Business & Finance News
Wall Street’s main indexes fell slightly on Thursday as support from better-than-feared U.S. GDP data was countered by concerns about earnings and U.S.-China trade relations.
Activist hedge fund Starboard Value LP followed Bristol-Myers Squibb Co’s second-largest investor, Wellington Management, in opposing the drugmaker’s $74 billion purchase of biotech Celgene Corp on Thursday, sowing further doubt on would be the largest pharmaceutical acquisition of all time.
American Airlines was fined $1 million and Delta Air Lines Inc $750,000 for violating federal rules barring lengthy tarmac delays at U.S. airports, the U.S. Transportation Department said on Thursday.
Global equities markets fell on Thursday as weak Chinese economic data and mixed messages on the progress of trade talks between China and the United States weighed on investor sentiment.
Wall Street’s main indexes went nowhere fast on Thursday with better-than-feared GDP data providing some support to counter the abrupt end to a U.S.-North Korean summit and ongoing concerns about earnings and U.S.-China trade relations.
U.S. President Donald Trump on Thursday warned he could walk away from a trade deal with China if it were not good enough, even as his economic advisers touted “fantastic” progress toward an agreement to end a dispute with the Asian country.
Venezuela’s oil exports sank 40 percent in the first full month after the beginning of U.S. sanctions designed to oust Socialist President Nicolas Maduro, according to data from state-run oil firm PDVSA and Refinitiv Eikon.
Appaloosa LP said on Thursday minority investor John Chevedden was backing the hedge fund’s proposal to split the roles of chairman and chief executive officer at Botox-maker Allergan Plc.
Six Google employees on Thursday joined U.S. lawmakers to support bills that would ban mandatory arbitration in employment and consumer contracts, as the workers seek to build on recent success in getting the Alphabet Inc company to drop some arbitration provisions.
The U.S. embassy in Sweden has asked the country’s financial watchdog FI for a meeting to discuss allegations about Swedbank’s involvement in a Baltic money-laundering scandal.
The U.S. economy fell short of the Trump administration’s 3 percent annual growth target in 2018 despite $1.5 trillion in tax cuts and a government spending blitz, and economists say growth will only slow from here.
Uber Technologies Inc and Lyft plan to offer cash bonuses to some of their most active drivers with the option to purchase shares in the ride-hailing firms’ highly anticipated Wall Street debuts, a bold effort to improve driver relations as the companies transition to the public markets.
Lifestyle guru Martha Stewart is joining Canadian marijuana producer Canopy Growth as an adviser to help develop and launch a line of pot-based products for humans and animals, it said on Thursday.
Global equities markets fell for a third straight day on Thursday, with Wall Street stocks edging lower as weak Chinese economic data and mixed messages on the progress of trade talks between China and the United States weighed on investor sentiment.
The adoption of a European Union money-laundering blacklist, which includes Saudi Arabia as well as Puerto Rico and three other U.S. territories, is likely to be blocked by EU states under a procedure launched on Thursday, two EU sources said.
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