Business & Finance News
Macy’s Inc reported a 48% fall in quarterly profit and cut its forecast for full-year adjusted earnings on Wednesday, as the department store operator discounted heavily to clear excess inventory, sending its shares down 13%.
Wall Street was set to open lower on Wednesday, as poor economic data from China and Germany put the focus back on the impact of a bruising Sino-U.S. trade war which is pushing some major economies toward the brink of recession.
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.
Stock markets slumped on Wednesday as Germany’s economy went into reverse, fuelling fears of global recession and slamming the brakes on a rally for equities after Washington delayed tariffs on some Chinese imports.
Indonesia’s Lion Air “urgently requires” more Boeing Co 737 MAX jets to support its growth strategy once regulators approve the grounded model’s return to service, the airline’s co-founder, Rusdi Kirana, told Reuters on Wednesday.
Oil prices fell on Wednesday on disappointing economic data from China and Europe and a rise in U.S. crude inventories, partly erasing the previous session’s sharp gains after the United States said it would delay tariffs on some Chinese products.
Air Canada said on Wednesday it will launch a direct Seattle-Montreal service next spring with its new A220-300 jets, as the carrier eyes new routes to grow its share of lucrative international transit traffic to and from the United States.
Coffee Day Enterprises Ltd said on Wednesday it planned to sell a tech park it owned in the southern Indian city of Bengaluru to Blackstone for up to 30 billion rupees ($421 million), in an effort to cut debt.
European stocks fell on Wednesday as Germany’s economy went into reverse, reviving fears of global recession and tempering a rally for equities after Washington delayed tariffs on some Chinese imports.
China’s economy stumbled more sharply than expected in July, with industrial output growth cooling to a more than 17-year low, as the intensifying U.S. trade war took a heavier toll on businesses and consumers.
Asian stocks joined a global equities surge on Wednesday, after Washington delayed tariffs on some Chinese imports and gave much-needed relief for markets gripped by political and economic turmoil.
Standard Chartered is targeting growing its private banking assets by 50% to about $100 billion in three to five years and hire dozens of bankers in Hong Kong and Singapore toward that goal, a senior executive of the lender said.
China’s troubled Anbang Insurance Group has put its $2.4 billion property portfolio in Japan up for sale and previous owner Blackstone Group is bidding, two people familiar with the company’s plans said.
Asian stocks joined a global equities surge on Wednesday, after Washington delayed tariffs on some Chinese imports and gave much-needed relief for markets gripped by political and economic turmoil.
U.S. Federal Aviation Administration (FAA) has banned certain models of Apple Inc’s MacBook Pro laptops on flights, after the company recalled select units which had batteries posing fire risks.
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