Oil rebounds from rout on signs of strong product demand
Oil prices rose on Wednesday, recovering somewhat from a sharp selloff during the previous session, after U.S. data showed strong demand for refined products.
Wall Street rises ahead of Fed interest rate decision
U.S. stocks climbed 0.7 percent on Wednesday, boosted by the technology sector, while banks rose ahead of a much anticipated Federal Reserve announcement that investors hope will point to a more moderate pace of interest rate hikes next year, which cou…
Facebook’s lead EU regulator ‘assessing’ NYT report on data sharing
Facebook’s lead regulator in the European Union on Wednesday said it was assessing a report in the New York Times that the social network allowed some tech companies far greater access to data than it had disclosed.
Fed expected to increase rates, may signal fewer hikes ahead
The U.S. Federal Reserve is expected to raise interest rates on Wednesday, but may cut the number of hikes it anticipates next year and signal an earlier end to its monetary tightening in the face of financial market volatility and rising recession fea…
General Mills second-quarter profit jumps on tighter costs, price hikes
General Mills Inc reported a quarterly profit above Wall Street estimates on Wednesday as the maker of Cheerios cereal raised prices and eked out higher margins from cost savings.
Daimler told regulators about coolant-related recall: kfz-betrieb
Daimler told European regulators late last month that it will have to recall 127,847 Mercedes vehicles to replace the R134a coolant, trade publication kfz-betrieb reported on Wednesday, not citing the source of its information.
Uber loses latest UK legal bid to block worker rights for drivers
Uber has lost its latest court bid to stop its British drivers being classified as workers, entitling them to rights such as the minimum wage, in a decision which jeopardizes the taxi app’s business model.
Travel agents seek EU antitrust probe into Lufthansa pricing
A group whose members include Amadeus and Expedia , stepped up their fight against German airline Lufthansa on Wednesday, urging EU regulators to investigate booking fees it levies on travel agents.
Volkswagen buys Volvo’s connected car unit for $122 million
Volkswagen (VW) is buying a controlling stake in Volvo’s WirelessCar, a digital service developer specializing in connected driving, for 1.1 billion Swedish crowns ($122 million), the companies said on Wednesday.
Buffett’s stake in Home Capital to dip to less than 10 percent
Canadian mortgage lender Home Capital Group Inc said on Wednesday that Warren Buffett’s stake in the company will drop to less than 10 percent after the completion of a share buyback.
