Business & Finance News
An Apple-led tech rally pushed Wall Street higher on Thursday as jitters over the Federal Reserve’s forecast of an economic slowdown were calmed by upbeat economic data.
Nike Inc reported a 7 percent rise in quarterly revenue on Thursday, boosted by strong sales on its app and website.
A measure of stocks across the globe rose in a volatile session on Thursday, led by gains on Wall Street, while the dollar rallied as traders continued to digest the Federal Reserve’s uber-dovish stance.
Boeing Co said on Thursday that production lines will not “pulse” or move airframes forward for three days next week at its 737 factory to allow workers to catch up on work that was previously delayed.
Biogen Inc and partner Eisai Co Ltd are ending two late-stage trials of their experimental Alzheimer’s disease drug aducanumab, a major setback in the quest to find a treatment for the mind-wasting disease and a blow to Biogen, which lost more than $18 billion of its value on Thursday.
Technology stocks surged on Thursday, leading Wall Street higher as jitters over the Federal Reserve’s warning of an economic slowdown were allayed by upbeat economic data.
Union pension fund adviser CtW Investment Group said on Thursday Lyft Inc “faces an all-but-insurmountable barrier” to profitability due to issues with the ride-hailing company’s pricing strategy and new regulations driving costs higher.
Boeing Co plans to offer as standard a safety feature that might have warned earlier of problems that possibly played a role in the doomed Ethiopian and Indonesian plane crashes that killed almost 350 people, two officials briefed on the matter said Thursday.
Levi Strauss & Co’s is betting it can convince investors there is still plenty of global growth left for the 165-year old company, but fund managers fret the iconic blue jeans maker’s stock may be too pricey to generate a decent return.
Wells Fargo & Co’s board is in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs Group Inc, to take over as the bank’s chief executive, the New York Post reported on Thursday, citing people briefed on the discussion.
The Federal Reserve’s decisive statement this week that interest rates are unlikely to rise this year sends a signal to U.S. households: keep buying stuff.
Ethiopian experts have begun analyzing the cockpit voice and flight data recorders, the so-called black boxes, of doomed Ethiopian Airlines flight 302 alongside international investigators, Ethiopia’s Ministry of Transport said on Thursday.
Shares in Levi Strauss & Co surged 31 percent in their debut on Thursday, giving the jeans maker a market value of $8.7 billion and suggesting strong investor appetite before much-awaited listings from Lyft and Uber.
A tech rally led by Apple Inc pushed Wall Street’s main indexes higher on Thursday, offseting losses in U.S. lenders after the Federal Reserve decided not to raise interest rates this year.
Federal Reserve policymakers see a U.S. economy that is rapidly losing momentum. They predict inflation will miss their 2 percent target for yet another year, despite rising wages, and they expect unemployment to increase.
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