Business & Finance News
Ford Motor Co said on Wednesday it is extending warranty on clutch and related hardware in certain of its Focus and Fiesta cars due to complaints related to the vehicles’ transmission from several customers.
Novartis said on Wednesday the two top research & development executives at its Avexis unit were no longer at the company after some data from early testing of Avexis’s more than $2-million gene therapy Zolgensma was manipulated.
When the U.S. Federal Reserve cut interest rates last month for the first time in more than a decade, it signaled that further reductions in borrowing costs might not be needed. Bond markets vehemently disagree.
China’s Tencent Holdings , the world’s largest gaming company by revenue, warned on Wednesday of a difficult economic environment even as it reported a better-than-expected 35% jump in quarterly profit.
Wall Street main indexes slid 1.5% on Wednesday, as a closely watched U.S. bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.
Macy’s Inc Chief Executive Officer Jeff Gennette said on Wednesday that the department store chain would not raise prices on products if the Trump administration goes ahead with its latest 10% tariffs.
WeWork owner The We Company on Wednesday published detailed financial statements for the first time, showing it lost more than $900 million in the first half of 2019 while revenue doubled, as it steps up preparations for an initial public offering next month.
Oil prices fell on Wednesday on weak global economic data and a rise in U.S. crude inventories, almost erasing the previous session’s strong gains which followed the United States’ move to delay tariffs on some Chinese products.
U.S. stocks fell at open on Wednesday, as a closely-watched bond market indicator pointed to a renewed risk of recession, undoing gains from the previous session due to a retreat by Washington on its latest tariffs on Chinese goods.
Macy’s Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted heavily to clear spring inventory, sending its shares down 17%.
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Swiss drugmaker Novartis has named company veteran Victor Bulto as head of its U.S. pharmaceuticals business, effective on Sept. 1.
WeWork owner The We Company on Wednesday filed with regulators for an initial public offering and published detailed financial statements for the first time that showed it lost almost $700 million in the first half of 2019 while doubling revenue.
Oil prices fell on Wednesday on weak economic data from China and Europe and a rise in U.S. crude inventories, almost erasing the previous session’s sharp gains after the United States said it would delay tariffs on some Chinese products.
Unions representing Ryanair cabin crew in Spain on Wednesday announced plans to hold 10 days of strikes in September unless the Irish airline changes its plans to close several bases in the country.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
