Business & Finance News
The number of Americans filing applications for unemployment benefits dropped to a 49-1/2-year low last week, pointing to sustained labor market strength that could assuage fears the economy was rapidly losing momentum.
Stocks on Wall Street and in Europe clung to small gains on Thursday as investors waited for first-quarter earnings reports while U.S. Treasury yields rose after strong U.S. data and a six-month extension of Britain’s deadline to leave the European Union.
Taxi drivers took to the streets of Buenos Aires on Thursday to protest against Uber, underscoring the challenges the ride-hailing giant faces in the fast-growing Latin American market as it prepares to file a much-anticipated initial public offering.
China’s Huawei Technologies said on Thursday the security of its telecoms network equipment was as tight as any, and hit back at the U.S. government for briefing Washington’s allies against it.
Russia’s sovereign wealth fund RDIF plans a joint investment in the next couple of months with Baring Vostok, the private equity group whose executives are facing charges in Russia of fraud, RDIF head Kirill Dmitriev told Reuters.
A Russian banker accused of fraud along with executives from the Baring Vostok private equity fund, has admitted his guilt, Interfax news agency reported, citing a judge reading from investigators’ case files at a hearing in Moscow on Thursday.
Shares of Bed Bath and Beyond fell about 10 percent in early trading, after the home furnishing retailer forecast dismal first-quarter profits that raised doubts on the efficacy of its turnaround plan.
A Russian court released U.S. investor Michael Calvey on Thursday after two months in jail and placed him under house arrest until Saturday, softening his treatment in a fraud case that has rattled investors.
U.S. stocks opened marginally higher on Thursday, as investors assessed warnings from major central banks about a global slowdown and looked ahead to the start of the corporate earnings season.
Amazon.com Inc Chief Executive Officer Jeff Bezos on Thursday challenged rival retailers to increase their minimum wages to $16 an hour.
Dutch ASML said on Thursday it had been the victim of corporate espionage in 2015 involving employees from countries including China but said it had not been the target of any “national conspiracy”.
A Russian court on Thursday released U.S. investor Michael Calvey after two months in jail and placed him under house arrest until Saturday, softening his treatment in a fraud case that has rattled investors.
Marriott International Inc, the world’s biggest hotel company with luxury brands such as St. Regis and Ritz-Carlton, says it is committed to all of its brands which give it the breadth to take advantage of fast-growing markets like China.
James Forese, president and chief executive officer of Citigroup Inc’s institutional clients business, which contributed two-third’s of the bank’s profits last year, is retiring, according to an internal memo seen by Reuters.
Newly appointed Chief Executive Guillaume Faury imposed his mark on European planemaker Airbus with a simplified management structure and a manifesto for manufacturing reforms, as Airbus gears up for intensified competition with Boeing.
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