Angry shareholders slap down National Australia Bank’s executive pay plans
National Australia Bank shareholders delivered an unprecedented protest vote against the lender’s executive remuneration plans on Wednesday, the latest display of investor disquiet over poor governance in the country’s financial sector.
Oil drops over 5 percent on economic slowdown fears, supply glut
Oil prices tumbled more than 5 percent on Tuesday in heavy trade due to fears of oversupply and deteriorating demand, extending a selloff that has taken major crude benchmarks down more than 30 percent from an October peak.
Elon Musk’s Boring Company set to unveil its first Los Angeles-area tunnel
The Boring Company, Elon Musk’s underground transit venture, planned an unveiling of its first tunnel on Tuesday, two years after the billionaire entrepreneur complained about Los Angeles traffic and vowed to “just start digging” as a remedy.
FedEx sees global trade slowdown, says U.S. economy still ‘solid’
FedEx Corp on Tuesday slashed its 2019 forecast after Europe’s economy weakened and the U.S. trade row exacerbated a slowdown in China, sending shares in the package delivery company tumbling more than 6 percent after the closing bell.
SoftBank Corp shares slide 10 percent on debut after record Japan IPO
SoftBank Corp shares slumped more than 10 percent in their debut on Wednesday, as investor appetite for Japan’s biggest ever IPO was hurt by a recent major service outage and worries over its exposure to Chinese telecom gear maker Huawei.
Asia braces for Fed as plunge in oil boosts bonds
Asian share markets played second fiddle to bonds on Wednesday as a spectacular fall in the price of oil fanned speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the day.
High taxes could hasten bank moves from Britain after Brexit
Britain risks driving banks overseas if current high levels of taxation on the industry are maintained after Brexit, a bank lobby group said on Wednesday.
Sears to take $443 million in charges arising from store closures
Bankrupt U.S. retailer Sears Holdings Corp will take a charge of about $443 million arising from store closures, a regulatory filing showed on Tuesday.
Micron sales miss target as chip glut hurts prices
U.S. chipmaker Micron Technology Inc on Tuesday gave quarterly sales and profit forecasts well below Wall Street estimates, citing a market glut of memory chips as consumer and business demand for phones and computers is weakening.
FedEx cuts 2019 view on European softness, global trade cool-down
U.S. package delivery company FedEx Corp on Tuesday cut its 2019 forecast after Europe’s economy weakened and trade skirmishes exacerbated a slowdown in China, sending its shares tumbling 6 percent in after-hours trade.
