Business & Finance News
Oil prices rallied more than 1 percent on Wednesday after U.S. data showing a deep drawdown in gasoline stocks overshadowed crude inventories rising to 17-month highs, and as sanctions and blackouts in Venezuela helped tighten global supply.
Technology stocks lifted the S&P 500 and the Nasdaq on Wednesday, ahead of the release of the Federal Reserve’s minutes from its latest policy meeting, while a drop in Boeing shares kept the Dow lower.
U.S. Transportation Secretary Elaine Chao defended the Federal Aviation Administration’s decision to not immediately ground the Boeing 737 MAX fleet after a second deadly crash in March of an airplane in Ethiopia.
Sunrise Communications’ top shareholder on Wednesday blocked plans to extend the company’s right to issue fresh capital to 2021, complicating its bid to buy Liberty Global’s Swiss UPC cable business for $6.3 billion.
Airbus nominated a new German chairman on Wednesday as Frenchman Guillaume Faury prepared to become its chief executive, signaling that the Franco-German balance at its helm will extend through a sweeping management overhaul.
U.S. consumer prices increased by the most in 14 months in March, but the underlying inflation trend remained benign against the backdrop of slowing domestic and global economic growth.
The U.S. dollar and world stock markets edged higher on Wednesday amid tame U.S. inflation data and as the European Central Bank left its ultra-easy policy stance unchanged but warned that economic risks remained to the downside.
Technology stocks lifted the S&P 500 and the Nasdaq higher on Wednesday but a fall in Boeing shares dragged the Dow lower, ahead of the release of the Federal Reserve’s minutes from its latest policy meeting.
Delta Air Lines Inc on Wednesday lifted its 2019 revenue forecast after reporting better-than-expected quarterly profits, boosted by robust travel demand and a renewed agreement with credit-card issuer American Express Co.
A bipartisan group of U.S. lawmakers introduced legislation on Wednesday to expand the electric vehicle tax credit by 400,000 vehicles per manufacturer, a provision that would give a boost to Tesla Inc and General Motors Co before the existing credit comes to an end for them.
The wife of ousted Nissan boss Carlos Ghosn returned to Japan on Wednesday and intends to testify to Tokyo prosecutors, the Nikkei newspaper reported, days after she left the country to seek help from the French government.
Oil prices rose on Wednesday after U.S. data showing a hefty drawdown in gasoline stocks overshadowed crude inventories rising to their highest levels in more than a year, and as sanctions and blackouts in Venezuela helped tighten global supply.
One of Bayer’s largest shareholders tore into the company’s management on Wednesday for underestimating the legal risks of its takeover of Monsanto, setting the stage for a fiery annual general meeting after a 30 percent plunge in the shares.
Airbus outgoing chief executive Tom Enders expressed hopes Boeing and U.S. Federal Aviation Administration would soon resolve a crisis over the grounding of the 737 MAX and said the two planemakers stand together on safety.
The S&P 500 was flat on Wednesday, as a drop in Boeing shares offset gains in the technology sector, while investors awaited minutes from the Federal Reserve’s latest policy meeting.
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