Wall Street opens flat as investors await Fed outlook
Wall Street’s main indexes were little changed at the open on Wednesday as investors cautiously waited for more clarity on the Federal Reserve’s monetary policy outlook for the year, while trade worries still lingered.
UBS sounds pessimistic note on 2019 as first quarter revenues fall
UBS is to cut an extra $300 million in costs in 2019 after investment banking revenues plunged in the first quarter, Switzerland’s biggest bank said, sounding a pessimistic note about full-year prospects.
Starbucks sets up $100 million fund to invest in food and retail startups
Starbucks Corp is investing $100 million in a newly created fund that will be managed by Tesla Inc investor Valor Equity Partners to promote companies developing new technologies and products for the food and retail industry.
Price hikes drive General Mills profit beat, forecast raise; shares jump
Cheerios cereal maker General Mills racked up higher-than-expected profit in the third quarter after it lifted prices to combat higher costs, spurring a rise in its full-year forecast and driving shares up 6 percent.
Longest stocks rally of the year stumbles ahead of Fed
World shares’ longest rally of the year looked set to stumble on Wednesday as investors took profits before a U.S. Federal Reserve’s policy decision, which is expected to offer clues to interest rate prospects for the coming year.
BMW delivers 2019 profit warning and plan to cut costs by 12 bln euros
BMW expects group pretax profit to fall by more than 10 percent this year, it said on Wednesday as it announced a sweeping 12 billion euro ($13.6 bln) savings and efficiency plan to help offset higher technology investment and currency costs.
Google fined $1.7 billion for search ad blocks in third EU sanction
Alphabet Inc unit Google was fined 1.49 billion euros ($1.7 billion) on Wednesday, its third large European Union antitrust penalty in two years marking the company’s decade-long regulatory battle in Europe.
Google says it is complying with EU antitrust orders
Google has made and will make a number of changes to address EU antitrust regulators’ concerns that it unfairly promoted its shopping service and hindered rivals of its Android smartphone operating system, a senior executive said on Wednesday.
EU’s Vestager says Google rivals more visible after changes
Europe’s antitrust chief Margrethe Vestager gave a cautious welcome on Wednesday to Google’s attempts to boost rivals and offer Android users a choice of browser and search apps in order to comply with her orders in two separate cases.
Indonesia crash revelations raise pressure on Ethiopia probe
The world’s biggest planemaker Boeing faced growing obstacles to returning its grounded 737 MAX fleet to the skies on Wednesday, while chilling details emerged of an Indonesian crash with similarities to the Ethiopian disaster.
