Business & Finance News
California power producer PG&E Corp said on Tuesday it plans to raise up to $25.68 billion by selling securities, as it works its way out of the bankruptcy process.
U.S. Trade Representative Robert Lighthizer will meet with Britain’s trade minister Liz Truss this week, British government officials said on Tuesday, as the two allies gear up for post-Brexit trade talks that could prove contentious.
Billionaire Richard Branson’s space tourism company, Virgin Galactic Holdings Inc , said on Tuesday its fourth-quarter net loss widened to $73 million from a year-ago loss of $46 million as it reported its first results as a publicly traded company.
Walt Disney Co’s Robert Iger will step down as chief executive officer, handing the reins to Disney Parks head Bob Chapek, the company said on Tuesday, ending years of speculation on who will take over Hollywood’s most powerful studio.
The Dow and the S&P 500 tumbled 3% on Tuesday in their fourth straight day of losses as the coronavirus spread further around the world and investors offloaded risky assets as they struggled to gauge the economic impact.
Technology shares — a key engine of the stock market’s climb to records over the last several months — are now among those leading Wall Street’s plunge on growing concerns over the coronavirus outbreak.
Stocks and oil prices tumbled again on Tuesday and the benchmark U.S. debt yield hit a record low on growing concern about the effects of the spread of coronavirus on the global economy.
Crude prices fell about 3% on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus grew after the U.S. government warned Americans to prepare for the disease.
JPMorgan Chase & Co executives tried to reassure investors on Tuesday that the bank can thrive during times of market and economic stress, due to the sheer size and breadth of its global operations.
JPMorgan Chase & Co is putting more cash into overnight lending markets and holding less for a rainy day, after discussing the matter with regulators, the bank’s finance chief said on Tuesday.
Wall Street’s main semiconductor benchmark tumbled into correction territory on Tuesday in its deepest four-day rout since the financial crisis, as the coronavirus spread further around the world and deepened fears about the global economy.
Walt Disney Co on Tuesday said Robert Iger will step down as chief executive officer and will continue in the role of chairman.
Billionaire Richard Branson’s space tourism company, Virgin Galactic Holdings Inc , said on Tuesday net losses widened to $73 million in the fourth quarter from $46 million in the year-ago period, in its first financial results as a publicly traded company.
The Federal Reserve is “closely monitoring” the escalating coronavirus outbreak but it is still too soon to gauge if it would require a change in monetary policy, Fed Vice Chair Richard Clarida said on Tuesday as the central bank continues to patiently monitor the impact of the epidemic on the U.S. economy.
The Dow and S&P 500 tumbled 3% on Tuesday in their fourth straight day of losses as the coronavirus spread further around the world and investors offloaded risky assets as they struggled to gauge the economic impact.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
