Business & Finance News
U.S. stock indexes were set to open lower on Monday as the latest round of U.S.-China tariffs took effect, with neither country showing signs of backing down from a protracted trade war.
Uber’s fastest-growing market in the world is now Argentina, company executives say, attributing the expansion to the nation’s sudden economic unraveling, which has boosted unemployment and sliced the purchasing power of Argentines.
U.S. fashion group Michael Kors Holdings Ltd has agreed to take control of Italy’s Versace in a deal that could value the company at $2 billion, sources familiar with the matter said on Monday.
Symantec Corp said on Monday that it would not restate previous financial results except for a specific $13 million transaction, following a four-month long probe into the Norton anti-virus maker’s accounting practices, sending its shares up about 4 percent.
Saudi Arabia and Russia won’t add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Monday, predicting prices will probably rise further.
Satellite radio firm Sirius XM Holdings Inc will buy music streamer Pandora Media Inc in a $3.5 billion all-stock deal, as it seeks to build scale to battle heavyweight streaming rivals Spotify and Apple Music.
European stock markets traded in negative territory on Monday as fears of an escalating trade row between the United States and China spread from Asian markets, while oil rallied after OPEC ignored U.S. calls to raise global supply.
The new S&P 500 communication services sector, which includes such high-profile names as Facebook , Alphabet and Netflix , is set to debut on Monday, as part of the largest-ever overhaul of Wall Street’s broad business sectors.
Swedish truckmaker AB Volvo has stopped assembling trucks in Iran because U.S. sanctions are preventing it from being paid, a spokesman for the company said on Monday.
U.S. fashion group Michael Kors Holdings Ltd has sealed an agreement to take control of Italy’s Versace, three sources familiar with the matter said on Monday, adding that an official announcement would be made this week.
Shares in Sky jumped 9 percent on Monday to within touching distance of the 17.28 pounds a share Comcast bid to beat Twenty-First Century Fox in the battle for Europe’s biggest pay-TV group.
Danske Bank’s board is close to appointing a new chief executive to replace Thomas Borgen who resigned last week amid a money laundering scandal, Danish online media Finans reported on Monday, citing unnamed sources.
Randgold Resources Ltd said on Monday it agreed to the terms of a recommended share-for-share merger with Canada’s Barrick Gold Corp in a deal worth $18.3 billion.
European stock markets traded in negative territory on Monday as fears of an escalating trade row between the United States and China spread from Asian markets, while oil rallied as U.S. sanctions restricted Iranian crude exports.
The United States and China imposed fresh tariffs on each other’s goods on Monday as the world’s biggest economies showed no signs of backing down from an increasingly bitter trade dispute that is expected to knock global economic growth.
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