Business & Finance News
The battle for profits from sales of large pickup trucks is intensifying among the Detroit Three automakers as sales of small cars in the United States shrivel.
U.S. stocks plunged on Thursday and 2-year U.S. Treasury yields dropped below the Federal Reserve’s policy rate for the first time in more than a decade, delivering a signal the U.S. central bank could begin reversing its tightening regime before long.
Wall Street plunged on Thursday after slowing U.S. factory activity on the heels of a dire revenue warning from Apple Inc fueled fears of a global economic slowdown.
Bristol-Myers Squibb Co said on Thursday it would buy Celgene Corp for about $74 billion, combining two of the world’s largest cancer drug businesses in the biggest pharmaceutical deal ever.
Brazil’s government and state-run oil firm Petroleo Brasileiro SA expect to resolve a dispute over the oil producing zone known as the ‘transfer-of-rights’ area within 100 days, a minister said on Thursday.
A revenue warning from Apple Inc rocked equity markets around the globe on Thursday as concerns over a damaging China-U.S. trade battle and its impact on world economic growth boosted assets considered safer investments, such as bonds and the Japanese yen.
For most U.S. families, the holidays are all about gathering around the fireplace, overeating at festive dinners, and playing the occasional board game. But this year, a father and son were also working on the biggest pharmaceutical acquisition of all time.
Oil prices rose more than one percent on Thursday in a session of volatile trade, drawing support from signs that Saudi Arabia is cutting crude output but pressured by concerns that slowing global economic growth could dent demand.
Roberto Castello Branco, the incoming chief executive of Petroleo Brasileiro SA , made the case for divestments in the natural gas and refining sectors at a swearing-in ceremony on Thursday.
General Motors Co said on Thursday that Mark Reuss would succeed Dan Ammann as president, effective immediately, as part of the automaker’s ongoing shift to electric and self-driving vehicles in North America and China.
A top U.S. bank regulator said on Thursday she had no concerns that volatility in the equities and futures markets posed a threat to the banking system, telling Reuters the country’s lenders have plenty of capital to weather further market swings.
Wall Street was pummeled on Thursday after a revenue warning from Apple Inc and slowing U.S. factory activity stoked fears of a global economic slowdown.
The plunge in Apple Inc’s share price will likely cause new pain for Warren Buffett’s Berkshire Hathaway Inc, after the conglomerate suffered a big quarterly decline in its net worth that will hit its bottom line.
The cost to insure Bristol-Myers Squibb debt hit its highest point since May 2010 on Thursday, following the announcement that the U.S. pharmaceutical company would acquire rival Celgene Corp in a deal worth about $74 billion.
The United Auto Workers said on Thursday it was suing General Motors Co over labor contract violations stemming from its alleged use of temporary workers at an Indiana assembly plant, escalating the union’s fight against GM’s plans to possibly close U.S. factories.
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