FDIC chair says no concerns about U.S. bank health amid market turmoil
A top U.S. bank regulator said on Thursday she had no concerns that volatility in the equities and futures markets posed a threat to the banking system, telling Reuters the country’s lenders have plenty of capital to weather further market swings.
Reuss, 35-year GM veteran, to succeed Ammann as president
General Motors Co said on Thursday that Mark Reuss would succeed Dan Ammann as president, effective immediately, as part of the automaker’s ongoing shift to electric and self-driving vehicles in North America and China.
Wall Street sinks as Apple warning and factory data hint at slowdown
Wall Street was pummeled on Thursday after a revenue warning from Apple Inc and slowing U.S. factory activity stoked fears of a global economic slowdown.
Apple plunge deepens Warren Buffett’s book value woes
The plunge in Apple Inc’s share price will likely cause new pain for Warren Buffett’s Berkshire Hathaway Inc, after the conglomerate suffered a big quarterly decline in its net worth that will hit its bottom line.
Cost to insure Bristol-Myers debt jumps as leverage balloons
The cost to insure Bristol-Myers Squibb debt hit its highest point since May 2010 on Thursday, following the announcement that the U.S. pharmaceutical company would acquire rival Celgene Corp in a deal worth about $74 billion.
UAW sues GM over temporary workers, escalating fight over job cuts
The United Auto Workers said on Thursday it was suing General Motors Co over labor contract violations stemming from its alleged use of temporary workers at an Indiana assembly plant, escalating the union’s fight against GM’s plans to possibly close U….
Oil near flat, prices swing as demand worry vies with OPEC supply cuts
Oil prices were near flat on Thursday in a session of volatile trade, pressured by concerns that slowing global economic growth could dent demand but drawing support from signs that Saudi Arabia is cutting crude output.
U.S. factory activity hits two-year low, casts shadow over economy
U.S. manufacturing activity slowed sharply to a two-year low in December amid a plunge in new orders and hiring at factories, suggesting the economy was probably not immune to slowing growth in China and Europe.
Apple’s shock warning sends investors to safe-haven assets
A revenue warning from Apple Inc rocked equity markets around the globe on Thursday as concerns over the damaging China-U.S. trade battle and its impact on world economic growth boosted assets considered safer investments, such as bonds and the Japane…
Wall Street tumbles on weak factory data, Apple warning
U.S. stocks fell about 2 percent on Thursday as a key gauge of factory activity suffered its biggest drop in a decade, rattling investors already spooked by a rare profit warning from Apple Inc .
