Some of the biggest bets taken by his predecessor Rex Tillerson, now the U.S. secretary of state, have resulted in billions of dollars in write-downs amid falling production and a stock price that has long lagged peers. That leaves Woods facing the prospect of slow growth and billions of dollars in new spending that could
Ant Financial and MoneyGram have already refiled for clearance from Committee on Foreign Investment in the United States (CFIUS) when they were unable to secure it within an assessment period after the first application, Reuters reported in July, citing sources. “We are not commenting on the CFIUS process, but we are continuing to work with
AT&T is working with a financial adviser to field interest in the assets, which could be valued at more than $8 billion, the people added, asking not to be named because the matter is private. Liberty Global PLC (LBTYA.O), Spanish telecommunications company Telefonica SA and Millicom International Cellular SA (MICsdb.ST), a wireless player in Latin
U.S. equity investors could rotate out of high-yielding sectors and into stocks of banks, which would benefit from the next leg up in interest rates, after the Federal Reserve’s policy-setting meeting wraps up on Wednesday. If the Fed next week gives a nod to rising inflation or focuses its trimmed-down bond buying on longer-dated bonds
A.P. Moller-Maersk has been fortified by the $7.5 billion sale of its oil and gas business to France’s Total, but the company’s main sea freight business faces the threat of a new price war in a consolidating industry. Maersk, the world’s biggest container shipping company, has shifted its focus this year from preserving market share
China’s largest sport utility vehicle (SUV) manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned
On Goldman’s fixed income earnings call, Vince said Goldman had added $5 billion of online deposits since it acquired General Electric Co’s online deposits business in 2016. Goldman has also added 60,000 new customers since then, with a focus on U.S. savers. Goldman has around $125.5 billion in deposits, still a small fraction of deposits
The Nasdaq Composite, however, was kept in check by losses in healthcare shares, led by Regeneron. The drugmaker’s (REGN.O) shares were down 3.84 percent after a rating downgrade. All eyes will now be on the quarterly performance of Dow-component Apple (AAPL.O), which reports after the closing bell. The iPhone maker’s shares were up 0.11 percent.
Samsung Electronics Co Ltd (005930.KS) said on Tuesday it will invest at least $18.6 billion in South Korea to extend its lead in memory chips and next-generation smartphone displays, in a plan that promises to create almost half a million jobs. The investment underscores Samsung’s determination to widen its lead in memory chips, which are
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months.
Blue Apron Holdings Inc said on Monday it expected its initial public offering to be priced at $15 to $17 per share, giving the biggest U.S. meal kit delivery company a valuation as high as $3.18 billion. New York-based Blue Apron, named after the uniform that apprentice chefs wear in France, delivers pre-packaged ingredients and
Snap Inc (SNAP.N) has many similarities with archrivals Facebook Inc (FB.O) and Twitter Inc (TWTR.N), but shareholders are eager to avoid one in particular when the social media company reports earnings on Wednesday for the first time since its initial public offering: a plunging stock price. Investors delivered a stern message of disappointment to Facebook
Imagine taking your next trip of a couple hundred miles. New York City to Boston, for example. Or Houston to Dallas. Tampa to Miami. The obvious choice now might be to drive. But what if you could show up at an airport at one of those cities, bypass security checkpoints, board a small hybrid-electric plane
Members of the Porsche-Piech clan that controls Volkswagen (VOWG_p.DE) will no longer be eligible to serve as executives of the carmaker, Porsche Automobil Holding SE (PSHG_p.DE) Chairman Wolfgang Porsche told a German newspaper. “That no family member is active in the operating business must apply to Porsche SE and the whole Volkswagen group,” Frankfurter Allgemeine
Deutsche Bank AG (DBKGn.DE) has opened a new center in New York to work with financial technology startups that can help it improve its technology. Based in Lower Manhattan’s Fulton Center, the lab’s team will help the bank deploy technology in artificial intelligence, cloud and cyber security and other areas, the German bank said on
Apple Inc unveiled an updated version of its iPad tablet on Tuesday, starting at $329 and available to order from Friday. Apple also said its smaller iPhone SE model will be available in 32 and 128 gigabyte (GB) versions, replacing the 16 GB and 64 GB models.
Wal-Mart Stores Inc (WMT.N) reported higher-than-expected U.S. sales on Tuesday for the crucial holiday quarter as its low prices attracted more customers to its stores and online activity accelerated. Shares of the world’s largest retailer rose more than 3 percent as its results bucked a string of disappointing holiday sales figures from rivals including Target
Samsung Group leader Jay Y. Lee left a Seoul court after more than eight hours on Thursday to await a decision on whether he will be arrested over his alleged role in a corruption scandal that has engulfed President Park Geun-hye. The 48-year-old Lee, wearing a dark coat and navy tie, kept his head down
A key business lobby warned Britain’s government Monday not to play favorites among industries when it negotiates the country’s exit from the European Union, saying that ignoring any sector would hurt the entire economy. The Confederation of British Industries and the international law firm Clifford Chance also said in a new report that it is
U.S. President Donald Trump and South Korean Acting President Hwang Kyo-ahn agreed to take steps to strengthen joint defense capabilities to defend against North Korea’s nuclear threat, the White House said on Sunday after a telephone call between the two leaders. “President Trump reiterated our ironclad commitment to defend (South Korea), including through the provision