Business & Finance News
Greater certainty around Argentina’s public policies could help reactivate growth and investments in the recession-hit South American country, the International Monetary Fund said on Wednesday.
Second-tier banks in Italy, Spain and possibly Germany are likely to consider mergers this year in a bid to boost returns which are insufficient to cover their cost of equity, the chief executive of investment bank Mediobanca said.
Ford Motor Co owned Lincoln Motor on Wednesday confirmed its plans to make battery-powered electric vehicles in partnership with Ford-backed startup Rivian.
President Donald Trump on Wednesday signed a new North American trade agreement during an outdoor ceremony at the White House attended by about 400 guests – but not the key Democrats who helped secure congressional passage of the deal.
Wall Street investment banks JPMorgan and Morgan Stanley have been placed on the Hong Kong Stock Exchange’s “named and shamed” list after the $300 million initial public offering (IPO) of Chinese biotech company Akeso Inc. was sent back for not meeting the correct regulatory requirements.
Beyond Meat said on Wednesday it will supply plant-based “fried chicken” to several KFC stores in Tennessee and North Carolina, after a test conducted last year showed strong consumer demand.
McDonald’s Corp beat quarterly sales forecasts on Wednesday and said it would spend more on technology and research in 2020, as the world’s largest burger chain bets on revamped stores and menu additions to lure diners and gain market share.
Goldman Sachs Group Inc on Wednesday set targets to grow its fledgling consumer unit and transaction banking business while improving efficiency and returns to shareholders, but urged patience at its first-ever investor day presentation.
Global equity markets edged higher on Wednesday on strong results from Apple and others but concerns about the coronavirus outbreak in China dampened investor enthusiasm, keeping a safe-haven bid in gold and the dollar alive.
Oil was mixed on Wednesday as worries about the impact of the coronavirus outbreak and swelling crude inventories in the United States weighed on prices, while talk that OPEC could extend oil output cuts provided support.
U.S. stock indexes retreated from early highs on Wednesday as a spate of disappointing earnings reports offset strong gains in Apple and Boeing, while investors assessed the economic impact of the fast-spreading coronavirus outbreak.
The U.S. Federal Reserve will end its latest policy meeting on Wednesday with interest rates likely on hold, adjustments to its balance sheet under discussion, and China’s widening coronavirus outbreak posing an unexpected risk to the global economy.
General Electric Co plans to slash 737 MAX engine deliveries to Boeing Co roughly in half this year but set higher cash target for 2020 as it reported quarterly profit and cash flow that beat analysts’ estimates on Wednesday.
The United States on Wednesday urged Britain to rethink its decision to allow China’s Huawei a role in 5G networks, cautioning that American information would only be allowed to pass across trusted networks.
Britain’s decision to allow China’s Huawei to have a role in its 5G networks does not affect the country’s ability to securely share intelligence data, Prime Minister Boris Johnson’s spokesman said on Wednesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
