Ford extends warranty on certain Focus, Fiesta models
Ford Motor Co said on Wednesday it is extending warranty on clutch and related hardware in certain of its Focus and Fiesta cars due to complaints related to the vehicles’ transmission from several customers.
Novartis says top R&D executives no longer at Avexis unit after test data manipulation
Novartis said on Wednesday the two top research & development executives at its Avexis unit were no longer at the company after some data from early testing of Avexis’s more than $2-million gene therapy Zolgensma was manipulated.
U.S. yield curve inversion highlights recession fears, Fed dilemma
When the U.S. Federal Reserve cut interest rates last month for the first time in more than a decade, it signaled that further reductions in borrowing costs might not be needed. Bond markets vehemently disagree.
China’s Tencent cautious after surge in quarterly profit
China’s Tencent Holdings , the world’s largest gaming company by revenue, warned on Wednesday of a difficult economic environment even as it reported a better-than-expected 35% jump in quarterly profit.
Macy’s not looking to raise prices if new tariffs imposed: CEO
Macy’s Inc Chief Executive Officer Jeff Gennette said on Wednesday that the department store chain would not raise prices on products if the Trump administration goes ahead with its latest 10% tariffs.
WeWork preps for IPO with growing revenues and widening losses
WeWork owner The We Company on Wednesday published detailed financial statements for the first time, showing it lost more than $900 million in the first half of 2019 while revenue doubled, as it steps up preparations for an initial public offering next…
Macy’s sinks as poor spring season hits profit
Macy’s Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted heavily to clear spring inventory, sending its shares down 17%.
Oil prices fall on weak global economic data
Oil prices fell on Wednesday on weak global economic data and a rise in U.S. crude inventories, almost erasing the previous session’s strong gains which followed the United States’ move to delay tariffs on some Chinese products.
U.S. import prices unexpectedly rise, but trend still weak
U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
Wall St. opens lower as recession signals grow
U.S. stocks fell at open on Wednesday, as a closely-watched bond market indicator pointed to a renewed risk of recession, undoing gains from the previous session due to a retreat by Washington on its latest tariffs on Chinese goods.
