Ferrari shares race ahead 15 percent on Wall Street debut
NEW YORK/MILAN (Reuters) – Ferrari shares jumped 15 percent to $60 on its Wall Street debut on Wednesday after the Italian supercar maker priced its share offering at the top of the range amid heavy investor demand.
Hedge fund mogul Ackman hit hard by huge Valeant bet
BOSTON (Reuters) – Hedge fund mogul William Ackman has become one of the biggest casualties of a meltdown in pharmaceutical firm Valeant, with losses on the position amounting to roughly $1.8 billion so far this year, including more than $800 million a…
Boeing says 777 output may fall as losses narrow on 787
(Reuters) – Boeing Co posted better-than-expected quarterly results and lifted its financial outlook on Wednesday, but signaled it may juggle plane production to keep profits flowing as one of its two main cash cows dries up.
EU rules Starbucks, Fiat tax deals illegal, rocking system
BRUSSELS (Reuters) – The European Commission ruled on Wednesday that Starbucks and Fiat benefited from illegal tax deals with the Dutch and Luxembourg authorities, dealing a heavy blow to profit-shielding arrangements used by many multinationals.
Credit Suisse to raise $6 billion as new CEO shows his hand
ZURICH (Reuters) – Credit Suisse plans to raise 6 billion Swiss francs ($6.3 billion) from investors, slim down its investment bank and cut jobs as new chief Tidjane Thiam embarks on the biggest overhaul of the Swiss bank in almost a decade.
Goldman adding data scientists, marketers in consumer lending push
(Reuters) – Goldman Sachs Group Inc is looking to hire engineers, data scientists, operations staff, and customer service professionals as it builds up its online lending business, according to people contacted by the bank and online job postings.
Ex-JPMorgan traders, citing arrest risk, avoid SEC deposition in N.Y
NEW YORK (Reuters) – Two former JPMorgan Chase & Co traders living abroad who face U.S. charges over the bank’s $6.2 billion “London Whale” scandal won a bid on Wednesday to avoid sitting for a deposition in New York, where their lawyers say their arrest is likely.
GM profit tops estimates on strong truck demand, improved China
DETROIT (Reuters) – General Motors Co reported record quarterly earnings for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues.
Oil down on crude build; gasoline draw helps pare some loss
NEW YORK (Reuters) – Oil prices hit three-week lows on Wednesday on worries over rising U.S. crude stockpiles, although a larger-than-expected drawdown in gasoline and distillates tempered the market’s bearish sentiment.
Coca-Cola warns of bigger hit on revenue from strong dollar
(Reuters) – Coca-Cola Co reported a bigger-than-expected drop in quarterly sales due to a strong dollar, and the company said it expected the currency to hurt its full-year revenue more than previously anticipated.
