Business & Finance News
Home improvement chain Lowe’s Companies Inc announced the closure of another 51 underperforming stores in the United States and Canada on Monday as it strives to compete with rival Home Depot Inc in a slowing housing market.
The S&P 500 and the Dow Jones Industrial Average rose on Monday, supported by energy stocks and strong results from Berkshire Hathaway Inc, while a 3 percent drop in Apple Inc shares dragged down the Nasdaq.
The boss of Japan’s Takeda Pharmaceutical said on Monday he was confident of securing investor backing for its $62 billion acquisition of London-listed Shire , despite some shareholders’ fears about the resulting debt burden.
Goldman Sachs Group Inc is tracking ahead of its goal to generate $5 billion in additional annual revenue by 2020 as growth initiatives bear fruit, and sees opportunities to grow its businesses further, its new finance chief said on Monday.
The United States imposed strict sanctions on Iran on Monday and threatened more action to stop Tehran pursuing “outlaw” policies, steps the Islamic Republic condemned as economic warfare and vowed to defy.
U.S. President Donald Trump’s national security adviser John Bolton said there will be additional U.S. sanctions on Iran after the Trump administration on Monday re-imposed oil and economic sanctions, but gave no other details.
The Nasdaq opened lower on Monday, dragged down by a more than 2 percent fall in Apple Inc shares, while a jump in energy stocks supported the S&P 500 and the Dow Jones industrial index.
Oil prices recovered some ground on Monday after five days of heavy losses as the United States imposed a range of punitive sanctions on Iran, aiming to curb exports by the Islamic Republic, including its sales of fuel.
Lowe’s Companies Inc is closing 20 underperforming stores in the United States and 31 in Canada as part of a restructuring, the home improvement retailer said on Monday.
Iran is not concerned about reimposed U.S. sanctions and will not yield to pressure to change its policies, a senior Iranian official said on Monday.
Goldman Sachs Group Inc is ahead of its goal to generate $5 billion in additional annual revenue by 2020, having already achieved half that amount in the first nine months of this year, the Wall Street bank said on Monday.
The United States announced a new raft of sanctions on Iran on Monday and threatened further action to pressure its old adversary, steps the Islamic Republic condemned as “economic war” and vowed to defy.
The United States has granted exemptions to eight countries allowing them to temporarily continue buying Iranian oil, Secretary of State Mike Pompeo said on Monday, as Washington reimposed sanctions on Iran’s banking, energy and shipping industries.
Iran said it would defy tough sanctions reimposed by Washington on Monday, dismissing as “economic war” the U.S. drive to curb Tehran’s missile and nuclear programs and diminish its influence in the Middle East.
The United States re-imposed and strengthened economic sanctions on Iran’s oil, banking and transportation sectors on Monday after the Trump administration withdrew from the 2015 Iran nuclear deal, and vowed further action to pressure Tehran.
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