Business & Finance News
Top U.S. banks must make deeper cost cuts to drive earnings growth, with revenue expected to remain under pressure for the foreseeable future, analysts said.
Apple Inc was accused in a new lawsuit of securities fraud for concealing a slump in demand for iPhones, particularly in China, leading to a $74 billion one-day slide in its market value once the truth became known. The complaint filed on Tuesday seeks damages for investors who bought Apple stock in the two months before Chief Executive Tim Cook on Jan. 2 unexpectedly reduced Apple’s quarterly revenue forecast as much as $9 billion, in part because of the intensifying U.S. trade w
New training requirements for Boeing Co’s grounded 737 MAX jet should include time in a flight simulator, Canada’s transport minister said on Wednesday.
The European Commission’s push for a wifi-based standard for cars backed by Volkswagen took a big step forward on Wednesday after EU lawmakers endorsed the move over 5G technology promoted by BMW and Qualcomm.
Qualcomm Inc added $30 billion to its market value after it resolved a legal battle with Apple Inc, a move that secures its leadership in 5G phone chips and could pave the way for a similar settlement with China’s Huawei Technologies.
Bank of New York Mellon Corp said on Wednesday it expects net interest revenue to decline again in the current quarter as the world’s largest custodian bank pays higher interest rates to attract deposits, sending its shares down 9 percent.
German car parts maker Continental and French rival Valeo have joined Daimler and Bury Technologies to seek an EU antitrust investigation into Nokia’s patent licensing practices for cars, the Finnish tech company said on Wednesday.
World stock markets pared earlier gains as a continued flight from healthcare shares dragged on Wall Street, overshadowing earlier upbeat economic data from China.
Wall Street’s main indexes were trading flat on Wednesday, as a Qualcomm-led rally in chipmakers was offset by a slide in healthcare stocks for the second straight session, although quarterly earnings came in largely positive.
Beleaguered carrier Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India’s largest private carrier.
Ford Motor Co said on Wednesday a planned shift in production at a Michigan plant to trucks from less profitable cars will lead to an improvement of more than $1 billion in operating earnings.
When H&M boosted its shares last month by reporting a rise in the sale of full-price garments, it wasn’t just a tribute to the fashion sense of its designers. It was a sign that backroom improvements are at last paying off.
Embattled Jet Airways said on Wednesday it was halting all flight operations after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India’s largest private airline.
PepsiCo Inc’s quarterly sales and profit beat Wall Street estimates on Wednesday, as the beverage maker’s advertising and marketing push helped drive sales of its snacks, sparkling waters and low-sugar sodas globally.
Japan’s Toyota Motor Corp said on Wednesday it will begin building in Brazil a new version of the Corolla sedan that will run on electricity, ethanol and gas, the first vehicle of its kind to be built in Latin America.
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