Business & Finance News
U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.
U.S. business inventories barely rose in June and the inventory-to-sales ratio fell to more than a 3-1/2-year low, suggesting businesses would need to ramp up the accumulation of stock, which would boost economic growth in the third quarter.
Macy’s Inc on Wednesday reported a surprise rise in quarterly same-store sales and raised its full-year forecasts, but its shares fell 9 percent with some analysts attributing the drop to profit taking following the stock’s run-up this year.
U.S. stocks opened lower on Wednesday as investors assessed the impact of Turkey’s currency crisis and escalating trade tensions between the United States and its trading partners.
U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.
U.S. stock index futures pointed to a lower opening on Wednesday, with investors weighing the impact of Turkey’s currency crisis as well as the escalating tariff tensions between the United States and its trading partners.
Financial Times Chief Executive John Ridding is to give some of his 2.6 million pound ($3.3 million) salary back to the company after a group of the newspaper’s reporters complained about his pay, according to an email to staff seen by Reuters.
U.S. entrepreneur and cryptocurrency investor Michael Terpin filed a $224 million lawsuit on Wednesday against telecommunications company AT&T , accusing it of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account.
Macy’s Inc on Wednesday reported a surprise rise in quarterly same-store sales, topping estimates for the third straight quarter, boosted by strong performance across its businesses.
Brazil’s antitrust watchdog Cade is considering opening an investigation into Google over alleged abuses in its cell phone operating system, the president of the agency said in an interview published on Wednesday in newspaper Valor Economico.
U.S. stock index futures dropped on Wednesday, with investors weighing the impact of Turkey’s currency crisis as well as the escalating tariff tensions between the United States and its trading partners.
U.S. private equity firm Blackstone Group LP has signed a deal to invest $400 million in Hong Kong-listed YiChang HEC ChangJiang Pharmaceutical Co. via convertible bonds, HEC said Wednesday.
Constellation Brands Inc said on Wednesday it would invest $4 billion (C$5.24 billion) more in Canopy Growth Corp , raising its stake in the Canadian marijuana producer to 38 percent.
The Home Shopping Network is getting an image makeover.
Turkish trade minister Ruhsar Pekcan says the doubling of customs tarrifs on some imported U.S. products would amount to $533 million, the state run Anadolu news agency reported.
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