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Updated: 1 hour 39 min ago

China requests removal of additional tariffs as per Osaka consensus: Global Times editor in chief

Wed, 08/14/2019 - 18:43
China is asking that it and the United States remove all additional tariffs in line with a consensus reached between the two sides in Osaka, Japan, at the G20 summit at the end of June, the editor in chief of China's Global Times newspaper wrote on Wednesday.
Categories: Financial Media

U.S. import prices rebound, but trend still subdued

Wed, 08/14/2019 - 17:50
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Categories: Financial Media

Macy's shares sink as discounts to clear inventory hurt, tourism drops

Wed, 08/14/2019 - 17:17
Macy's Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.
Categories: Financial Media

Oil slumps more than 4% on weak global economic data, U.S. crude build

Wed, 08/14/2019 - 17:12
Oil prices sank more than 4% on Wednesday after global demand fears were revived by weak economic data from China and Europe and an unexpected build in U.S. crude inventories.
Categories: Financial Media

Ford extends warranty on 560,000 Focus, Fiesta models

Wed, 08/14/2019 - 17:04
Ford Motor Co said on Wednesday it was extending warranty on clutch and related hardware in 560,000 Focus and Fiesta cars that were reported to have had problems with their six-speed transmission.
Categories: Financial Media

Stocks, oil tank on growing signs of global slowdown

Wed, 08/14/2019 - 17:01
Equity markets tanked and oil prices fell sharply on Wednesday after a closely watched bond indicator pointed to the growing risk of a U.S. recession that was heightened by data showing Germany's economy in contraction and China's worsening.
Categories: Financial Media

Wall Street tumbles on rising fears of recession

Wed, 08/14/2019 - 16:55
Wall Street main indexes slid more than 2% on Wednesday, as a closely watched U.S. bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.
Categories: Financial Media

Trade tensions and a weaker yuan drive Chinese crypto demand, market players say

Wed, 08/14/2019 - 16:48
Trade tensions between the United States and China and a weakening yuan are boosting demand for cryptocurrencies among Chinese investors, market players from Asia to New York said.
Categories: Financial Media

FCC chairman circulates order to approve Sprint, T-Mobile tie-up

Wed, 08/14/2019 - 16:38
Federal Communications Commission Chairman Ajit Pai on Wednesday circulated a draft order that would grant approval to the $26 billion tie-up of T-Mobile Us Inc and Sprint Corp.
Categories: Financial Media

U.S. import prices rebound, but trend remains subdued

Wed, 08/14/2019 - 16:37
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Categories: Financial Media

Novartis says top R&D executives no longer at Avexis unit after test data manipulation

Wed, 08/14/2019 - 16:14
Novartis said on Wednesday the two top research & development executives at its Avexis unit were no longer at the company after some data from early testing of Avexis's more than $2-million gene therapy Zolgensma was manipulated.
Categories: Financial Media

U.S. yield curve inversion highlights recession fears, Fed dilemma

Wed, 08/14/2019 - 16:02
When the U.S. Federal Reserve cut interest rates last month for the first time in more than a decade, it signaled that further reductions in borrowing costs might not be needed. Bond markets vehemently disagree.
Categories: Financial Media

China's Tencent cautious after surge in quarterly profit

Wed, 08/14/2019 - 15:52
China's Tencent Holdings , the world's largest gaming company by revenue, warned on Wednesday of a difficult economic environment even as it reported a better-than-expected 35% jump in quarterly profit.
Categories: Financial Media

Macy's not looking to raise prices if new tariffs imposed: CEO

Wed, 08/14/2019 - 15:37
Macy's Inc Chief Executive Officer Jeff Gennette said on Wednesday that the department store chain would not raise prices on products if the Trump administration goes ahead with its latest 10% tariffs.
Categories: Financial Media

WeWork preps for IPO with growing revenues and widening losses

Wed, 08/14/2019 - 15:18
WeWork owner The We Company on Wednesday published detailed financial statements for the first time, showing it lost more than $900 million in the first half of 2019 while revenue doubled, as it steps up preparations for an initial public offering next month.
Categories: Financial Media

Oil prices fall on weak global economic data

Wed, 08/14/2019 - 14:44
Oil prices fell on Wednesday on weak global economic data and a rise in U.S. crude inventories, almost erasing the previous session's strong gains which followed the United States' move to delay tariffs on some Chinese products.
Categories: Financial Media

U.S. import prices unexpectedly rise, but trend still weak

Wed, 08/14/2019 - 14:44
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Categories: Financial Media

Wall St. opens lower as recession signals grow

Wed, 08/14/2019 - 14:41
U.S. stocks fell at open on Wednesday, as a closely-watched bond market indicator pointed to a renewed risk of recession, undoing gains from the previous session due to a retreat by Washington on its latest tariffs on Chinese goods.
Categories: Financial Media

Macy's sinks as poor spring season hits profit

Wed, 08/14/2019 - 14:36
Macy's Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted heavily to clear spring inventory, sending its shares down 17%.
Categories: Financial Media

Novartis names Bulto as new head of U.S. drugs business

Wed, 08/14/2019 - 13:54
Swiss drugmaker Novartis has named company veteran Victor Bulto as head of its U.S. pharmaceuticals business, effective on Sept. 1.
Categories: Financial Media

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