Business & Finance News
U.S. stocks pulled back on Monday from near-record levels, as Apple and healthcare shares fell and investors braced for a busy week of political and economic news, including a potential turning point in the U.S.-China trade dispute.
Australia’s Westpac Banking Corp faces a showdown with investors at its annual meeting this week, seeking to hold back an avalanche of outrage over a money laundering scandal that includes accusations of enabling child exploitation payments.
Mexican President Andres Manuel Lopez Obrador on Monday urged U.S. House Speaker Nancy Pelosi to decide on ratification of a North American trade pact, even as Mexican business groups fretted that proposed changes were weakening the deal.
Global equity markets traded flat on Monday as investors hoped officials would delay more U.S. tariffs set to take effect on Chinese goods this coming Sunday, while gold held firm as investors hedged against a possible escalation in the trade war.
Morgan Stanley is cutting about 2% of its workforce globally due to an uncertain global economic outlook, according to a source familiar with the matter.
U.S. stocks pulled back on Monday from near record levels, dragged lower by healthcare and technology shares, as investors braced for a busy week of political and economic news including a potential turning point in the U.S.-China trade dispute.
Morgan Stanley is cutting about 2% of its workforce due to an uncertain global economic outlook, CNBC reported on Monday citing people familiar with the matter.
German automaker Volkswagen AG on Monday was charged with importing nearly 128,000 vehicles into Canada contravening the country’s environmental legislation, a Canadian government agency said.
ViacomCBS is planning to sell the CBS headquarters in New York, known as Black Rock, as it seeks to cut costs from the combined company, Chief Executive Officer Bob Bakish told reporters Monday.
Wall Street’s main indexes fell in afternoon trading on Monday, with investors keeping a close watch on U.S.-China trade relations as planned tariffs on Chinese imports kick in on Dec. 15.
Brazil’s record-low interest rates and exchange rate threaten to accelerate Amazon deforestation, which has already risen sharply under Brazil’s farm-friendly President Jair Bolsonaro, economists tell Reuters.
Private equity firm Tiger Global Management has cut its valuation of e-cigaratte maker Juul Labs Inc by half to $19 billion, the Wall Street Journal reported on Monday.
Saudi Arabia’s finance minister on Monday said that reinvesting money from the initial public offering (IPO) of oil group Saudi Aramco would help to create more revenue channels for the government.
Amazon.com Inc on Monday accused U.S. President Donald Trump of exerting “improper pressure” and bias that led the Department of Defense to award a lucrative $10 billion cloud contract to rival Microsoft Corp .
Witness testimony began Monday over an effort by U.S. state attorneys general to stop T-Mobile U.S. from buying Sprint Corp , in a case that highlights disagreements between federal antitrust enforcers, who are Republican, and Democrats in powerful states.
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