Business & Finance News
The S&P 500 slipped on Wednesday after ending the previous session with a record and the Nasdaq failed to hold all-time highs reached earlier in the day while investors waited for more earnings reports.
Facebook Inc beat analysts’ estimates for quarterly revenue on Wednesday, aided by growth in its Instagram business and a surge in advertising spending by companies while also warning it could face up to $5 billion in losses related to an official U.S. privacy investigation.
Visa Inc reported a 14.3 percent jump in quarterly profit on Wednesday as a tightening labor market and growth in wages spurred consumer spending, leading to more people swiping their credit- and debit-cards using the company’s extensive network.
Norwegian Air has agreed with Airbus and Boeing to reschedule delivery of aircraft to cut capital spending, the loss-making budget carrier said on Wednesday.
Walmart Inc is taking control of the supply chain for Angus beef sold in some of its stores, cutting out meat processors as the company looks to offer higher quality products in an intensely competitive grocery industry.
A New York judge has put on hold a lawsuit by U.S. private equity firm Blackstone Group LP against Italian publisher RCS Mediagroup over the disputed sale of real estate assets, pending the outcome of an arbitration in Italy.
The S&P 500 was down slightly on Wednesday, taking a pause after the previous session’s record close as investors digested a mixed batch of earnings reports and declining energy stocks limited gains.
A New York judge has suspended a lawsuit brought by U.S. private equity fund Blackstone against Italian publisher RCS Mediagroup over the disputed sale of real estate assets, two sources close to the matter said on Wednesday.
Tesla Inc Chief Executive Officer Elon Musk said on Wednesday he was considering building a factory in Germany, responding to a user’s suggestion on Twitter.
Britain’s troubled outsourcer Interserve Group Ltd said on Wednesday its finance chief Mark Whiteling had resigned after being in the post since Oct. 2017.
Oil and gas producer Anadarko Petroleum Corp on Wednesday confirmed Occidental Petroleum Corp’s $57 billion offer for the company that topped Chevron Corp’s $50 billion bid and said it would carefully review the offer.
Bayer AG on Wednesday asked a California appellate court to throw out a $78 million judgment it was ordered to pay to a school groundskeeper who claimed the company’s weed killers gave him cancer.
A settlement with Goldman Sachs Group Inc over its role in the 1MDB corruption scandal should include a guilty plea at the parent company level, staff at the U.S. Department of Justice have recommended, according to a Financial Times report on Wednesday.
Boeing Co removed 210 aircraft from its order backlog and took an impairment charge over customer financing losses on Wednesday following the near-collapse of India’s Jet Airways.
Oil prices steadied on Wednesday near six-month highs after data that showed U.S. stockpiles rose to their highest levels since October 2017, countering fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.
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