Business & Finance News
T. Boone Pickens, a celebrated corporate raider and energy industry magnate who made an empire out of an initial $2,500 investment, died on Wednesday at age 91, his spokesman said.
A gauge of global equity markets climbed on Wednesday, amid small signs of progress in the trade war between the United States and China, while bond yields rose as investors remained unsure what stimulus measures the European Central Bank will provide at its Thursday meeting.
Italy’s ruling 5-Star Movement will monitor closely a bid by Hong Kong Exchange for the London Stock Exchange to ensure it does not hurt Italian interests, it said on Wednesday.
Wall Street rose on Wednesday, boosted by Apple Inc after the launch of its latest iPhones, while investor nerves were also soothed by China’s move to ease trade tensions with the United States.
From pubs to theme parks, sterling’s near record lows against other major currencies has encouraged overseas buyers to snap up “UK Plc”, with more bargain hunters expected.
The Italian government should consider using its special powers to safeguard the country’s stock exchange in case a bid from Hong Kong Exchange on the London Stock Exchange goes through, a League party’s lawmaker said.
Apple Inc’s move to offer a free TV+ subscription for a year with every new device may briefly crown the iPhone maker as the biggest streaming service by user numbers, leapfrogging Netflix Inc.
General Motors Co said Wednesday it was recalling 3.46 million U.S. pickup trucks and SUVs to address a vacuum pump issue that could make braking more difficult and that has been linked to 113 accidents and 13 injuries.
OxyContin maker Purdue Pharma LP is nearing a partial agreement to resolve widespread litigation over its alleged role in fueling the U.S. opioid crisis and plans to tussle with states opposing its settlement offer in bankruptcy proceedings starting as soon as next week, people familiar with the matter said.
U.S. stocks rose on Wednesday, lifted by Apple a day after the launch of its latest iPhones and as China moved to ease trade tensions with the United States by exempting certain goods from additional retaliatory tariffs.
U.S. President Donald Trump on Wednesday called on the “boneheads” at the Federal Reserve to push interest rates down into negative territory, a move reluctantly used by other world central banks to battle weak economic growth that risks punishing savers and banks’ earnings in the process.
U.S. President Donald Trump’s pining for negative rates was widely panned on Wall Street where strategists and traders said such a move would be unjustified and extreme, and not advisable based on the experience in other countries.
U.S. producer prices unexpectedly rose in August, but the overall trend in producer inflation remains tame, cementing financial market expectations that the Federal Reserve will cut interest rates again next week to support a slowing economy.
A gauge of global equity markets climbed on Wednesday, encouraged by signs of a thaw in the trade war between the U.S. and China, while bond yields rose as investors remained uncertain about how aggressive the European Central Bank will be in providing stimulus at its Thursday meeting.
Hong Kong Exchanges and Clearing made a surprise $39 billion takeover approach for the London Stock Exchange on Wednesday, aiming to sabotage the LSE’s acquisition of data company Refinitiv and create a global trading powerhouse.
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