Business & Finance News
LVMH CEO Bernard Arnault is exploring ways to reopen negotiations on the French luxury goods giant’s $16.2 billion acquisition of U.S. jewelry chain Tiffany & Co , as U.S. social unrest and the coronavirus pandemic weigh on the retail sector, people familiar with the matter said on Wednesday.
President Donald Trump’s administration on Wednesday barred Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to let U.S. air carriers resume flights amid simmering tensions between the world’s two largest economies.
A gauge of global equity markets rose and the euro gained against the dollar on Wednesday, both for a seventh session, in signs of strong risk appetite as easing lockdowns and hopes for more monetary stimulus boosted investor confidence.
Deutsche Bank could face enforcement action by New York regulators investigating its ties to the late U.S. financier and accused sex offender Jeffrey Epstein, two sources familiar with the investigation told Reuters on Wednesday.
French government and industry officials are negotiating a 1-billion-euro, privately led investment fund for small aerospace suppliers in which major manufacturers could invest 200 million euros, people familiar with the proposals said on Wednesday.
SoftBank Group Corp is launching a $100 million fund to invest in “companies led by founders and entrepreneurs of colour”, in the latest corporate action as protests roil the United States.
A federal judge said Apple Inc must face part of a lawsuit claiming it fraudulently concealed falling demand for iPhones, especially in China, leading to tens of billions of dollars in shareholder losses.
New orders for U.S.-made goods plunged in April and business spending plans on equipment were much weaker than initially thought, suggesting business investment remained depressed early in the second quarter amid the COVID-19 pandemic.
A jump in Boeing shares lifted Wall Street on Wednesday, with investors remaining optimistic about an economic rebound from a coronavirus-led slump amid continuing social unrest in the country.
President Donald Trump’s administration said on Wednesday it will bar Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to allow U.S. air carriers to resume flights.
Airbus is looking to hold underlying jet output at 40% below pre-pandemic plans for two years, an approach which adds new pressure to cut thousands of jobs, industry sources said.
New orders for U.S.-made goods plunged in April, suggesting business spending remained depressed early in the second quarter amid the COVID-19 pandemic.
Warner Music Group Corp said on Wednesday it raised $1.93 billion in the biggest U.S. initial public offering (IPO) so far in 2020, with the world’s third-largest recording label selling more shares than originally planned.
Oil fell after touching its highest since March at more than $40 a barrel on Wednesday as doubts emerged about the timing and scale of a potential extension to the oil supply pact between OPEC and its allies.
President Donald Trump’s administration plans to bar Chinese passenger carriers from flying to the United States starting in mid-June as it pressures Beijing to allow U.S. air carriers to resume flights, three U.S. and airline officials briefed on the matter told Reuters.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
