Business & Finance News
Novartis may ratchet up its 2018 sales outlook, its finance chief said on Wednesday, despite halting planned U.S. drug price hikes amid pressure on the industry from President Donald Trump’s administration over the high cost of medicines.
Berkshire Hathaway Inc shares rose on Wednesday after its board gave its billionaire chairman, Warren Buffett, more freedom to conduct stock buybacks, which the conglomerate has not done since 2012.
Boeing Co is in talks with Airbus and other companies about joining its bid for a 4 billion euro ($4.7 billion) heavy-lift helicopter contract in Germany, the head of business development for Boeing’s defence unit said on Wednesday.
President Donald Trump said on Wednesday the United States may hammer out a separate trade deal with Mexico, continuing to sow doubts about the future of the North American Free Trade Agreement that he has frequently criticized, and then do a deal with Canada later.
Ryanair is to cancel more than 12 percent of its flights for two days next week in its biggest-ever strike as cabin crew escalate a staff revolt that began among disaffected pilots last year.
Airplane manufacturers are working to adapt jets to reduce the number of pilots needed for long-haul flights and to build new cockpits designed for a single aviator in order to ease a global pilot shortage and cut airline costs.
Federal Reserve Chairman Jerome Powell, questioned by members of a House congressional committee, repeated on Wednesday that rising world protectionism would over time pose a risk to a U.S. and global expansion that appears largely on track to continue.
Goldman Sachs analysts said on Wednesday the U.S. government would likely introduce a two-month bill issue at the November refunding and begin raising the auction size of five-year notes by a greater amount than its recent increase.
Following is a summary of commercial aircraft deals announced by Airbus and Boeing at the Farnborough Airshow in southern England.
The U.S. dollar hit a three-week high on Wednesday against a basket of major currencies in the wake of an upbeat view of the economy by the U.S. Federal Reserve, while oil prices resumed a recent pullback and gold slumped to a year low.
Morgan Stanley’s top executive criticized the Federal Reserve’s annual health checks of the biggest U.S. lenders and predicted changes to the tests going forward after his bank reported better-than-expected quarterly earnings on Wednesday.
Sinclair Broadcast Group Inc said on Wednesday it will reverse course and not divest three television stations in hopes of winning approval of its $3.9 billion acquisition of Tribune Media Co after the Federal Communications Commission chairman said he had “serious concerns” about the deal.
Engine maker Rolls-Royce is exploring the idea of using robots inspired by snakes and cockroaches to help it inspect and repair engines in the future, the company’s researchers said at the Farnborough Airshow.
Germany has said 1,050 owners of the Tesla Model S must forgo a 2,000 euro electric car subsidy because the value of their vehicles surpasses an eligibility threshold.
Chinese e-commerce giant Alibaba Group Holding Ltd on Wednesday said it has agreed to acquire a minority stake in China’s Focus Media Information Technology Co Ltd to tap into the digital marketing sector.
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