Blue Apron warns on revenue growth, shares tumble
Blue Apron Holdings Inc on Wednesday said it plans to cut marketing spending, sacrificing possible revenue growth to focus on promoting its meal-kit delivery service to its highest-paying, most profitable customers.
Euro, pound rise as trader eye Brexit, Italy
The euro and sterling rose on Wednesday as traders monitor the latest developments between the European Union and Britain on the latter’s departure from the economic bloc, and the EU and Italy on the resubmission of the latter’s 2019 budget.
Wall Street reverses gains as Apple pulls tech stocks lower
U.S. stocks turned lower on Wednesday as Apple Inc led a decline in technology stocks, offsetting early support from tame U.S. consumer prices data and a rebound in oil prices.
Oil rebounds from steep selloff as OPEC, partners discuss supply cut
Oil rose nearly 2 percent on Wednesday, recouping some of the previous session’s heavy selloff, on growing prospects that the Organization of the Petroleum Exporting Countries and allied producers would cut output at a meeting next month to prop up pri…
Victoria’s Secret CEO to step down: WSJ
Victoria’s Secret Lingerie Chief Executive Officer Jan Singer is leaving the company a little over two years after she took the job, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
PG&E’s wildfire risks mount; shares and bonds plunge
PG&E Corp, the electricity provider in the Northern California region being ravaged by the deadly Camp Fire, warned that it could face “significant liability” in excess of its insurance coverage in the event that its equipment is found to have caused the blaze.
U.S. consumer inflation rises; oil prices may slow momentum
U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again next month.
Macy’s raises profit forecast before key holiday season
Macy’s Inc raised its annual earnings forecast on Wednesday, signaling a strong holiday shopping season ahead, encouraged by good performance at its stores and its growing online business.
Wall Street gives up early gains as Apple weighs
U.S. stocks turned lower on Wednesday as early support from tame consumer prices data and a rebound in oil prices faded, with Apple Inc leading a decline in technology stocks.
Oil rebounds after long plunge, dollar weaker after inflation data
Oil prices rebounded on Wednesday on hopes for output cuts after a steep drop a day earlier, while the dollar held losses against a basket of currencies following data showing U.S. inflation increased at a rate in line with expectations.
