Business & Finance News
Equities around the world took a dive led by emerging market stocks on Wednesday and commodities tumbled as investors looked for safety due to worries about China and Turkey.
Wall Street fell in a day of heavy trading on Wednesday with the S&P 500 posting its biggest percentage drop since late June as investors turned risk-averse on disappointing earnings and escalating global tariff worries.
Cisco Systems Inc reported quarterly revenue above Wall Street estimates on Wednesday, driven by growth in the network gear maker’s newer businesses such as cyber security.
The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira.
U.S. stocks closed lower on Wednesday, with the S&P 500 posting its biggest daily percentage decline since June, as investors turned risk averse on a series of disappointing earnings and escalating global tariff worries.
Uber Technologies Inc [UBER.UL] said on Wednesday it narrowed its quarterly losses from a year earlier, although the ride-hailing company is still a long way from proving it can be profitable as it gears up to go public in 2019.
Google has added a section to its twice-yearly transparency report to show who buys U.S. election ads on its platform and how much money is spent on political advertising, the search engine giant said on Wednesday.
Turkey’s Gulf ally Qatar pledged $15 billion of investment into the Turkish economy on Wednesday, offering further support to a lira rally after the central bank tightened liquidity and curbed selling of the currency.
The White House on Wednesday condemned Turkey’s doubling of tariffs on U.S. imports in response to Washington’s moves on imports of Turkish goods.
Turkey and Qatar will improve cooperation after Doha pledged to invest $15 billion in Turkey, Turkish Finance Minister Berat Albayrak said on Wednesday.
The United States said on Wednesday the European Union and four of its planemaker states have failed to bring subsidies for Airbus into line with a WTO ruling of last May, an accusation refuted by the EU.
U.S. stocks sold off on Wednesday on concerns over a strengthening dollar, Turkey’s currency crisis and global trade tensions, with all three major indexes on track for their worst days since late June.
French pilot unions hit out at the possible appointment of Air Canada’s chief operating officer Benjamin Smith as Air France-KLM’s new boss, after several newspapers reported that he was poised to be named to the job on Thursday.
The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding Chief Executive Elon Musk’s plan to take the company private and his statement that funding was “secured,” Fox Business Network reported on Wednesday, citing sources.
Equities around the world took a dive on Wednesday, with emerging market stocks set to confirm a bear market and the dollar hitting a 13-month high, while weakness in China’s yuan rattled investors’ nerves.
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