Business & Finance News
International Business Machines Corp beat analysts’ estimates for third-quarter profit on Wednesday, benefiting from growth in its high-margin cloud-computing business.
Wall Street lost ground on Wednesday as weak U.S. economic data and simmering geopolitical tensions spooked buyers away from the equities market, despite a string of generally positive third-quarter earnings reports.
Air Canada said on Wednesday it had removed Boeing Co’s 737 MAX planes from flight schedules until Feb. 14, citing uncertainty around the aircraft’s return to service.
Teva Pharmaceuticals is in talks to contribute over $15 billion worth of drugs as part of a settlement to resolve lawsuits alleging it helped fuel the U.S. opioid crisis, a source familiar with the matter told Reuters on Wednesday.
Oil rose about 1.4% on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories.
General Motors Co and the United Auto Workers union reached a tentative deal on Wednesday for a new four-year labor deal, moving closer to ending a costly month-long strike that shut down GM’s most profitable factories in a test of wills over the future of U.S. auto industry jobs.
U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy, keeping the door open for the Federal Reserve to cut interest rates again later this month.
The benchmark S&P 500 stock index edged lower on Wednesday as weak U.S. economic data and simmering geopolitical tensions spooked buyers away from the equities market, despite a string of generally positive third-quarter corporate earnings reports.
Fiat Chrysler Automobiles NV faces a $79 million U.S. civil penalty for failing to meet 2017 fuel economy requirements, the automaker confirmed Wednesday.
Boeing Co Chief Executive Dennis Muilenburg told employees he was “fully supportive” of the board’s decision to split his chairman and CEO roles, allowing him to focus on running the world’s largest planemaker, according to a memo seen by Reuters on Wednesday.
Chinese telecoms manufacturer Huawei Technologies [HWT.UL] sought on Wednesday to assuage European concerns that it is a cyber security risk, saying it wants to help make the continent a world leader in next generation mobile networks.
T-Mobile US Inc’s proposed $26.5 billion tie-up with Sprint Corp won formal approval from the Federal Communications Commission on Wednesday in a vote split along party lines, two sources told Reuters.
A gauge of world stock markets was flat on Wednesday as U.S. data that raised concerns about a slowing economy was offset by a solid start to earnings season, while sterling was volatile as negotiations on a Brexit deal continued.
General Motors Co and the United Auto Workers union reached a tentative deal on Wednesday for a new four-year labor deal, moving closer to ending a costly month-long strike that shut down GM’s most profitable factories in a test of wills over the future of U.S. auto industry jobs.
Boeing Co Chief Executive Dennis Muilenburg told employees in a memo seen by Reuters on Wednesday that he was “fully supportive” of the board’s decision to split his chairman and CEO roles, allowing him to focus on running the world’s largest planemaker.
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