Business & Finance News
World equity markets continued a week-long slide on Thursday, one day after the U.S. Federal Reserve indicated it was set on its interest rate-hiking path next year despite signs that global economic growth is stuttering.
Technology stocks led a slide on Wall Street on Thursday, with the S&P 500 languishing at 15-month lows and the Nasdaq flirting with bear market territory, after the Federal Reserve quashed hopes of a toned-down approach to its interest-rate hike path.
Oil prices fell more than 4 percent on Thursday, hitting their lowest in more than a year on worries about oversupply and the outlook for energy demand as a U.S. interest rate rise knocked stock markets.
– Shares of social media company Twitter down 11.3 percent at $29.22; set for its biggest one-day percent fall in nearly five months
Chip supplier Qualcomm Inc won a second court skirmish in its worldwide patent battle with Apple Inc on Thursday, with the iPhone maker saying it would pull some older models from its German stores.
U.S. stocks dropped over 1 percent on Thursday, with the S&P 500 languishing at 15-month lows, as disappointing earnings reports added to the gloom after the Federal Reserve quashed hopes of a toned-down approach to its interest-rate hike trajectory.
General Motors Co said on Thursday the fate of its Lordstown, Ohio, car assembly plant, which Tesla Inc Chief Executive Elon Musk has suggested he might buy, is a matter to be settled with the plant’s union next year.
Oil prices fell about 3 percent on Thursday, hitting their lowest in more than a year on worries about oversupply and the outlook for energy demand as a U.S. interest rate rise knocked stock markets.
The number of Americans filing applications for jobless benefits rose marginally from near a 49-year low last week, suggesting underlying strength in the labor market and broader economy.
Walgreens Boots Alliance Inc said on Thursday it would consolidate warehouses and shut some stores as part of a cost-cutting plan aimed at saving more than $1 billion annually.
Apple Inc said it would pull some iPhone models from its German stores after a court there ruled on Thursday that Apple infringed a hardware patent of Qualcomm Inc and could no longer sell some models in Germany that contain a particular component.
World equity markets continued a weeklong slide on Thursday amid investor concerns after the U.S. Federal Reserve indicated it was set on its interest rate-hiking path next year even amid signs global economic growth is stuttering.
U.S. stocks slipped on Thursday, continuing their declines from a day earlier, as a batch of disappointing earnings reports added to the gloom after the Federal Reserve quashed hopes of a toned-down approach to its interest-rate hike trajectory.
U.S. oil major ExxonMobil has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, effectively signaling that the project has been shelved.
A Tokyo court unexpectedly ruled not to extend the detention of Nissan’s ex-chairman Carlos Ghosn on Thursday, meaning he may soon be released from jail where he has been since last month facing allegations of financial misconduct.
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