Business & Finance News
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.
Wells Fargo’s board is in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs, to take over as the bank’s next chief executive, the New York Post reported on Thursday, citing people briefed on the talks.
Indonesian investigators described the panic of pilots grappling with airspeed and altitude problems in the last moments of their doomed Lion Air flight, as comparisons mounted to a disaster in Ethiopia and authorities queued up to question Boeing.
Deutsche Bank’s supervisory board debated a possible merger with rival Commerzbank for three hours at a meeting on Thursday, a person with direct knowledge of the matter said.
More than 300 Boeing 737 MAX 8 and MAX 9 passenger jets have been grounded worldwide after two fatal crashes in the past five months in Ethiopia and Indonesia killed nearly 350 people.
Boeing Co will mandate a previously optional cockpit warning light as part of a forthcoming software update to the 737 MAX fleet that was grounded in the wake of two fatal crashes, two officials briefed on the matter said Thursday.
Shares in Levi Strauss & Co surged 31 percent in their debut on Thursday, giving the U.S. jeans maker a market value of $8.7 billion and indicating a strong investor appetite ahead of much-awaited listings from Lyft and Uber Technologies.
Ford Motor Co on Thursday named Amazon.com Inc veteran Tim Stone as chief financial officer, the automaker’s first external hire for the role in seven decades.
Boeing Co will install an extra safety alarm in the cockpits of all its 737 MAX aircraft after intense criticism in the wake of two fatal crashes, the Financial Times reported on Thursday.
U.S. stocks eked out gains on Thursday as declines in financial stocks after the Federal Reserve’s move to not raise interest rates this year were countered by gains in technology companies.
Biogen and partner Eisai Co Ltd are ending two late-stage trials for the experimental Alzheimer’s drug aducanumab, in a setback to efforts to find treatments for the disease and for Biogen’s stock, which lost more than $17 billion of its value on Thursday.
Tencent Holdings signaled it will reduce its reliance on gaming in China, where a regulatory review and one-off investment costs led to its sharpest-ever quarterly profit drop and slowest annual profit growth in 13 years.
U.S. stocks opened lower on Thursday, after the Federal Reserve abandoned any interest rate hikes this year and flagged an expected slowdown in the economy.
Biogen and partner Eisai Co Ltd are ending two late-stage trials testing the experimental Alzheimer’s drug aducanumab, marking the latest setback for an industry racing to develop treatments for the memory-robbing disease.
Indonesian investigators described on Thursday the panic of pilots grappling with airspeed and altitude problems in the last moments of their doomed Lion Air flight, as comparisons mounted with a disaster in Ethiopia.
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