Bitcoin plunges to five-month low vs dollar after Zuckerberg testimony
Bitcoin’s price dropped on Wednesday to its lowest level against the dollar since the middle of May after Facebook Chief Executive Officer Mark Zuckerbeg, in testimony before Congress, expressed doubts about whether the company’s cryptocurrency project…
Snap drops as Wall Street puts focus on disappointing revenue outlook
Shares of Snap Inc fell 6% on Wednesday, as Wall Street focused more on a disappointing revenue outlook than regulators no longer investigating the company over whether it misled investors at the time of its 2017 initial public offering.
Metro Bank reports third-quarter loss, deposit outflows as Chairman exits
Britain’s troubled Metro Bank reported a loss for the third quarter, said its chairman Vernon Hill has stepped down two months early, and warned it may have to curb its growth plans as it battles to recover from an accounting scandal.
WeWork’s Claure warns layoffs are coming
WeWork’s new executive chairman Marcelo Claure wrote in a memo to employees on Wednesday that layoffs were in the works at the U.S. office-space sharing start-up following a $9.5 billion rescue financing deal with SoftBank Group Corp.
Caterpillar cuts profit outlook as China construction sales slump
Industrial bellwether Caterpillar Inc reported a drop in sales in the United States and China in the third quarter, leading it to cut its outlook for the year and adding to evidence that the global economy is firmly on the decline.
Health insurer Anthem signals better-than-feared 2020 earnings, shares rise
Anthem Inc on Wednesday signaled earnings for 2020 could be better than feared, allaying some concerns that rising medical costs are eating into profits and sending shares of the No. 2 health insurer up 4%.
Nasdaq eyes upside from free e-trades as profit tops expectations
Nasdaq Inc may see its market share of retail stock executions increase as a result of online brokers moving to free trades, the transatlantic exchange operator said on Wednesday after releasing better-than-expected quarterly financial results.
Boeing hit with new industrial setbacks as 737 MAX crisis deepens
Boeing Co cut production of its flagship Dreamliner and delayed the arrival of a successor to its 777 mini-jumbo, piling new pressures on a rejigged senior management team on Wednesday as the continued safety grounding of its 737 MAX sliced third-quar…
Sales of Eli Lilly diabetes drug Trulicity fall short, shares drop
Eli Lilly and Co third-quarter sales missed Wall Street estimates on Wednesday as rebates limited revenue from its top-selling diabetes drug Trulicity, and its shares fell about 4%.
Snap says DOJ, SEC drop probe on IPO disclosures
Snap Inc said on Wednesday that the U.S Department of Justice and the Securities and Exchange Commission were no longer investigating whether the company misled investors at the time of its March 2017 initial public offering.
