U.S. judge approves PG&E deal with California wildfire victims; stock jumps
A U.S. bankruptcy judge approved on Tuesday PG&E Corp’s $13.5 billion settlement with victims of Californian wildfires, and the company’s stock rallied as the utility gained momentum to emerge from bankruptcy in June as planned.
Irish plane lessor sues Boeing for 737 MAX-related losses
An Ireland-based plane lessor sued Boeing Co on Tuesday for breaching a contract for 22 of the U.S. planemaker’s 737 MAX aircraft and sought a compensation of $185 million.
Oil dips after U.S. stock build, but demand hopes support
Oil retreated on Wednesday after rising more than 1% in the previous session as U.S. industry data showed a surprise build in crude stocks, but hopes for firmer demand next year checked a deeper fall in prices.
PG&E submits multi-party proposal for California wildfires
PG&E Corp said on Tuesday it submitted a multi-party settlement agreement related to the 2017 and 2018 wildfires in Northern California to the California Public Utilities Commission (CPUC).
FedEx cuts 2020 profit forecast – again – as seven-day delivery costs weigh
FedEx Corp on Tuesday issued its second warning for fiscal 2020 profit as it spent heavily to launch Sunday delivery in time for the holidays, the continued tariff fight restrained global trade, and it grappled with fallout from its breakup with Amazon…
Asia shares rest at highs, sterling licks wounds
Asian stocks took a breather at 18-month peaks on Wednesday having climbed for five straight sessions, while the British pound was licking its wounds as revived Brexit fears came back to bite it.
WeWork arranges $1.75 billion credit line with Goldman Sachs
Shared workplace operator WeWork said on Tuesday it has arranged a $1.75 billion letter of credit with Goldman Sachs that is in the process of being syndicated and whose funds are expected to be available in January.
UK ad watchdog asks BAT to remove some Instagram posts on e-cigarette
British American Tobacco (BAT) must stop advertising its e-cigarettes from any public account on Instagram, including influencers’ accounts, the UK’s advertising watchdog ruled on Wednesday.
Boeing 737 MAX freeze divides suppliers into haves and have-nots
Boeing Co’s decision to suspend aerospace’s biggest production line exposes contrasts in the U.S.-dominated 737 MAX supply chain, severely straining some niche machine shops while giving engine giants time to iron out their own wrinkles.
FedEx cuts 2020 profit, cites ‘significant challenges’
FedEx Corp on Tuesday issued its second warning on fiscal 2020 profit after quarterly earnings fell sharply on lackluster global trade and the end of its relationship with Amazon.com, the world’s top online retailer.
