Business & Finance News
German state prosecutors confirmed they searched the Munich offices of investor BlackRock as part of a probe into an illicit tax trading scheme but exonerated the company’s local chairman, who is vying to succeed Chancellor Angela Merkel.
Michael Kors Holdings recorded weaker sales at retail stores in Europe during the quarter ended September, causing the high-end handbag maker to report lower revenue than Wall Street was expecting.
U.S. satellite TV service provider Dish Network Corp reported a 5 percent fall in quarterly revenue on Wednesday as it leaked more subscribers in the face of cheaper options like Netflix and Hulu.
Wall Street looked set for a surge on Wednesday and global stocks rose after sharp U.S. election gains for the opposition Democrats, but the outcome, which casts doubt on further tax cuts, hit the dollar and sent Treasury yields lower.
General Electric Co and other large companies are trying to chip away at rising childbirth costs for U.S. employees, working directly with hospitals to reduce cesarean sections and related complications.
German state prosecutors in Cologne executed a search warrant at Blackrock’s offices in Munich on Tuesday, a spokesman said, adding that the company’s country chairman, Friedrich Merz, was not suspected of wrongdoing.
General Electric and Rolls Royce are the two finalists to supply engines for a new long-haul jet developed by a Russian-Chinese joint venture that aims eventually to switch to a Sino-Russian engine, a chief designer of the aircraft said.
Adidas cut its 2018 revenue forecast on Wednesday after third quarter sales fell in western Europe, where it was hit by changing fashions and Nike’s gains in soccer.
The Russian-Chinese joint venture developing a new long-haul jet is choosing between General Electric’s GEnX and Rolls Royce’s Trent 7000 engines and plans to make a decision by the first half of next year, one of its chief designers said.
Boeing Co said on Wednesday it had issued a safety bulletin reminding pilots how to handle erroneous data from a key sensor in the wake of last week’s crash in Indonesia.
Wall Street was set for a modestly firmer open on Wednesday and global stocks rose after significant U.S. election gains for the opposition Democrats, but the outcome may rule out further tax cuts, sending the dollar and Treasury yields sharply lower.
U.S. stock futures pointed to strong opening gains on Wall Street on Wednesday after mid-term elections handed the House of Representatives to the Democrats but saw Republicans reinforce their control of the Senate.
Ahold Delhaize’s chief executive on Wednesday confirmed the Dutch retailer will partner with start-up Takeoff to build small, automated warehouses to speed order picking and cut delivery times from its U.S. stores.
The U.S. stock market may be facing the remainder of Donald Trump’s presidential term with the prospect of less juice to supercharge it.
Goldman Sachs Chief Executive David Solomon said on Wednesday it was “very distressing” that two former employees “blatantly broke the law” in their dealings with Malaysian state fund 1MDB.
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