Euro, pound rise as U.K. PM May gets backing on Brexit deal
The euro and sterling gained on Wednesday as British Prime Minister Theresa May obtained backing from her cabinet on her Brexit deal, which she now has to convince parliament to approve.
Uber posts $1 billion loss in quarter as growth in bookings slows
Uber Technologies Inc said on Wednesday that growth in bookings for its ride-hailing and delivery services rose 6 percent in the latest quarter, the third quarter in a row that growth has remained in the single digits after double-digit growth for all…
Jury clears J&J of liability in California talc cancer case
A California jury on Wednesday cleared Johnson & Johnson of liability in a case involving a woman who alleged that the company’s talc-based products, including its baby powder, contain asbestos and caused her cancer, the company said.
S&P 500 down for fifth day as financials fall
Wall Street’s major stock indexes fell on Wednesday, with the S&P 500 dropping for the fifth session in a row, as financials were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the U.S. House of Representatives.
Ackman’s Pershing Square exits Mondelez in favor of other bets
Billionaire investor William Ackman has turned his back on snack maker Mondelez International and put the money into potentially more lucrative bets, including global coffee company Starbucks and hotel operator Hilton Worldwide Holdings.
Pfizer loses drug patent fight in UK top court, may face claims
Pfizer lost the final round in a lengthy patent battle in Britain on Wednesday after the country’s highest court ruled against it in a case involving its $5 billion-a-year pain drug Lyrica, exposing the company to possible financial claims.
Sterling pares losses after UK cabinet backs Brexit deal
Sterling scaled back its losses against the euro and dollar on Wednesday after Britain’s Prime Minister Theresa May said her cabinet backed her Brexit deal.
Levi Strauss is planning to go public: CNBC
Levi Strauss & Co, the 145-year-old company that made the first pair of blue jeans, is planning an initial public offering, CNBC reported https://cnb.cx/2zSjbDL on Wednesday, citing sources familiar with the matter.
S&P 500 down for fifth day as Apple, bank stocks fall
U.S. stocks fell on Wednesday, with the S&P 500 dropping for the fifth session in a row, as Apple Inc continued to lead a retreat in technology stocks and financials were hit by fears that sector-wide regulations would no longer be eased.
Exclusive: Saudi Arabia’s PIF eyes stake in U.S. movie studio Legendary – sources
Saudi Arabia’s sovereign wealth fund PIF is exploring the acquisition of up to a $700 million stake in Legendary Entertainment, the U.S. movie studio behind films such as “Jurassic World” and “Interstellar”, according to people familiar with the matter…
