Business & Finance News
Japan’s SoftBank Group Corp is seeking the help of its chief operating officer, Marcelo Claure, to turn around WeWork, Bloomberg reported on Friday.
Electric carmaker Tesla Inc interfered with legitimate union organizing and must read a notice to workers explaining their rights in a meeting requiring attendance from Chief Executive Elon Musk, a U.S. labor judge ruled on Friday.
Mark Nordlicht, the founder of defunct hedge fund firm Platinum Partners who was convicted of fraud, was granted a new trial by a New York federal judge on Friday, and David Levy, a former executive of Platinum, was acquitted.
The U.S. Federal Trade Commission (FTC) has requested for more information from AbbVie Inc and botox maker Allergan Plc on their $63 billion deal, the companies said on Friday.
(This September 26 story corrects airline group to SkyTeam alliance instead of the Sky Alliance in paragraph 6)
After a difficult, months-long search for a new chief executive, scandal-plagued Wells Fargo & Co named as its next leader Charles Scharf, a one-time Jamie Dimon protégé known on Wall Street as a detail-oriented number cruncher who excels in streamlining operations.
China’s top diplomat said on Friday that tariffs and trade disputes could plunge the world into recession and Beijing was committed to resolving them in a “calm, rational and cooperative manner.”
U.S. stocks fell on Friday after Reuters and others reported that the Trump administration is considering delisting Chinese companies from U.S. stock exchanges, fuelling more worries about the U.S.-China trade war.
Philadelphia Federal Reserve Bank President Patrick Harker said in New York on Friday he opposed the central bank’s September rate cut and thinks the Fed should “hold firm” on interest rates.
President Donald Trump’s administration is considering delisting Chinese companies from U.S. stock exchanges, three sources briefed on the matter said on Friday, in what would be a radical escalation of U.S.-China trade tensions.
U.S. stocks fell on Friday after news that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges and limit U.S. investments into China.
Oil prices fell on Friday and posted a weekly loss on a faster-than-expected recovery in Saudi output, while investors also worried about global crude demand amid slowing Chinese economic growth.
Hedge fund D.E. Shaw & Co is building a stake in Emerson Electric Co and is planning to push for changes, including a potential break-up of the U.S. industrial conglomerate, people familiar with the matter said on Friday.
Marathon Petroleum Corp said on Friday the top U.S. refiner’s board supported Gary Heminger staying on as chief executive officer amid calls for his ouster from two top 10 shareholders.
Fiat Chrysler Automobiles NV and its U.S. unit will pay $40 million for misleading investors about its monthly sales figures and will resolve a lengthy probe by the U.S. Securities and Exchange Commission (SEC).
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