Business & Finance News
Oil prices edged back towards five-month highs on Wednesday, supported by ongoing supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela.
Shares in Australia’s Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd quit discussions for a A$10 billion ($7.1 billion) buyout, although some investors appeared to be hoping for a change of heart.
Shares in Australian casino operator Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd abruptly ended takeover talks overnight.
Boeing Co’s legal troubles grew on Tuesday as a new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding.
The Brazilian unit of Ford Motor Company said on Tuesday it was initiating a voluntary layoff program for its plant in Camaçari, in the northeast state of Bahia, with the objective to cut workforce it said was in excess of current needs.
A U.S. bankruptcy judge on Tuesday deferred a ruling on whether to approve a PG&E Corp plan to pay up to $350 million in bonuses to 10,000 employees, saying he wants more details from the California power producer that is facing bankruptcy following last year’s wildfires.
The U.S. Consumer Financial Protection Bureau (CFPB) has told Congress that “all options are on the table” for enforcing a 2018 consent order against Wells Fargo, raising the prospect of potential future penalties or other sanctions against the bank.
Oil fell from five-month highs on Tuesday after the International Monetary Fund cut its global economic growth forecasts and as Russia signaled it may retreat from its production-cutting deal with OPEC.
Wall Street is bracing for large U.S. companies to report a decline in quarterly profits even after raking in higher revenues, something that has not happened in more than a decade.
Airbnb said on Tuesday that it would not implement a planned delisting of Israeli settlements in the occupied West Bank and would donate proceeds from any bookings in the territory to international humanitarian aid organizations.
A U.S. bankruptcy judge on Tuesday deferred a ruling on whether to approve or reject a motion by PG&E Corp to pay up to $350 million in bonuses to 10,000 employees after the power producer said the plan excluded senior executives and would help it fight devastating wildfires.
Optimism that the United States and China will soon reach a trade deal has helped propel stocks close to new highs, but the decisive factor in whether the bull market runs much further may be this year’s corporate earnings.
Trade-sensitive industrials dragged Wall Street lower on Tuesday as tensions over tariffs between the United States and its European trading partners went from simmer to boil and the IMF lowered its global growth outlook.
Levi Strauss & Co posted a 7 percent rise in quarterly revenue on Tuesday in its first report after returning to public markets, as the jeans maker’s strategy of expanding its retail stores and investing in its online business paid off.
Trade-sensitive industrials dragged Wall Street lower on Tuesday as U.S. President Donald Trump said he would impose tariffs on $11 billion of European goods, and as the International Monetary Fund lowered its global growth outlook.
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