Business & Finance News
Sweden’s financial markets minister on Thursday expressed outrage over how Swedbank had handled money laundering allegations against it, saying separately it could put confidence in the financial system at risk.
Wall Street’s main indexes were set for a subdued opening on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth.
– The U.S. economy slowed more than initially thought in the fourth quarter, keeping growth in 2018 below the Trump administration’s 3 percent annual target, and corporate profits failed to rise for the first time in more than two years.
U.S. stock index futures treaded water on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth.
Sony Corp is closing its Beijing smartphone plant, a spokesman said on Thursday, as the Japanese electronics giant cuts costs in an attempt to make the money-losing handset business profitable from next year.
A firm hired by the U.S. Treasury Department is auditing Russian aluminum giant Rusal to check whether it is complying with the terms of a deal under which Washington agreed to lift sanctions on the company, Rusal said.
Swedbank believes it has been honest with authorities looking into allegations that accounts at the bank may have been used for money laundering, its chairman said on Thursday.
Shares in Bayer hit an almost 7-year low on Thursday after a U.S. jury awarded $80 million to a man claiming use of the group’s weed killer Roundup caused his cancer, with thousands of similar lawsuits looming.
Britain’s markets watchdog said on Thursday it had fined Goldman Sachs International a record 34.3 million pounds ($45 million) for failing to provide accurate reporting of transactions over a decade.
A brawl between World Wrestling Entertainment Inc’s bears and bulls could reach a peak this year as the company renegotiates overseas contracts.
Swedbank dismissed Chief Executive Birgitte Bonnesen on Thursday just before its annual shareholder meeting, after mounting investor criticism over allegations the bank was involved in money laundering in the Baltics.
Britain’s markets watchdog said on Thursday it has fined Goldman Sachs 34.3 million pounds ($45.07 million) for failing to provide accurate and timely reporting of transactions spanning a decade.
Global bond yields continued to spiral lower on Thursday as recession fears fed expectations of more policy easing by major central banks, while Turkey’s lira took a 5 percent beating as pressure ratcheted up on its volatile markets again.
Sony Corp on Thursday said chairman Kazuo Hirai, who helped engineer the electronics giant’s recent revival, will retire in June, bowing out as the Japanese company is on track for another record profit this year.
Germany’s exemptions for heavy industry to a green energy surcharge were legal, the European Union’s top court said on Thursday, in a ruling that overturned a 2014 decision of the EU antitrust regulator.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
