Business & Finance News
Asian stocks edged higher on Friday, thanks to gains on Wall Street, but the mood was cautious before a key U.S. job report that could help determine whether the Federal Reserve cuts interest rates further.
Facebook Inc Chief Operating Officer Sheryl Sandberg has tentatively agreed to testify before a U.S. House committee on Oct. 29 about the company’s plan for a digital currency, but the panel will not schedule the hearing until Chief Executive Mark Zuckerberg commits to appear by January, a congressional source said on Thursday.
Oil futures edged higher on Friday but were on track for a large weekly loss on fears that slower global economic growth will hurt fuel demand, while Saudi Arabia said it has fully restored oil output after recent attacks.
U.S. personal computer maker HP Inc said on Thursday it will cut up to 16% of its workforce as part of a restructuring plan aimed at cutting costs.
Asian stocks edged higher on Friday, thanks to gains on Wall Street, but the mood was cautious before a key U.S. job report that could help determine whether the Federal Reserve cuts interest rates further.
Personal computer maker HP Inc said on Thursday it will cut about 7,000 to 9,000 jobs as part of its fiscal 2020 restructuring plan.
New 25% U.S. tariffs on Italian cheese, French wine, Scotch whisky, British biscuits, Spanish olives and thousands of other European food products will lead to higher prices ahead of the holiday season and cost American jobs, trade groups said on Thursday.
Costco Wholesale Corp reported quarterly revenue below Wall Street estimates on Thursday, as the U.S. hypermarket chain struggled to attract shoppers in the competitive grocery space.
General Motors Co’s U.S. workforce productivity has declined since the automaker recovered from a 2009 bankruptcy, even as its profit per employee has risen, a Reuters analysis shows.
General Motors Co’s U.S. workforce productivity has declined since the automaker recovered from a 2009 bankruptcy, even as its profit per employee has risen, a Reuters analysis shows.
Short bets against WeWork’s bonds jumped to a record high this week, suggesting investors believe the office-sharing startup may again seek to raise money in the debt market after it filed to withdraw its initial public offering.
Tiffany & Co is sending more of its priciest jewelry to mainland China to reach consumers kept at home by a weak currency, Chief Executive Alessandro Bogliolo said on Thursday.
The latest weaker-than-expected U.S. economic data on Thursday fed hopes that the Federal Reserve would cut U.S. interest rates this month, which helped lift global equities slightly after two days of declines, but investors also parked some funds in U.S. Treasuries and other safe-haven assets.
Wall Street stocks climbed on Thursday after data showing U.S. services-sector activity at a three-year low fueled expectations that the Federal Reserve would cut interest rates to stem a wider economic downturn.
While striking workers at General Motors Co’s U.S. auto plants continue walking picket lines for a third week to demand better pay and benefits, the financial pressure has mounted for union members like Frank Lee.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
