Business & Finance News
U.S. bank shares fell for a third straight session on Monday as investor appetite for risk weakened on worries that a currency crisis in Turkey would spread to other countries.
U.S. economic growth will probably accelerate this year before slowing in 2019 to well below the Trump administration’s 3 percent target as a fiscal stimulus fades, congressional researchers projected on Monday.
Tesla Inc Chief Executive Elon Musk said on Monday a July 31 meeting with Saudi Arabia’s sovereign wealth fund convinced him he could secure funding to take the electric car-maker private, but that he was still talking to the fund and other investors as he seeks to nail down financing.
Short sellers betting against Tesla trimmed their exposure to the electric car maker’s stock on Monday after Chief Executive Elon Musk gave new information about his proposal to take the company private.
The S&P 500 and the Dow industrials fell on Monday as a global contagion of market jitters arising from the plunge of Turkey’s currency spread to Wall Street, while the Nasdaq edged higher on gains from tech stocks.
VF Corp , one of the world’s biggest apparel makers, will spin off Lee and Wrangler jeans into a separate public company, it said on Monday, allowing it to focus on its more profitable Vans sneakers and The North Face outerwear businesses.
Tesla Inc Chief Executive Elon Musk said on Monday a July 31 meeting with Saudi Arabia’s sovereign wealth fund convinced him he could secure funding to take the electric car-maker private, but that he was still talking to the fund and other investors as he seeks to nail down financing.
U.S. stock indexes fell on Monday as a plummeting Turkish lira weighed on shares of big U.S. lenders, but losses on the Nasdaq were limited by high-flying companies such as Apple and Amazon that hit record highs.
Citigroup Inc said on Monday that Jud Linville, the head of global cards and consumer services, is leaving the company as part of a reorganization of executives in its global consumer banking businesses.
Turkey’s economic crisis poses a threat to European banks with business in the country.
Tesla Inc Chief Executive Elon Musk said on Monday he was in discussions with Saudi Arabia’s sovereign wealth fund and other potential backers of his plan to take the electric car-maker private, but said financing was not yet nailed down.
The S&P 500 index treaded water on Monday as high-flying companies such as Apple and Amazon hit record highs, offsetting declines in shares of U.S. lenders due to a plunge in Turkish lira.
NEW YORK – Turkey’s worsening currency crisis sent world equities lower and emerging market currencies under selling pressure on Monday, while gains in large U.S. technology companies kept benchmark indexes slightly higher.
Citigroup Inc said Jud Linville, head of global cards and consumer services, is leaving the bank as part of a reorganization of executives in its global consumer banking businesses.
Visitors to Turkey flocked to its high-end shops to snap up bargains on Monday, their purchasing power buoyed by a currency crisis as the country’s lira sank to a record low beyond 7 per dollar.
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