Business & Finance News
German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern.
The National Retail Federation on Monday raised its U.S. retail sales forecast for 2018, citing higher wages, gains in disposable income and a strong job market that have boosted consumer spending.
U.S. stock indexes inched higher on Monday as shares of technology companies gained, offsetting a plunge in the Turkish lira that weighed on shares of big U.S. lenders.
Tesla Chief Executive Elon Musk said on Monday he was still in talks with potential backers of a possible buyout of the company, including Saudi Arabia’s sovereign wealth fund, but had not completed securing the funding.
Bayer shares plunged as much as 14 percent on Monday, losing about $14 billion in value, after newly acquired Monsanto was ordered to pay $289 million in damages in the first of possibly thousands of U.S. lawsuits over alleged links between a weedkiller and cancer.
Saudi Arabia’s sovereign wealth fund has been pushing to take electric carmaker Tesla private in talks with Chief Executive Elon Musk dating back nearly two years and also backed the deal last week, Musk said in a blog post on Monday.
U.S. stock indexes opened flat on Monday as a meltdown in the Turkish lira that dragged on shares of big U.S. lenders was offset by an uptick in technology stocks.
Netflix Inc Chief Financial Officer David Wells will step down after eight years in the role, the video streaming company said on Monday.
Independent music labels group Impala has called on EU antitrust regulators to block Sony Corp’s bid to become the world’s largest music publisher with its $2.3 billion offer for control of EMI, saying the combination would have too much market power.
Tesla Inc Chief Executive Officer Elon Musk said the Saudi Arabian sovereign wealth fund has expressed support for funding a deal that could take the electric car maker private.
Former Audi Chief Executive Rupert Stadler’s request to be freed from custody has been rejected, the Munich court of appeal said on Monday.
Brazil’s Congress should be consulted on a plan for U.S. planemaker Boeing Co to take over the commercial jet unit of Embraer SA , the speaker of Brazil’s lower house of Congress said in a newspaper interview published on Monday.
Shares in Europe’s major banks lost further ground on Monday, as concerns about Turkey’s deepening currency crisis spread to other emerging markets.
U.S. stock index futures fell on Monday as a meltdown in Turkish lira weighed on shares of big U.S. lenders and triggered a widespread selloff in global equities.
Barclays has begun shifting direct ownership of its French, German and Spanish branches from a British-based entity to its Irish bank, according to sources with direct knowledge of the plans, ahead of Britain’s exit from the European Union.
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