Business & Finance News
Oil prices dipped on Wednesday ahead of a meeting of the world’s biggest exporters, who will discuss cutting output to help shore up prices and curb excess supply.
General Motors Co Chief Executive Mary Barra arrived on Capitol Hill on Wednesday for two days of meetings with lawmakers who are angry over the Detroit automaker’s decision to close five North American assembly plants and cut nearly 15,000 jobs.
Citigroup Inc chief financial officer John Gerspach said the bank expects market revenue in the current quarter to be slightly lower from last year.
Leading global oil traders Vitol, Trafigura and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday.
Global stocks fell on Wednesday, plagued by a flattening yield curve that sparked concerns about an economic slowdown in the United States and weakening expectations of a lasting U.S.-China trade truce, while the dollar steadied.
Tariff-driven price increases have spread more broadly through the U.S. economy, though on balance inflation has risen at a modest pace in most parts of the country, the Federal Reserve said on Wednesday in its latest report on the economy
New Yorkers by a wide margin approve of plans for Amazon.com Inc to build a massive new campus in the city, although they are divided over terms of a multibillion-dollar incentive package used to lure the largest U.S. online retailer, according to poll results released on Wednesday.
Saudi Energy Minister Khalid al-Falih met U.S. special representative for Iran Brian Hook in Vienna on Wednesday, sources familiar with the meeting said.
Billionaire Michael Bloomberg said he was likely to sell his financial data and news company Bloomberg LP if he runs for president, Business Insider reported, citing an interview he gave to a local radio station.
Wells Fargo & Co is firing around three dozen district managers for oversight failures related to a sales scandal that came to light in its retail banking unit in 2016, the Wall Street Journal reported on Wednesday.
Volkswagen’s core brand will seek cost and efficiency gains of almost 6 billion euros ($6.8 bln) in an effort to raise the VW brand’s operating margin to 6 percent by 2023, German daily Handelsblatt said, citing company sources.
Saudi Energy Minister Khalid al-Falih met with U.S. special representative for Iran Brian Hook in Vienna on Wednesday, sources familiar with the meeting said.
Goldman Sachs Group Inc may need to boost its legal reserves by as much as $1 billion to prepare for potential penalties related to its dealings with the Malaysian sovereign wealth fund 1MDB, analysts said.
Brazilian state-run oil company Petroleo Brasileiro SA plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.
Oil prices inched higher on Wednesday ahead of a meeting of the world’s biggest exporters who will discuss cutting output to help shore up prices and curb excess supply.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
