Business & Finance News
U.S. stocks were mostly higher in volatile late-afternoon trade on Wednesday as the release of the Federal Reserve’s minutes from its January meeting showed policymakers thought pausing on U.S. interest rate hikes last month posed little risk.
CVS Health Corp on Wednesday forecast 2019 profit well below Wall Street estimates due to weakness in its pharmacy business that serves long-term care facilities and slower than anticipated growth in drug prices, sending shares down 8 percent.
The Canadian government will unveil its budget for the 2019/20 fiscal year on March 19, Finance Minister Bill Morneau said on Wednesday.
Crude prices rose more than 1 percent on Wednesday to their highest level this year on hopes that oil markets will balance later this year, helped by output cuts from top producers as well as U.S. sanctions on OPEC members Iran and Venezuela.
Federal Reserve policymakers thought pausing on U.S. interest rate hikes last month posed little risk and plenty of benefit, minutes from their Jan. 29-30 meeting showed, giving them time to assess the effects of a global slowdown and the Fed’s rate hikes to date on U.S. economic momentum.
U.S. stocks turned lower in volatile trade on Wednesday after the release of the Federal Reserve’s minutes from its January meeting, when the U.S. central bank said it would be “patient” with respect to further interest rate hikes.
Samsung Electronics Co Ltd on Wednesday said it will release a pricey folding smart phone in April, with specially adapted applications from Facebook Inc and Alphabet Inc designed for the new device.
Federal Reserve policymakers thought pausing on U.S. interest rate hikes last month posed little risk and plenty of benefit, minutes from their Jan. 29-30 meeting showed, giving them time to assess the effects of a global slowdown and the Fed’s rate hikes to date on U.S. economic momentum.
Crude prices rose more than 1 percent on Wednesday to their highest this year, on hopes that oil markets will balance later this year, helped by output cuts from top producers as well as U.S. sanctions on OPEC members Iran and Venezuela.
Volkswagen’s premium auto brand Audi plans to eliminate one layer of management or about 10 percent of the division’s executive positions in a cost cutting drive, the unit’s chief executive told daily Handelsblatt.
Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said.
Credit rating agency Standard & Poor’s cut its outlook on carmaker Renault to “negative” from “stable”, citing broader challenges within the automotive sector that could hit its profits.
Southwest Airlines Co’s shares fell as much as 6 percent on Wednesday after the low-cost carrier said it was investigating whether a conflict with its mechanics union was leading to a spike in flight cancellations.
U.S. stocks were little changed on Wednesday, as investors awaited the Federal Reserve’s minutes from its January meeting and details on trade talks between the United States and China.
Business jet deliveries worldwide rose 3.8 percent on an annual basis to 703 planes in 2018, lifted by demand from North America and the introduction of new models, the General Aviation Manufacturers Association (GAMA) said on Wednesday.
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