Business & Finance News
U.S. stocks turned lower on Wednesday as early support from tame consumer prices data and a rebound in oil prices faded, with Apple Inc leading a decline in technology stocks.
Oil prices rebounded on Wednesday on hopes for output cuts after a steep drop a day earlier, while the dollar held losses against a basket of currencies following data showing U.S. inflation increased at a rate in line with expectations.
Sears Holdings Corp is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday.
The U.S. National Transportation Safety Board opened an investigative hearing on Wednesday into the fatal engine explosion on a Southwest Airlines Boeing 737 that killed one passenger.
Sears Holdings Corp is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday.
A raft of profit warnings from Apple Inc suppliers this week has fueled investor concerns that iPhone sales, in terms of volume, have hit a wall that could spell trouble for the company’s plans to make services its main pillar of growth.
A group of three law firms representing multiple victims of California’s deadliest wildfire has filed a lawsuit against PG&E Corp alleging negligence and health and safety code violations by the utility company in the blaze that has killed at least 48 people.
Blue Apron Holdings Inc said on Wednesday it would sacrifice overall revenue growth and cut marketing expenses in 2019, sending shares into volatile decline.
A group of three law firms representing multiple victims of California’s deadliest wildfire has filed a lawsuit against PG&E Corp alleging negligence and health and safety code violations by the utility company in the blaze that has killed at least 48 people.
Shares of utility PG&E Corp fell 18 percent on Wednesday after the company warned of liquidity concerns if its equipment was found responsible for starting the Camp wildfire currently raging in California.
U.S. stocks were set to open higher on Wednesday, after consumer prices in October rose as expected, keeping the Federal Reserve on track for gradual interest rate hikes, while a rebound in oil prices lifted energy stocks.
A group of three law firms has filed lawsuit against PG&E Corp alleging negligence and health and safety code violations by the utility company in California’s deadliest ever wildfire and seeking damages for victims of the fire.
U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again next month.
OPEC and its partners are discussing a proposal to cut oil output by 1.4 million barrels per day (bpd), three sources familiar with the issue said, although Russia may not be on board for such a large reduction.
Shares of the utility PG&E Corp fell 18 percent after the company said if it was found liable for the Camp fire raging in California, the damages could be more than its insurance coverage and hurt cash flow and liquidity.
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