Business & Finance News
Sweden’s Volvo Cars has raised some 2 billion Swedish crowns ($215 million) in a bond issue just five months after the Chinese-owned carmaker terminated plans for a stock market flotation, blaming trade tensions and a downturn in the sector.
CVS Health Corp on Wednesday forecast 2019 profit well below Wall Street forecasts due to weakness in its pharmacy business that serves long-term care facilities and slower than anticipated growth in drug prices, sending shares down as much as 9 percent.
Kinder Morgan Inc will expand barge-loading capacity at its ethanol terminal in Chicago to help relieve a supply glut there that is driving down global prices for the biofuel, three people briefed on the company’s plans told Reuters.
Crude prices rose nearly 2 percent on Wednesday, with Brent hitting its 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.
Bombardier Inc, the Canadian train and plane maker, will deliver a handful of its new flagship Global 7500 business jets to customers in the first half of 2019, with the remaining 10-15 deliveries expected in the second half, its chief financial officer said on Wednesday.
World stocks rose on Wednesday, hitting a four-month high on hopes for progress in trade talks between the United States and China, and a supportive backdrop from major central banks also helped push risk assets higher.
Sweden’s Volvo Cars issued a bond worth 2 billion Swedish crowns ($214.65 million), it said on Wednesday, just five months after the Chinese-owned carmaker terminated plans to list itself blaming trade tensions and a downturn in automotive stocks.
U.S. stocks rose sluggishly on Wednesday, as investors awaited the Federal Reserve’s minutes from its latest meeting, while assessing the latest developments in the U.S.-China trade talks.
A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties.
Canadian train-and-plane maker Bombardier will deliver a handful of its new flagship Global 7500 business jet to customers during the first half of 2019, with the remaining 10-15 deliveries expected during the back half of the year, chief financial officer John Di Bert told an investor conference on Wednesday.
German prosecutors have launched a probe into Daimler for allegedly failing to prevent diesel emissions cheating, possibly resulting in a fine for the carmaker, as its legal woes mount up over the affair.
A U.S. judge has rejected Credit Suisse Group AG’s bid to dismiss a lawsuit accusing the Swiss bank of defrauding shareholders about its risk appetite and risk management before taking $1 billion of writedowns on souring debt.
Budget carrier Norwegian Air expects to fly a plane out of Iran in the next few days after it made an emergency landing there in December and became stranded, partly due to U.S. sanctions on Tehran.
U.S. stocks were little changed on Wednesday as investors weighed the latest developments in trade talks between the United States and China, while waiting for minutes from the Federal Reserve’s January policy-setting meeting.
U.S. Trade Representative Robert Lighthizer will testify next week at a U.S. House of Representatives hearing on U.S.-China trade issues, a spokesman for the House Ways and Means Committee said on Wednesday.
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