Wall Street retreats after surge; Caterpillar, financials fall
NEW YORK (Reuters) – U.S. stocks retreated on Thursday, led by financial stocks, while Caterpillar shares dropped following news that federal officials searched its Illinois facilities.
Boeing sues Denmark over lack of access to documents in combat jet dispute
COPENHAGEN (Reuters) – Boeing is taking Denmark to court over a lack of access to documents used in the government’s decision last year to buy Lockheed Martin’s new F-35 Lightning II combat jets in preference to Boeing’s F/A 18 Super Hornets.
U.S. Senators draft bill to boost employee private stock ownership
WASHINGTON (Reuters) – A bipartisan pair of lawmakers on the U.S. Senate Banking Committee are planning to introduce a bill that aims to entice private corporations to give their employees larger equity stakes in their companies and promote longer-term…
Deutsche Telekom core profit growth to halve as U.S. motor slows
BONN, Germany (Reuters) – Deutsche Telekom forecast its core profit growth would halve this year as earnings engine T-Mobile US slows, strengthening the case for a U.S. mobile merger that Deutsche Telekom has long desired.
Credit Suisse sees more lending to the world’s wealthy
ZURICH (Reuters) – Credit Suisse expects higher lending to the world’s wealthiest individuals will help its big bet on wealth management pay off.
Continental CEO eyes new business from Opel-Peugeot deal
BERLIN (Reuters) – Continental expects a possible tie-up between PSA Peugeot Citroen and General Motors’ Opel division would boost its business, its chief executive said.
China says supports WTO after U.S. trade threat
BEIJING (Reuters) – China supports the work of the World Trade Organization (WTO), the country’s foreign ministry said on Thursday, after U.S. President Donald Trump’s administration said it might defy WTO rulings it viewed as interfering with U.S. sov…
AB InBev suffers first core profit decline on Brazil slump
LEUVEN, Belgium (Reuters) – Anheuser-Busch InBev, the world’s largest brewer, suffered its first decline in core earnings since its formation over a decade ago as recession-hit Brazil depressed beer sales by even more than expected.
Snap’s shares pop after year’s biggest IPO
NEW YORK (Reuters) – Snap Inc’s shares ended up 44 percent on their first day of trading as investors flocked to buy into the hottest technology stock offering in three years, overcoming doubts about the loss-making messaging app company’s slowing use…
American Express escalates high-fee card competition
NEW YORK (Reuters) – American Express Co will begin to offer this month $200 a year in Uber rides, plus other new perks, on its Platinum charge cards as it fights to protect its high-end market from JPMorgan Chase & Co and Citigroup Inc.
