Business & Finance News
The Nasdaq slumped nearly 3 percent and the Dow and S&P fell more than 1 percent on Monday as investors pulled out of Apple and internet shares, while conflicting signals over the state of play between the United States and China on their trade dispute added to caution.
Kroger Co has chosen its hometown of Cincinnati for the first of 20 high-tech warehouses it plans to build with online grocer Ocado Group Plc in a bid to dominate the U.S. grocery delivery business.
World stocks fell on Monday as worries about softening demand for the iPhone dragged down shares of Apple Inc and persistent trade tensions between China and the United States sapped investor sentiment.
American Airlines pilots union on Monday urged the carrier to begin negotiations for a new labor contract in January to boost compensation.
French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.4 billion to resolve pending legal disputes.
U.S. stocks tumbled on Monday, with the S&P 500 and Dow Jones industrial Average shedding about 2 percent and the Nasdaq down more than 3 percent.
Kroger Co has chosen its hometown of Cincinnati for the first of 20 high-tech warehouses it plans to build with online grocer Ocado Group Plc.
A University of Chicago-trained economist named as the next chief of Brazil’s Petrobras threw his support behind the sale of the state oil company’s non-core assets and called for it to focus on exploration and production.
Brent crude futures fell in choppy trade on Monday, under pressure from growing supply but supported by a reported drawdown of U.S. oil inventories, potential European Union sanctions on Iran and possible OPEC production cuts.
The Dow Jones Industrial Average shed more than 400 points on Monday, as a slump in Apple shares battered the tech sector, with conflicting signals over the state of play between the United States and China on their trade dispute kept investors on edge.
The Federal Reserve is pushing ahead with gradual rate-hike plans next month as it marches toward a more normal policy stance that would keep the economy expanding, one of its most influential members said on Monday in the face of growing doubts in financial markets.
The whistleblower who revealed alleged money laundering involving Danske Bank said on Monday that a major European bank helped process up to $150 billion in suspicious payments and two U.S. lenders were also involved.
French bank Societe Generale said on Monday it agreed to pay $1.3 billion in penalties to the U.S. authorities to settle a dispute over violations of U.S. economic sanctions, adding the fines were entirely covered by provisions.
Barclays Plc is not liable to investors who bought its U.S.-listed stock a few months before the 2008 financial crisis and accused the British bank of hiding its risky debt exposure and a capital shortfall, a U.S. court ruled on Monday.
French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.34 billion to resolve investigations into its handling of dollar transactions in violation of U.S. sanctions, the Federal Reserve said.
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