UK union seeks meeting with Peugeot over potential Fiat tie-up fears
Britain’s biggest trade union Unite wants a meeting with management at French carmaker Peugeot over its possible tie-up with Fiat Chrysler, saying merger talks and uncertainty over Brexit are “deeply unsettling” for workers at British plants.
Fidelity Contrafund cuts value of WeWork stake by 35%
Fidelity Investments cut the value of Contrafund’s stake in WeWork Companies Inc by 35% in September amid turmoil surrounding the office-sharing startup’s failed initial public offering (IPO).
Magna International to build hybrid transmissions for BMW
Canadian auto-parts maker Magna International said on Wednesday it would build dual-clutch and hybrid transmissions for German carmaker BMW under a multi-year contract.
Former Exxon chief Rex Tillerson testifies in climate change fraud trial
Former Exxon Mobil Corp Chief Executive Rex Tillerson took the witness stand in Manhattan state court on Wednesday to testify in a closely watched civil lawsuit accusing the company of hiding the true cost of climate change from investors.
Consumers prop up U.S. economy as business spending retrenches
U.S. economic growth slowed less than expected in the third quarter as declining business investment was offset by resilient consumer spending and a rebound in exports, further allaying financial market fears of a recession.
General Electric CEO does not expect 737 MAX to be in service this year
General Electric Co is not planning for the Boeing Co 737 MAX jetliner to return to service this year, GE Chief Executive Officer Larry Culp said during an earnings phone conference on Wednesday.
GrubHub, Pizza Hut troubles dent Yum profits; shares fall
Yum Brands Inc missed third-quarter profit expectations on Wednesday, hit by a write down in the value of its investment in delivery company GrubHub and unrelenting troubles at its Pizza Hut chain.
Wall Street set to open slightly higher; Fed decision looms
Wall Street was set to open slightly higher on Wednesday as investors digested another set of earnings reports ahead of a widely expected interest rate cut by the Federal Reserve later in the day.
Oil slips on cloudy U.S.-China trade picture
Oil prices fell on Wednesday as worries about a possible delay in resolving the U.S.-China trade war, which has hurt global oil demand, competed with a price-supporting drop in U.S. crude inventories.
Facebook agrees to pay UK fine over Cambridge Analytica scandal
Facebook has agreed to pay a 500,000 pound ($644,000) fine for breaches of data protection law related to the harvesting of data by consultancy Cambridge Analytica, Britain’s information rights regulator said on Wednesday.
