Business & Finance News
A broad gauge of Asian equities made a slight recovery on Friday from three-week lows hit the previous day, with gains limited by investors’ uncertainty over chances of China and the United States striking a preliminary deal soon to end their trade war.
The board of Australia’s second largest bank on Friday apologized unreservedly for 23 million breaches of money laundering laws, but stood by management despite pressure from politicians to review its leadership.
Tesla Inc on Thursday unveiled its first electric pickup truck that looked like a futuristic angular armored vehicle in gunmetal gray, as the California company took aim at the heart of Detroit automakers’ profits.
Charles Schwab Corp is in advanced talks to acquire TD Ameritrade Holding Corp , a person familiar with the matter said on Thursday, in a deal that could exceed $26 billion and combine the two largest U.S. discount brokerages.
Tesla Inc on Thursday unveiled its first pickup truck, delivering on a promise by Chief Executive Elon Musk to build an electric version of America’s favorite vehicle and one that threatens the heart of Detroit automakers’ profits.
A bipartisan group of 15 U.S. senators urged the Commerce Department to suspend issuing licenses to U.S. firms that conduct business with China’s Huawei Technologies Co, saying it could threaten U.S. security.
Asian equities posted a mild bounce on Friday from three-week lows hit the previous day, with persistent worries over the status of trade negotiations between China and the United States limiting the gains.
Societe Generale’s regional heads of trade and commodities finance for Asia Pacific have left the Paris-based bank, raising concerns among Singapore-based shipping fuel traders that it may wind back financing services to the sector.
Goldman Sachs became the first major investment bank to cut its target price for Westpac Banking Corp on Friday as Australia’s No.2 lender faces allegations of massive breaches of anti-money laundering laws and billions of dollars in fines.
An Australian bond fund has started to divest Westpac bonds following allegations by the country’s financial crime regulator of money laundering compliance breaches, some of which related to financing child exploitation.
Panasonic Corp has no plans to build a new battery plant for Tesla Inc in China, the Japanese company’s chief executive said, as it struggles to make profits from its existing battery business with the electric vehicle maker.
Asian equities rose on Friday, bouncing from a three-week low touched a day earlier, but gains were capped by persistent worries over the status of trade negotiations between China and the United States.
Goldman Sachs cut its target price for Westpac Banking Corp on Friday as Australia’s second-biggest bank stands accused of massive breaches of anti-money laundering laws and faces billions of dollars in fines.
Gap Inc edged past lowered expectations for quarterly profit on Thursday and reiterated its plan to separate Old Navy from the namesake brand, days after the retailer cut its annual forecast and replaced longtime chief executive officer.
Nordstrom Inc raised its 2019 forecast, unlike many competitors, and reported third-quarter profit above Wall Street expectations on Thursday as it sold more off-price clothing and kept inventories in check, sending the retailer’s shares up about 8% in extended trading.
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