Business & Finance News
Wall Street’s main indexes were set to open higher on Monday as expectations of a U.S.-China trade truce were strengthened by a report that the two sides were nearing an agreement, while a raft of blockbuster deals also buoyed sentiment.
Saudi Aramco’s executives met officials of Abu Dhabi Investment Authority (ADIA) on Monday to discuss a potential investment in the oil giant’s share sale that could raise as much as $25.6 billion, three sources familiar with the talks said.
Charles Schwab Corp agreed on Monday to buy TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion, creating a brokerage giant in a market that has been ravaged by price wars.
The U.S. holiday shopping period kicking off on Friday may heighten Wall Street’s perception of a growing divide between retailers adapting to online sales and those unable to shake their reliance on dwindling shopping mall traffic.
Blackstone Group Inc said on Monday it will invest $400 million in a joint venture with Swiss drug company Ferring that is working on an experimental gene therapy for bladder cancer, the private equity giant’s largest ever bet on drug development.
A U.S.-based foundation overseeing promising semiconductor technology developed with Pentagon support will soon move to Switzerland after several of the group’s foreign members raised concerns about potential U.S. trade curbs.
General Electric Co has named Carolina Dybeck Happe, currently finance chief at shipper AP Moller-Maersk as its chief financial officer, the latest in a slew of management changes aimed at stabilizing the U.S. industrial conglomerate.
A.P. Moller-Maersk’s finance chief Carolina Dybeck Happe will leave the shipping group to take up a similar position at General Electric early next year, the companies said on Monday.
U.S. stock index futures rose on Monday as expectations of a trade truce were strengthened by a report that the world’s two largest economies were “very close” to a deal, while jeweler Tiffany surged after agreeing to a sale.
World shares staged a cautious rally on Monday as investors held out for some progress in U.S.-China trade talks, while the dollar dipped after its latest rally on the back of strong U.S. economic data.
Chinese buyers scooped up at least 20 cargoes of Brazilian soybeans last week due to uncertainty over a trade deal with the United States that sent them rushing to lock in supplies, traders said on Monday.
Charles Schwab Corp will buy TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion, the two largest U.S. discount brokerages said on Monday, as they try to fend off competition from newer rivals.
General Electric Co has named Carolina Dybeck Happe, currently finance chief at shipper AP Moller-Maersk as its chief financial officer, bringing in more new blood at the top of the struggling U.S. industrial conglomerate.
Uber was stripped of its London operating license on Monday for the second time in just over two years after the city’s regulator said a “pattern of failures” on safety and security meant the taxi app was not fit and proper.
Uber will appeal Monday’s decision by London’s transport regulator to strip the firm of its license in the city, saying it has taken steps to change its business model and sets the standard on safety.
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