Business & Finance News
Italian Industry Minister Stefano Patuanelli said on Tuesday he believed a binding offer for struggling airline Alitalia could be presented by an Oct. 15 deadline, saying the date would not be shifted again.
U.S. stocks briefly cut losses in choppy trading on Tuesday after Federal Reserve Chairman Jerome Powell suggested openness to further rate cuts and said the time has come to allow the Fed’s asset holdings to begin to expand again.
U.S. and European Union regulators said on Tuesday they were still reviewing Boeing Co’s changes to 737 MAX software after two fatal crashes, throwing into question the speed at which the grounded aircraft can return to service.
U.S. producer prices unexpectedly fell in September, leading to the smallest annual increase in nearly three years, likely giving the Federal Reserve further room to cut interest rates for the third time this year in October.
The Federal Aviation Administration (FAA) said on Tuesday it is continuing to review software changes to the now grounded Boeing 737 MAX and has no firm date for completing the effort.
Federal Reserve chairman Jerome Powell on Tuesday flagged openness to further rate cuts amid global economic risks, and said the time to allow the Fed’s asset holdings to begin to expand again “is now upon us” in order to ensure money markets function smoothly.
Venezuelans on Tuesday desperately explored piracy workarounds to continue using Adobe programs after the software developer said it will cut access to its products for the country’s users, citing U.S. sanctions, in a move critics said demonstrated the unintended consequences of the Trump administration’s policies.
The European Union Aviation Safety Agency (EASA) said on Tuesday it was still assessing proposed changes to Boeing software for the grounded 737 MAX and had yet not found anything that would undermine hopes for a coordinated return to service.
The prolonged strike at General Motors Co is estimated to have hit 150,000 workers in the auto industry, a report from research and consulting firm Anderson Economic Group (AEG) showed on Tuesday.
Oil prices and stocks across major markets fell on Tuesday as tensions rose between China and the United States ahead of high-level trade talks, while the British pound sank on reports that Brexit negotiations were close to breaking down.
Beijing sharply rebuked Washington on Tuesday for adding some top Chinese artificial intelligence startups to its trade blacklist, dimming hopes for progress in high-level talks aimed at ending a 15-month trade war between the two economic giants.
Vodafone will shut 15% of its 7,700 stores in Europe and upgrade some of the remaining outlets as customers buy more online and change their expectations of in-store shopping, chief executive Nick Read said on Tuesday.
Oil prices slid about 1% on Tuesday as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries, although unrest in Iraq and Ecuador lent some support to crude prices.
U.S. streaming service Netflix has struck a deal with Italy’s top commercial broadcaster Mediaset to produce films in the country, the two companies said on Tuesday, as they try to grab new viewers in a competitive market.
U.S. stocks fell on Tuesday as hopes of progress in high-level trade talks were dashed by a report Washington was moving ahead with efforts to limit capital flows to China and the inclusion of some top Chinese startups to a blacklist.
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