Business & Finance News
U.S. stocks rose for a second day on Wednesday, as investors snapped up beaten-down technology favorites and strong results for General Motors and a host of other companies lifted spirits at the end of a torrid month for global equities.
U.S. Supreme Court justices, in an internet privacy case involving Google, disagreed on Wednesday over whether to rein in a form of settlement in class action lawsuits that awards money to charities and other third parties instead of to people affected by the alleged wrongdoing.
General Motors Co on Wednesday stepped up efforts to cut costs in response to tariff and market pressures, even as it reported third-quarter profit that blew past Wall Street expectations.
U.S. stocks rose for a second day on Wednesday, as investors snapped up technology favorites and strong results for General Motors and a host of others lifted spirits at the end of a torrid month for global equities.
Carlyle Group LP on Wednesday missed estimates for earnings per unit for the third quarter, as the value of its private equity investments rose less than that of rivals on the back of turbulent markets in Asia.
European Union finance ministers will discuss next week a watered down proposal on an EU-wide digital tax, a document seen by Reuters shows, trying to persuade reticent governments to agree on the plan by the end of the year.
Anthem Inc on Wednesday said its own expectations for 2019 earnings are ahead of current Wall Street estimates and the health insurer also raised its 2018 profit forecast, and its shares rose as much as 5 percent.
Canada’s Barrick Gold and takeover target Randgold Resources are boosting their dividend payouts ahead of shareholder votes next week on their $6.1 billion deal, the miners said Wednesday.
The U.S. Federal Reserve unveiled a proposal on Wednesday that would ease regulations for banks with less than $700 billion in assets.
Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October that saw equities suffer one of their worst drops since the financial crisis ten years ago.
U.S. private sector payrolls increased by the most in eight months in October, suggesting overall job growth accelerated this month after Hurricane Florence weighed on restaurant and retail employment in September.
The S&P 500 and the Nasdaq were on track to post their first two-day gain this month on Wednesday, as Facebook led a slew of encouraging earnings reports that boosted sentiment at the end of a tumultuous October for global markets.
Sprint Corp beat Wall Street’s estimates for quarterly revenue, profit and overall net subscriber additions on Wednesday, driving shares in the No. 4 U.S. wireless carrier 9 percent higher in morning trading.
General Motors Co said on Wednesday it plans to cut its North American salaried workforce, starting with voluntary buyout offers but resorting to layoffs if necessary.
U.S. stocks opened higher on Wednesday and were set for a second day of gains at the end of a brutal month, as Facebook led a slew of encouraging earnings reports.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
