Business & Finance News
A group representing major automakers will tell the U.S. Commerce Department on Thursday that imposing tariffs of 25 percent on imported cars and parts would raise the price of U.S. vehicles by $83 billion annually and cost hundreds of thousands of jobs.
Citgo Petroleum Corp [PDVSAC.UL], the U.S. subsidiary of Venezuelan state-run oil company PDVSA [PDVSA.UL], said on Wednesday that the U.S. visa of its President and Chief Executive Asdrubal Chavez has been revoked.
The S&P 500 rose to its highest in more than five months and the Dow climbed for a fifth session on Wednesday as solid earnings boosted financial and industrial stocks and reinforced expectations for a strong second-quarter reporting season.
A threat by the U.S. government to impose tariffs of up to 25 percent on imported auto parts could hit consumers in unexpected ways: higher repair costs, insurance premiums and even the theft of more cars for their parts, the industry said.
Aluminum producer Alcoa Corp lowered its forecast for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for 2018 on Wednesday, citing U.S tariffs on imported aluminum and rising energy costs.
EBay Inc forecast third-quarter profit below analysts’ estimates on Wednesday as efforts to revamp its e-commerce platforms failed to impress investors.
American Express Co reported a steep rise in quarterly expenses as the credit card issuer spent more to fund its rewards program, overshadowing its profit beat and sending its shares down 3.5 percent in extended trading.
The U.S. Justice Department has proposed an expedited schedule for an appeal of a judge’s ruling that allowed AT&T Inc to buy movie and TV show maker Time Warner, according to a court filing on Wednesday.
EBay Inc reported a 7.7 percent rise in quarterly profit on Wednesday, as tweaks to its websites and a focus on marketing drew more shoppers at a time when it has been trimming its workforce.
Federal Reserve Chairman Jerome Powell’s official line on U.S. trade policy is one of careful deference to the Trump administration, acknowledging it is outside the Fed’s responsibility and that it might all turn out for the best.
American Express Co reported a 21 percent rise in quarterly profit on Wednesday as a strengthening U.S. economy drew in more customers and encouraged higher credit card spending.
International Business Machines Corp on Wednesday reported second-quarter revenue that beat analysts’ expectations as it benefited from growth in higher-margin businesses including cybersecurity and cloud computing.
The S&P 500 hit a five-month high and the Dow rose for a fifth consecutive session on Wednesday as solid earnings boosted financial and industrial stocks and reinforced expectations for a strong second-quarter reporting season.
Three distressed asset funds have sued for the right to participate in a 4 billion reais ($1 billion) capital increase for Brazilian telecom Oi SA as part of its in-court restructuring, four sources with knowledge of the matter told Reuters this week.
U.S. President Donald Trump said on Wednesday that European leaders were coming to Washington next week to try to hammer out a deal focused largely on car tariffs, while his top economic adviser accused Chinese President Xi Jinping of holding up a U.S.-China trade deal.
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