Business & Finance News
Amazon.com briefly became the most valuable company on Wall Street in intraday trade on Monday, days after Microsoft Corp dethroned long-time leader Apple .
U.S. Supreme Court justices on Monday appeared skeptical of further limiting the scope of who can be held liable for violating laws that protect investors from securities fraud as they weighed an appeal by a New York investment banker who had been banned from the industry.
President Donald Trump and top U.S. officials said on Monday that a trade truce with China will lead to structural changes in Beijing’s economic policies, including lower tariffs, lower non-tariff barriers and more market access for U.S. companies.
U.S. Trade Representative Robert Lighthizer will lead negotiations with China over tariffs, market access and structural changes to intellectual property practices over the next 90 days, the White House has confirmed, potentially signaling a harder U.S. line.
Trade-sensitive industrial and technology stocks pushed Wall Street higher on Monday after the United States and China agreed on a temporary trade truce, hopes of which had driven the market last week to post its biggest gain in nearly seven years.
President Donald Trump and top U.S. officials said on Monday that a trade truce with China will lead to structural changes in Beijing’s economic policies, including lower tariffs, lower non-tariff barriers and more market access for U.S. companies.
China vowed over the weekend to move immediately on new commitments it made to improve trade relations with the United States, a top White House official said on Monday.
U.S. construction spending fell for a third straight month, government data showed on Monday, while private-sector figures showed an uptick in manufacturing order growth but offered a mixed view on overall factory activity.
A temporary ceasefire in the U.S.-China trade war boosted global stocks to their highest in about three weeks on Monday, while sending the dollar lower and the Chinese yuan and several trade-dependent currencies higher.
Indonesia’s Lion Air is reviewing airplane purchases from Boeing Co and has not ruled out cancelling orders as relations worsen in a spat over responsibility for a 737 jetliner crash that killed 189 people in late October.
Oil prices jumped by more than 3 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada’s Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.
Qatar said it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader of the oil exporting group which is trying to show unity in tackling an oil price slide.
GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1 billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors.
BMW expects headwinds from rising currency and commodities prices to reach a mid to high triple-digit million euro amount in 2019, Chief Financial Officer Nicolas Peter said in a statement on Monday.
Several carmakers reported a drop in new car sales in the United States in November, hurt by rising car prices and higher interest rates as well as further declines in sales of sedans.
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