U.S. tech funds turn to Visa, Paypal as FANGs fade
Some tech-heavy U.S. fund managers have turned to the once-stodgy payments sector as an alternative to so-called FANG stocks as high-flyers like Facebook Inc and Google parent Alphabet Inc falter.
Wall St. falls with chipmakers; housing data also a worry
U.S. stocks fell on Wednesday, with the S&P 500 on track for a sixth day of losses, as weak forecasts from chipmakers added to concerns over the impact on earnings from tariffs and China’s slowdown.
Airbus chief says A321 weighing on delivery delays
Airbus planemaking chief Guillaume Faury confirmed on Wednesday that new variants of the A321neo passenger jet had contributed to delivery delays at a plant in Hamburg, Germany, but said engineers were in the midst of resolving the problem.
Southeast Asia’s Grab inks prepaid card deal with Mastercard
Singapore-based Grab has partnered payments processor Mastercard Inc to issue prepaid cards tailored to Southeast Asian consumers, extending the use of Grab’s digital wallet and helping its unbanked users transact online.
U.S. consumer watchdog dilutes penalty against payday lender: sources
Mick Mulvaney, the head of the U.S. Consumer Financial Protection Bureau (CFPB) on Wednesday fined a payday lender $200,000 for wrongly hounding borrowers but the penalty fell short of the $3 million his predecessor was seeking, said three sources fami…
Odebrecht offered Mexico $18 million to resolve graft cases: document
Mexico this year rejected an offer by Brazilian construction firm Odebrecht SA [ODBES.UL] to pay $18 million and supply information related to graft cases, according to a document and a person with knowledge of the matter, the conglomerate’s latest att…
New York sues Exxon for misleading investors on climate change risk
New York’s attorney general sued Exxon Mobil Corp on Wednesday, alleging that the world’s largest oil company for years misled investors about the risks of climate change regulations on its business.
U.S. new home sales near two-year low as mortgages rates rise
Sales of new U.S. single-family homes fell to a near two-year low in September and data for the prior three months was revised lower, the latest indications that rising mortgage rates and higher prices were sapping demand for housing.
Tesla hits near bottom in Consumer Reports reliability survey
Tesla Inc’s high-end Model S sedan lost its “recommended” rating and the electric carmaker slid overall by six spots to almost the bottom in Consumer Reports magazine’s annual reliability survey.
Tesla may post profit with Model 3 surge, investors look for more
Chief Executive Elon Musk may post a long-promised profit when Tesla Inc reports third-quarter results later on Wednesday, as production of the Model 3 electric sedan takes off, but investors will want to know if such results are sustainable.
