Business & Finance News
U.S. stocks rose more than 1 percent to session highs on Wednesday, ahead of a much-awaited Federal Reserve announcement that investors hope will point to a more moderate pace of future interest rate hikes and spark a year-end rally.
Russian tycoon Oleg Deripaska is preparing to cede control of Rusal and its parent En+ , moving part of his En+ stake to a blind trust, as talks with the United States on lifting sanctions advance, three sources familiar with the talks said.
The United States imposed fresh Russia-related sanctions on Wednesday and said it intended to lift sanctions against Rusal Plc, EN+ and ESE, according to the Treasury Department website.
A decade since the global financial crisis, the U.S. securities regulator is still struggling to get a grip on the country’s rating agencies because it lacks the tools and expertise needed to crunch growing reams of ratings data, people familiar with the effort say.
Billionaire investor Warren Buffett is getting out of the Canadian mortgage business after a nifty trade that helped a company that had been on the ropes.
The attorney general for Washington, D.C. has sued Facebook over the scandal that broke earlier this year involving Cambridge Analytica’s use of data from the social-media giant, the Washington Post reported on Wednesday.
Oil prices rose about 3 percent on Wednesday, recovering somewhat from a sharp sell-off during the previous session, after U.S. data showed strong demand for refined products.
U.S. stocks climbed 0.7 percent on Wednesday, boosted by the technology sector, while banks rose ahead of a much anticipated Federal Reserve announcement that investors hope will point to a more moderate pace of interest rate hikes next year, which could spark a year-end rally.
Facebook’s lead regulator in the European Union on Wednesday said it was assessing a report in the New York Times that the social network allowed some tech companies far greater access to data than it had disclosed.
From an eye shadow that opens with the flick of a thumb, Zippo-style, to a barely-there foundation in subtle blue-gray packaging: men’s make-up is getting a makeover as manufacturers bid to take it more mainstream.
General Mills Inc reported a quarterly profit above Wall Street estimates on Wednesday as the maker of Cheerios cereal raised prices and eked out higher margins from cost savings.
Daimler told European regulators late last month that it will have to recall 127,847 Mercedes vehicles to replace the R134a coolant, trade publication kfz-betrieb reported on Wednesday, not citing the source of its information.
A group whose members include Amadeus and Expedia , stepped up their fight against German airline Lufthansa on Wednesday, urging EU regulators to investigate booking fees it levies on travel agents.
Volkswagen (VW) is buying a controlling stake in Volvo’s WirelessCar, a digital service developer specializing in connected driving, for 1.1 billion Swedish crowns ($122 million), the companies said on Wednesday.
Uber [UBER.UL] has lost its latest court bid to stop its British drivers being classified as workers, entitling them to rights such as the minimum wage, in a decision which jeopardizes the taxi app’s business model.
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