Wall St. resumes selloff; S&P 500 lowest since September
(Reuters) – U.S. stocks sank on Wednesday, pushing the S&P 500 to close below 1,900 for the first time since September as investors grew anxious about weak energy prices, U.S. corporate earnings and the global economy.
Orbital ATK, SpaceX get U.S. contracts for rocket engine prototypes
WASHINGTON (Reuters) – The U.S. Air Force has awarded contracts to Orbital ATK Inc and privately-held Space Exploration Technologies (SpaceX) to develop prototypes of new U.S.-built rocket engines under a broader effort aimed at ending reliance on Russ…
Exclusive: Some Ambac shareholders call on CEO to quit, cite delays in paying claims – sources
NEW YORK (Reuters) – Three of Ambac Financial Group Inc’s top ten shareholders are calling on its new CEO Nader Tavakoli to step down, according to people familiar with the matter. One of the reasons they give is that he is slow to settle $4 billion in…
Slowing auto market puts GM and Ford to the test
DETROIT (Reuters) – A looming slowdown in global auto demand will test U.S. automakers General Motors Co and Ford Motor Co as they try to funnel more cash to shareholders while still investing adequately in new vehicles and technology.
U.S. says talks will continue to reach VW diesel emissions fix
WASHINGTON (Reuters) – U.S. environmental officials said on Wednesday talks will continue with Volkswagen aimed at reaching an agreement on a fix for nearly 600,000 diesel vehicles that emit up to 40 times legally allowable limits.
GE moving headquarters to Boston for tech talent, tax cut
NEW YORK (Reuters) – General Electric Co said on Wednesday it will move its global headquarters to Boston, tapping the city’s technology talent and likely lowering its tax bill as the industrial conglomerate seeks to lift profit and emphasize digital c…
Chipotle ‘confident’ it can stop outbreaks, shares rise
LOS ANGELES/SAN FRANCISCO (Reuters) – Chipotle Mexican Grill Inc executives on Wednesday said they are confident that steps they are taking to tighten food safety at the popular burrito chain will prevent future food poisoning outbreaks.
Brent hits near 12-year low as market wrestles with weak demand
NEW YORK (Reuters) – Brent crude ended 2 percent lower on Wednesday after falling below $30 a barrel for the first time since April 2004 as a growing stocks of oil in the United States stoked market fears about demand.
Goldman Sachs throws support behind IEX exchange application
NEW YORK (Reuters) – Investment bank Goldman Sachs Group has thrown its support behind upstart trading venue IEX Group’s bid to become a U.S. stock exchange, asking regulators to use the opportunity to address broader issues related to how the market i…
Controversial ‘pay-for-delay’ deals drop after FTC’s win in top court
WASHINGTON (Reuters) – Branded drug companies hammered out far fewer deals with generic drug makers to delay sales of cheaper medicines in the year after the Supreme Court ruled the Federal Trade Commission could legally pursue such agreements as poten…
