U.S. existing home sales rise, trend weak
U.S. home sales unexpectedly rose in November, but recorded their biggest annual decline in 7-1/2 years as the housing market remained mired in weakness amid higher mortgage rates which have made home purchases more expensive.
Stocks and oil edge higher as investors eye Fed meeting
Global equity markets edged higher on Wednesday after a three-day sell-off which had investors seeking safety in bonds due to mounting pessimism over world economic growth.
Wall Street rises ahead of Fed rate decision
U.S. stocks climbed on Wednesday, boosted by technology stocks, and financials also gained ahead of a highly awaited Federal Reserve announcement where investors will watch for signals of fewer rate hikes, which could spark a year-end rally.
Chinese bike-sharing startup Ofo considering bankruptcy: Financial Times
Chinese bike-sharing startup Ofo, backed by Alibaba Group Holding Ltd , has “immense” cash flow problems and has considered applying for bankruptcy, the Financial Times reported on Wednesday.
Facebook says companies got access to data only after user permission
Facebook Inc said it did not give companies access to personal data of users without their permission, after the New York Times reported on Tuesday that the social network allowed some tech giants far greater access to data than it had disclosed.
Morgan Stanley moves to speed up collaboration with tech startups
Morgan Stanley is simplifying the way it acquires new technologies from small companies to speed up collaboration and address long running concerns by startups that working with big banks is slow and costly.
Travel agents seek EU antitrust probe into Lufthansa surcharges
A travel lobby group, whose members include Amadeus and booking.com, on Wednesday urged EU antitrust regulators to investigate Lufthansa’s surcharges and other allegedly discriminatory measures against travel agents.
Wall Street opens flat; Fed in focus
U.S. stocks opened flat on Wednesday, ahead of a highly awaited Federal Reserve announcement where the central bank is expected to signal fewer rate hikes given the turmoil in financial markets and rising fears of a recession.
MetLife settles Massachusetts case over unpaid pensions
MetLife Inc will pay a $1 million fine to resolve claims that it made misleading statements to investors in failing to pay pension benefits to thousands of retirees it improperly treated as “presumed dead.”
Chip gear makers take a beating after Micron’s dour forecast
Shares of chip gear makers fell after a tepid forecast by U.S.-based Micron Technology Inc exacerbated fears that a two-year chip boom was fizzling due to sluggish demand from makers of smartphones, PCs and servers.
