Fed jitters and oil pull Wall Street lower; Apple rallies
(Reuters) – Wall Street edged lower on Wednesday as investors stewed about future interest rate hikes and cheaper oil dragged down energy shares, although Apple surged to its highest level this year.
Ford says 2017 performance will fall from 2016 levels as costs rise
(Reuters) – Ford Motor Co’s 2017 financial performance will decline from this year as it increases spending on “emerging opportunities” like self-driving cars and other costs rise, the No. 2 U.S.-based automaker said on Wednesday.
Activist says Wells Fargo to face tough shareholder resolutions
BOSTON (Reuters) – An activist investor said on Wednesday it is “inevitable” that Wells Fargo & Co will face critical shareholder resolutions after the bank agreed to a $190 million settlement with regulators over fake consumer accounts.
Caesars directors must ‘pony up’ details of wealth: judge
CHICAGO (Reuters) – Billionaire investors Marc Rowan and David Bonderman are among Caesars Entertainment Corp directors who must disclose details of their wealth to creditors of the casino holding company’s bankrupt subsidiary, a U.S. judge said on We…
U.S. import prices post first drop in six months, but trend improving
WASHINGTON (Reuters) – U.S. import prices fell for the first time in six months in August on weak petroleum and food costs, but the declining trend is slowing as oil prices stabilize and the dollar’s rally fades.
Volkswagen says it might not resume U.S. sales of diesel vehicles
WASHINGTON (Reuters) – Volkswagen AG said on Wednesday it has not decided if it will resume selling diesel vehicles in the United States, even if it were allowed to, in the wake of the automaker’s emissions cheating scandal.
Ford sees ‘substantial headwinds’ from 2017 commodity costs
DETROIT (Reuters) – Ford Motor Co <F.N. Chief Financial Officer Bob Shanks said that the company sees “substantial headwinds” in 2017 on North American commodity costs.
Pimco says Bill Gross leaked bonus data, shows bad faith
(Reuters) – Pacific Investment Management Co accused former star bond fund manager Bill Gross of leaking confidential bonus data to an outside columnist, and exercising “bad faith” by withholding materials it is entitled to see as it defends against hi…
Automated trading could work against investors: SEC chief
WASHINGTON (Reuters) – The chair of the U.S. Securities and Exchange Commission on Wednesday raised concerns that automated trading could hurt some investors, and laid out the regulator’s approach to the fast-evolving practice of using algorithms and s…
U.S. public pensions turn to currency as returns sour
NEW YORK (Reuters) – U.S. public pension funds are embracing currency hedging to bolster returns that have soured in the past year and to prevent further buffeting from extreme market movements.
