Dollar hits three-week high, gold sinks to year low
The U.S. dollar hit a three-week high on Wednesday against a basket of major currencies in the wake of an upbeat view of the economy by the U.S. Federal Reserve, while oil prices resumed a recent pullback and gold slumped to a year low.
Morgan Stanley boss Gorman hits out at Fed stress tests
Morgan Stanley’s top executive criticized the Federal Reserve’s annual health checks of the biggest U.S. lenders and predicted changes to the tests going forward after his bank reported better-than-expected quarterly earnings on Wednesday.
U.S. housing starts hit nine-month low; permits drop
U.S. homebuilding fell to a nine-month low in June and permits for future construction declined for a third straight month, dealing a blow to the housing market as it struggles with a dearth of properties available for sale.
British M&A regulator to review level of possible Disney offer for Sky
Britain’s takeover regulator said on Wednesday that it would review its ruling that Walt Disney might have to acquire UK broadcaster Sky for at least 14 pounds a share.
Exclusive: Saudi Aramco mulls stake in world’s number 4 chemical firm: sources
Saudi Arabia’s government is considering a plan under which Aramco would buy a stake in Saudi petrochemical maker SABIC , a move that could boost the state oil giant’s market valuation ahead of a planned initial public offering.
Sinclair reverses course on Tribune deal, hoping to win FCC nod
Sinclair Broadcast Group Inc said on Wednesday it will reverse course and not divest three television stations in hopes of winning approval of its $3.9 billion acquisition of Tribune Media Co after the Federal Communications Commission chairman said …
Rolls-Royce looks to robot snakes and beetles for engine upkeep
Engine maker Rolls-Royce is exploring the idea of using robots inspired by snakes and cockroaches to help it inspect and repair engines in the future, the company’s researchers said at the Farnborough Airshow.
Ryanair to cancel up to 600 flights next week in biggest strike
Ryanair said on Wednesday it would cancel more than 12 percent of its flights on July 25 and 26 due to a cabin crew strike, as its industrial relations crisis escalates.
Days of MRJ regional jet delays are over, manufacturer says
(This version of the July 18 story corrects aircraft in paragraph 10 to 787, not 737.)
Berkshire shares climb after Buffett is empowered to buy back more stock
Berkshire Hathaway Inc shares rose on Wednesday after its board gave its billionaire chairman, Warren Buffett, more freedom to conduct stock buybacks, which the conglomerate has not done since 2012.
