an industry-wide freight volume slump.
The U.S. National Transportation Safety Board (NTSB) will hold a Nov. 19 hearing to determine the probable cause of a March 2018 Uber Technologies Inc self-driving vehicle crash that killed a pedestrian in Arizona.
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