Wall Street muted after Trump-Kim summit ends early, GDP data
Wall Street’s main indexes struggled for direction on Thursday as an abrupt end to a U.S.-North Korean summit and a clutch of weak earnings hit sentiment, with a better-than-feared GDP data offering some support.
J.C. Penney fourth-quarter results beat estimates, shares surge 31 percent
J. C. Penney Co Inc on Thursday reported quarterly results that topped estimates as the struggling retailer sold more jewelry and women’s, men’s and children’s apparel during the key holiday shopping season.
U.S. offers up to 6 million barrels of oil from emergency reserve
The U.S. Energy Department said on Thursday it is offering up to six million barrels of sweet crude oil from the national emergency reserve in a sale mandated by a previous law to raise funds to modernize the facility.
Kraft Heinz lawsuit targets 3G stock transfer, writedown, SEC probe
Kraft Heinz Co faces a new lawsuit questioning why controlling shareholder 3G Capital transferred $1.23 billion of stock six months before the processed foods company stunned investors with a huge writedown and other bad news.
Huawei units plead not guilty to U.S. trade secret theft
Huawei Device Co Ltd and Huawei Device USA Inc pleaded not guilty to U.S. fraud, trade secrets conspiracy and other charges, and a trial date was set for March 2020, the Justice Department said on Thursday.
Kia, Hyundai expand U.S. engine fire recalls by 534,000 vehicles
Kia Motors Corp and affiliate Hyundai Motor Co said on Thursday they are recalling around 534,000 additional U.S. vehicles at risk of engine fires.
FAA fines American Airlines, Delta for long tarmac delays
The Federal Aviation Administration said Thursday it had fined American Airlines $1 million and Delta Air Lines Inc $750,000 for violating federal rules prohibiting lengthy tarmac delays at U.S. airports.
Ex-Barclays CEO had to delegate responsibility during 2008 fundraising
John Varley, former CEO of Barclays, told investigators in 2014 he had had to delegate responsibility during the British bank’s efforts to raise more than 11 billion pounds ($15 billion) at the height of the credit crisis.
Wall St. dips after early end to Trump-Kim summit, bleak earnings
U.S. stocks slipped on Thursday as a U.S.-North Korea summit ended abruptly without an agreement, with a clutch of weak earnings adding to the downbeat sentiment.
U.S. embassy in Sweden asks financial watchdog for meeting on Swedbank
The U.S. embassy in Sweden has asked the domestic watchdog FI for a meeting to discuss allegations of Swedbank’s involvement in a Baltic money-laundering scandal, raising concerns that U.S. authorities might be mulling a probe of the Nordic bank.
