Business & Finance News
U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018.
The Tennessee Valley Authority voted on Thursday to close two aging coal-fired power plants, including one supplied by a company led by a major supporter of President Donald Trump, who had urged the U.S.-owned utility to keep it open.
Brazilian miner Vale’s safety procedures have not worked, the company’s chief executive said on Wednesday, responding to questions from lawmakers after one of the company’s dams collapsed last month with the loss of hundreds of lives.
The steepest decline in U.S. retail sales since 2009 in December halted a broad rally in world stock markets on Thursday and pushed investors into the safety of government bonds.
Amazon.com Inc abruptly scrapped plans to build a headquarters in New York after opposition from local politicians and some of its would-be neighbors, the third most-valuable public U.S. company said on Thursday.
U.S. stocks recovered from declines triggered by bleak retail data to trade flat on Thursday, as investors focused on signs of progress in the ongoing U.S.-China trade talks.
New York Mayor Bill de Blasio criticized Amazon.com Inc for walking away from a plan to establish a headquarters in the city in the face of political opposition, saying the company “threw away” an opportunity and failed to work with the community.
Amazon.com Inc will not move forward with plans to build a headquarters in New York after rising opposition from local politicians, the third most-valuable public U.S. company said in on Thursday.
Billionaire Vincent Bollore, Vivendi’s number one controlling shareholder, will leave the media giant’s board in April in a sign that he is further withdrawing from his businesses, the Paris-based company said on Thursday.
Auto leasing and financing company Xcelerate said on Thursday it has launched the first U.S. third-party extended warranties for electric vehicles, including those of market leader Tesla Inc, filling a void for used vehicles that have so far lacked such coverage.
U.S. stocks fell on Thursday, led by declines in consumer and bank shares, after bleak retail data fanned concerns about retailer earnings and led to increased bets of interest rate cuts, with losses capped by optimism over Sino-U.S. trade talks.
Amazon.com Inc said Thursday it will not move forward with plans to build a headquarters in New York after rising opposition from local politicians.
The Trump administration’s top two negotiators in trade talks with China will meet on Friday with Chinese President Xi Jinping, but there has been no decision to extend a March 1 U.S. deadline for a deal, White House economic adviser Larry Kudlow said on Thursday.
Wealthfront, one of the largest digital wealth management firms known as “robo-advisers”, said on Thursday it is expanding its suite of financial products by introducing a cash account with a rate on deposits of 2.24 percent, significantly higher than the average U.S. rate.
South African President Cyril Ramaphosa said his plan to divide struggling state power firm Eskom into three units would minimize risks to the economy, as a fifth day of power cuts hurt businesses and drove the rand to a six-week low on Thursday.
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