Business & Finance News
Canadian mortgage lender Home Capital Group Inc said on Wednesday that Warren Buffett’s stake in the company will drop to less than 10 percent after the completion of a share buyback.
U.S. home sales unexpectedly rose in November, but recorded their biggest annual decline in 7-1/2 years, adding to other data that have painted a grim picture of the housing market.
Global equity markets edged higher on Wednesday after a three-day sell-off which had investors seeking safety in bonds due to mounting pessimism over world economic growth.
U.S. stocks climbed on Wednesday, boosted by technology stocks, and financials also gained ahead of a highly awaited Federal Reserve announcement where investors will watch for signals of fewer rate hikes, which could spark a year-end rally.
Chinese bike-sharing startup Ofo, backed by Alibaba Group Holding Ltd , has “immense” cash flow problems and has considered applying for bankruptcy, the Financial Times reported on Wednesday.
Facebook Inc said it did not give companies access to personal data of users without their permission, after the New York Times reported on Tuesday that the social network allowed some tech giants far greater access to data than it had disclosed.
Morgan Stanley is simplifying the way it acquires new technologies from small companies to speed up collaboration and address long running concerns by startups that working with big banks is slow and costly.
A travel lobby group, whose members include Amadeus and booking.com, on Wednesday urged EU antitrust regulators to investigate Lufthansa’s surcharges and other allegedly discriminatory measures against travel agents.
U.S. stocks opened flat on Wednesday, ahead of a highly awaited Federal Reserve announcement where the central bank is expected to signal fewer rate hikes given the turmoil in financial markets and rising fears of a recession.
MetLife Inc will pay a $1 million fine to resolve claims that it made misleading statements to investors in failing to pay pension benefits to thousands of retirees it improperly treated as “presumed dead.”
Shares of chip gear makers fell after a tepid forecast by U.S.-based Micron Technology Inc exacerbated fears that a two-year chip boom was fizzling due to sluggish demand from makers of smartphones, PCs and servers.
Wall Street was set to open higher on Wednesday, with investors hoping the Federal Reserve will give them an early Christmas present by signaling fewer rate hikes given the turmoil in financial markets and rising fears of a recession.
Shares of FedEx Corp fell nearly 8 percent on Wednesday, after the delivery package company jolted investors with a steeper-than-expected cut in its 2019 profit forecast warning of weakening freight demand as the global economy slows.
Global equity and crude oil markets attempted on Wednesday to claw their way out of a three-day long plunge that saw investors seek out the safety of bonds amid mounting pessimism over world growth.
General Mills Inc reported quarterly profit above Wall Street estimates on Wednesday, as the Cheerios cereal maker raised prices and eked out higher margins from cost savings.
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