Business & Finance News
Just four months after Apple Inc breached the $1 trillion mark, the iPhone maker has all but lost its lead as Wall Street’s most valuable company and is on the verge of being replaced by Microsoft Corp .
Wall Street rebounded on Monday as buyers returned in force after last week’s sell-off and expectations of a flurry of holiday cyber-spending drove up shares of online retailers.
Argentina is on the verge of signing a deal with the United States that would allow two-way trade of fresh beef for the first time in nearly two decades, the South American country’s international trade secretary, Marisa Bircher, said.
Standard Chartered Plc is considering simplifying its structure as it looks to curb costs across its networks from Zambia to Macau, Bloomberg reported https://bloom.bg/2P3jiBW on Monday, citing sources.
General Motors Co chief executive Mary Barra is set to meet with White House economic adviser Larry Kudlow on Monday, hours after the company announced plans to shutter five North American plants and slash thousands of jobs, two people briefed on the matter said.
General Motors Co’s plan to close three North American assembly plants and two transmission plants next year could affect nearly 6,000 workers, according to data on GM’s media website.
Oil prices rose about 3 percent on Monday, clawing back some of the previous session’s steep losses, although gains where capped by uncertainty over global economic growth and further signs of increasing supply, including record Saudi production.
U.S. stocks rebounded on Monday after two bruising weeks, as investors picked up beaten-down energy and financial stocks, while retailers gained on hopes of robust sales on the largest online shopping day of the year.
Bitcoin plunged more than 12 percent on Monday, extending falls in recent weeks in a broad-based selloff in digital currencies as sentiment sours.
Venezuela’s oil ministry last month turned down a proposal by BP to buy Total’s stake in a promising but inactive natural gas project along the maritime border with Trinidad and Tobago, five people briefed on the matter said.
Cyber Monday was on track to bring in a record $7.8 billion in U.S. online sales, but will also test the limits of retailers’ e-commerce operations as millions of shoppers scour for steep discounts on everything from Lego sets to big-screen TVs.
Campbell Soup and Third Point LLC settled their proxy contest on Monday by adding two of the hedge fund’s nominees to the U.S. food company’s board and giving the activist investor a say in selecting Campbell’s next CEO, the company said.
General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles.
Canadian Prime Minister Justin Trudeau on Monday expressed his “deep disappointed” in General Motors Co’s decision to close its Oshawa plant, a move Canadian officials only learned about on Sunday and which led workers to walk off the job on Monday.
U.S. stocks rebounded on Monday after two bruising weeks, as investors bought into beaten down sectors such as energy and financials, while retailers gained on hopes of blockbuster sales on the largest online shopping day of the year.
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