Markets register a shock, but is Trump right to blame the Fed?
It takes a lot to kill an economic expansion, typically requiring a major shock to bring growth to a halt and trigger a U.S. recession.
U.S. curve inverts for first time in 12 years; 30-year yield tumbles
The U.S. Treasury yield curve temporarily inverted on Wednesday for the first time since June 2007 in a sign of investor concern that the world’s biggest economy could be heading for recession.
Fidelity Investments wins court battle with IRS over coal tax credits
Fidelity Investments on Wednesday won its court battle with the U.S. Internal Revenue Service over tax credits for the production of chemically treated coal.
Novartis replaces top scientists at Avexis after drug data manipulated
Novartis AG said on Wednesday it replaced the two top research and development executives at its Avexis unit after some data was manipulated from early testing of a gene therapy for infants that costs more than $2 million.
Oil drops 3% on weak global economic data, U.S. crude stocks build
Oil prices shed 3% on Wednesday after fresh Chinese and European economic revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.
GE secures four-year labor deal with unions for 6,600 workers
General Electric Co has clinched a labor deal with all 6,600 of its unionized workers in the United States, averting potential strikes that could have hit the ailing conglomerate’s jet engine production, the company and unions said on Wednesday.
Stocks, oil plunge on growing signs of global slowdown
Equity markets tanked and oil prices fell sharply on Wednesday after a closely watched bond indicator pointed to the growing risk of a U.S. recession that was heightened by data showing Germany’s economy in contraction and China’s worsening.
U.S. stocks stumble on fears of looming recession
Wall Street stumbled on Wednesday as investors fled equities for safe-haven assets, seeking shelter amid gathering signs that a recession could be on the horizon.
Osram and AMS say takeover talks are constructive
Osram and AMS said on Wednesday that talks about a takeover of the German lighting group by the Austrian sensor maker were progressing.
Sierra Nevada chooses ULA’s Vulcan to launch space station supply runs
Sierra Nevada Corp, a privately owned defense contractor with spaceflight ambitions, said on Wednesday it picked United Launch Alliance’s Vulcan rocket to launch its Dream Chaser space plane on cargo missions to the International Space Station.
