Business & Finance News
Wells Fargo has agreed to pay $2.09 billion in penalty to settle claims related to mortgage loans originated in the run-up to the financial crisis.
Amazon.com Inc and other retail and logistics companies said on Wednesday they had started a new group to lobby to keep the U.S. Postal Service’s package delivery services “reliable and affordable.”
The United States and Mexico are getting close to a deal on the key issue of autos content rules at talks to renew the NAFTA trade pact, Mexican and Canadian officials said on Wednesday.
Ferrari’s new boss sought to reassure investors that he would execute midterm targets set by his predecessor, Sergio Marchionne, but the stock fell more than 8 percent on Wednesday when he described the goals to 2022 as “aspirational”.
The U.S. Federal Reserve kept interest rates unchanged on Wednesday but characterized the economy as strong, keeping the central bank on track to increase borrowing costs in September.
Wells Fargo will pay $2.09 billion in penalty for alleged misrepresentation of loan quality, the U.S. Department of Justice said on Wednesday.
Major automakers on Wednesday reported lower U.S. new vehicle sales for July amid steep declines in passenger cars, except Fiat Chrysler Automobiles NV (FCA) , which said its sales climbed 6 percent.
The benchmark S&P 500 index dipped on Wednesday, ahead of the Federal Reserve’s decision on interest rates, but Apple’s robust earnings lifted the technology sector and the Nasdaq.
Tesla Inc – the most heavily shorted U.S. company – is set to report quarterly results on Wednesday, and short-sellers could be dealt a nearly $850 million loss or gain, depending on the direction of the post-earnings stock move.
U.S. manufacturing activity slowed in July amid signs that a robust economy and import tariffs were putting pressure on the supply chain, which could hurt production in the long term.
Sanofi and Novartis said on Wednesday they planned to increase stockpiles of medicines in Britain in preparation for potential disruption if the UK crashes out of the European Union without a deal.
Facebook Inc’s WhatsApp messenger service will start charging businesses for sending marketing and customer service messages, it said on Wednesday, as the social network company’s flagship brand faces slowing usage and revenue growth.
World stocks were mixed on Wednesday, with fears of an imminent escalation in the tariff war between the U.S. and China holding back gains, though robust results form technology giant Apple Inc boosted a key index on Wall Street.
U.S. stocks rose on Wednesday as Apple’s robust earnings lifted the high-growth technology sector and eased worries of an escalating trade war between the United States and China.
Shares of Apple Inc touched the $200 mark for the first time and neared a $1 trillion valuation on Wednesday, after the company forecast blowout current-quarter sales and analysts said a September launch of new iPhones set the stage for sustained growth.
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