U.S. government contractors to get first look at Huawei ban today
The White House Office of Management and Budget is slated on Wednesday to release an interim rule for a ban on federal purchases of telecommunications equipment from five Chinese companies, including Huawei, a senior administration official said.
Trump says China is ‘killing us with unfair trade deals’
U.S. President Donald Trump on Wednesday said his tough stance on China’s economic and trade policies would ultimately benefit the American economy, even as Beijing signaled it could strike back by curbing sales of chemicals known as rare earths that a…
Oil slumps 5% to seven-month low on trade tensions, surprise U.S. stock build
Oil prices tumbled up to 5% on Wednesday to a fresh seven-month low, extending recent heavy losses following an unexpected build in U.S. crude stockpiles and fears of lower crude demand due to deepening U.S.-China trade tensions.
GM wins victory in ignition switch defect litigation
General Motors Co persuaded the federal judge who oversees nationwide litigation over defective ignition switches to narrow claims by owners who said their vehicles lost value because of the defect, which has been linked to 124 deaths.
Wall Street sinks as U.S. bond market stokes recessionary fears
U.S. stocks plunged on Wednesday, with the Dow Jones Industrial Average falling more than 450 points, as investors were spooked by the latest signals from the bond market that pointed to heightened risk of a recession.
Stock short-sellers reaped big gains on Aug. 5 selloff: S3 Partners
Short-sellers targeting U.S. stocks logged a one-day paper profit of $24.75 billion on the sell-off on Aug. 5, according to data from financial technology and analytics firm S3 Partners.
U.S. to release interim rule today for first part of Huawei ban for U.S. government contractors
The White House Office of Management and Budget is slated on Wednesday to release an interim rule for a ban on federal purchases of telecommunications equipment from five Chinese companies, including Huawei, a senior administration official said.
Tesla faced U.S. agency scrutiny last year over Model 3 safety claims
Electric carmaker Tesla Inc received a cease-and-desist letter last year from U.S. regulators for making “misleading statements” over safety ratings of its Model 3 sedans as well as two subpoenas related to crashes involving its cars, according to doc…
CVS Health raises 2019 profit forecast after beating profit estimates
CVS Health Corp raised its full-year profit forecast and reported higher-than-expected second-quarter results on Wednesday, as increased U.S. prescription drug prices fueled rebates to its pharmacy benefits business.
Wendy’s backs full-year profit target after narrow beat, shares rise
Wendy’s Co stuck to its full-year profit forecast on Wednesday after edging past analysts’ estimates for second quarter in the face of a handful of major marketing investments by some of its biggest rivals, sending its shares 7% higher.
