Business & Finance News
General Electric Co still expects the grounding of Boeing Co’s 737 MAX jetliner to reduce its cash flow by $1.4 billion in 2019, provided the aircraft remains grounded all year, GE Chief Executive Larry Culp said during a conference call on quarterly earnings on Wednesday.
Boeing Chief Executive Dennis Muilenburg said on Wednesday Southwest Airlines Inc had a $1 million per plane rebate clause in a contact with Boeing Co if its 737 MAX planes required new simulator training.
Chile withdrew on Wednesday as the host of an APEC summit next month at which the United States and China had been expected to sign a deal to ease a trade war that has hurt the global economy, as raging street protests gripped the South American country.
The boards of French automaker Peugeot SA and Fiat Chrysler Automobiles NV on Wednesday agreed to pursue a $50 billion merger, sources familiar with the matter said, a deal that could transform the global auto industry.
The supervisory board of Peugeot maker PSA on Wednesday gave Chief Executive Carlos Tavares the go-ahead to pursue a $50 billion merger with Italy’s Fiat Chrysler Automobiles NV , a source familiar with the matter said, moving the companies closer to a deal that could transform the global auto industry.
A proposed merger between France’s Groupe PSA and Fiat Chrysler Automobiles would give FCA access to Peugeot’s more modern and flexible vehicle architectures, potentially enabling the combined companies to achieve lower costs through higher production volumes, a global auto analyst said on Wednesday.
Uber Technologies Inc on Wednesday sued a Chicago suburb over a new ride share tax, while calling on Illinois lawmakers to address the state’s “emerging patchwork” of taxation.
Facebook Inc reported better-than-expected quarterly revenue on Wednesday and a rise in profit as growth in expenses slowed from a year earlier and the number of users ticked higher, assuaging investor fears of fallout from fierce scrutiny by regulators and lawmakers.
Lack of transparency in the Commerce Department’s handling of steel and aluminum tariffs raised the appearance that certain companies may have had “improper influence” in the process, its internal watchdog said in a document made public on Wednesday.
The Federal Reserve on Wednesday cut interest rates for the third time this year to help sustain U.S. growth despite a slowdown in other parts of the world, but signaled there would be no further reductions unless the economy takes a turn for the worse.
Boeing Chief Executive Dennis Muilenburg on Wednesday spurned repeated calls to step down by U.S. lawmakers and from the mother of a young woman who was a victim of one of two 737 MAX crashes that killed 346 people.
Apple Inc on Wednesday forecast sales for the crucial holiday shopping quarter that beat Wall Street expectations, with Chief Executive Tim Cook saying that new iPhone 11 models were off to “a very, very good start” as sales of AirPods, Apple Watches and streaming services continue to rise.
Facebook Inc reported better-than-expected quarterly revenue on Wednesday and profit rose as growth in expenses slowed from a year earlier, assuaging investor fears of financial fallout from fierce scrutiny by regulators and lawmakers of the world’s largest social media company.
Starbucks Corp beat quarterly same-restaurant sales estimates on Wednesday, as the world’s largest coffee chain’s loyalty program and new delivery options boosted demand and helped fend off competition, especially in the U.S. and China.
Wall Street gained ground and U.S. Treasury yields fell on Wednesday after the Federal Reserve signaled a pause in the current easing cycle following the expected announcement of a rate cut.
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