Business & Finance News
The New York Stock Exchange (NYSE) said on Tuesday it had filed with the U.S. Securities and Exchange Commission to allow companies going public through a direct listing, instead of a traditional initial public offering, to raise capital.
Wall Street stocks have leap-frogged over a host of concerns, including a stall in corporate earnings and political controversy in Washington, on their way to record highs this month.
The U.S. goods trade deficit fell sharply in October as both exports and imports declined, pointing to a continued reduction in trade flows that has been blamed on the Trump administration’ “America First” policy.
Xerox Corp said on Tuesday it was planning to take its $33.5 billion buyout bid directly to HP Inc shareholders after the personal computer maker refused to open its books for due diligence before a deadline.
Wall Street’s main stock indexes opened flat on Tuesday, after closing at record highs in the previous session, with a handful of retailers reporting mixed results ahead of the latest batch of consumer confidence data.
Oil prices rose on Tuesday on hopes of progress towards a trade agreement between the United States and China, the world’s biggest oil users, and predictions of a draw on U.S. crude inventories.
The U.S. Commerce Department on Tuesday set out a procedure to protect U.S. telecommunications networks and their supply chains from national security threats, saying it would consider whether to bar transactions on a case-by-case basis.
The United States and China are close to a trade agreement, White House adviser Kellyanne Conway said on Tuesday, but three of the biggest sticking points remain.
Volkswagen’s luxury car unit Audi on Tuesday said it would cut one in ten jobs, freeing up billions of euros to fund its shift toward electric vehicle production.
Best Buy Co Inc signaled it expected a strong holiday shopping season by forecasting fourth-quarter profit above Wall Street estimates on Tuesday, sending the shares of the biggest U.S. tech retailer up 5% in premarket trading.
Abercrombie & Fitch Co reported a better-than-expected 3% rise in same-store sales at its flagship brand on Tuesday, but said tariffs would hurt gross profit in the current quarter.
Dollar Tree Inc on Tuesday forecast holiday-quarter profit below Wall Street expectations, as the discount store operator expects a hit from U.S. tariffs on Chinese imports, sending its shares down about 8% before the opening bell.
London Stock Exchange shareholders overwhelmingly backed the exchange’s $27 billion takeover of data and analytics company Refinitiv on Tuesday, a deal designed to broaden LSE’s trading business and make it a major distributor of market data.
Discount store operator Dollar Tree Inc reported better-than-expected quarterly sales on Tuesday, as revamped stores and new products drew more shoppers to its namesake and the Family Dollar chain.
Audi on Tuesday announced a major restructuring scheme, slashing around 9,500 jobs until 2025 in an effort to adopt production to the e-mobility era and achieve billion-euro cost savings.
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