WeWork bond drops, spread hits a record on report of delayed share tender
WeWork’s junk bond price dropped and its risk premium shot to a record high on Thursday following a report that its main backer still hasn’t delivered on a plan to buy $3 billion of stock from existing shareholders.
S&P 500 notches record, shakes off Cisco’s gloomy outlook
The benchmark S&P 500 stock index posted a slim gain to end with a record closing high on Thursday, as a dour forecast from tech stalwart Cisco Systems was offset by a strong report from big box retailer Walmart.
U.S. charges two former Herbalife executives in China over bribery scheme: source
U.S. prosecutors criminally charged two former executives of Herbalife Nutrition Ltd’s Chinese unit with running a decade-long scheme to bribe Chinese government officials to win business and evade regulatory scrutiny, a person familiar with the matte…
Huawei, ZTE ‘cannot be trusted’ and pose security threat: U.S. attorney general
Huawei Technologies Co and ZTE Corp “cannot be trusted,” U.S. Attorney General William Barr said, labeling the Chinese firms a security threat as he backed a proposal to bar U.S. rural wireless carriers from tapping an $8.5 billion government fund to…
Ford uses Mustang name, hoping new electric SUV will zap Tesla
Ford Motor Co will tag its new electric sport utility vehicle (SUV) with the Mustang name, the automaker said on Thursday, seeking to entice customers into a new era by linking it to the model whose groundbreaking design in the 1960s combined sportine…
City and union officials to consult on Philadelphia refinery sale process: U.S. court
A U.S. bankruptcy judge on Thursday approved a process for the sale of the Philadelphia Energy Solutions oil refinery, the largest and oldest on East Coast, under which city officials and a trade union will consult on the matter.
PayPal halts payment support to PornHub models
PayPal Holdings Inc said on Thursday it had stopped payment support to PornHub’s models after it found the adult entertainment website made certain payments without the permission of the payment processor.
Stocks, yields fall as China slowdown deepens
World stocks edged lower and debt yields fell on Thursday as Chinese economic data slowed in October and Germany narrowly avoided a recession in the third quarter, adding to concerns about the impact of the U.S.-China trade war on global growth.
Fed’s Kaplan says strong consumer will help the U.S. economy avoid recession in 2020
Dallas Federal Reserve Bank President Robert Kaplan said he does not expect the U.S. economy to enter a recession next year, and he was optimistic that the strong consumer can help the U.S. economy overcome potential headwinds.
European pilot group demands action over Ryanair sick leave policy
The European Cockpit Association (ECA) pilot group has urged regulators to take action over what it described as a “safety hazard” caused by Ryanair’s approach to flight crews’ sick leave, according to a letter seen by Reuters.
