Macy’s results beat forecasts on holiday sales lift
Department store chain Macy’s Inc on Tuesday reported a small drop in sales and profit that topped analysts’ expectations with the help of an uptick in holiday sales.
U.S. labor board limits companies’ liability for franchisee labor-law violations
A U.S. labor board on Tuesday finalized a rule that will make it more difficult to hold companies liable for unlawful labor practices by franchisees and contractors, reversing a more worker-friendly Obama-era standard criticized by business groups.
JPMorgan raises clean energy spending goals, profit targets unchanged
JPMorgan Chase & Co largely maintained its key profit goals for the medium term on Tuesday, signaling steady but slower growth, and raised its financial commitment for clean-energy initiatives after years of pressure from environmental activists.
Oil slips for 3rd day as virus fears outweigh supply cuts
Oil fell below $56 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.
For Wells Fargo and former executives, $3 billion-deal with U.S. may not be the end
Although Wells Fargo & Co settled major probes with federal agencies over abusive sales practices last week, the bank and its former executives are not out of the woods yet, legal and regulatory experts said.
Housing market strength underpins Home Depot’s holiday-quarter results
Home Depot Inc benefited from a solid U.S. housing market and higher job growth that led consumers to spend more at its stores in the holiday shopping quarter, helping the home improvement chain beat sales and profit estimates.
Mastercard CEO Ajay Banga to step down, insider Miebach tapped
Mastercard’s chief executive officer of 10 years, Ajay Banga, will step down at the start of the next year, the company said on Tuesday, and be replaced by Chief Product Officer Michael Miebach.
American Airlines, Qatar Airways sign strategic partnership, codeshare deal
American Airlines Group Inc said Tuesday it has signed a strategic partnership deal with Qatar Airways and is reviving its codeshare agreement.
Global stocks sink further as virus fears weigh
Global stocks sank to their lowest levels in over two months on Tuesday, as relief from a sharp selloff the previous day on fears about the spreading coronavirus proved temporary.
IEA says virus-hit oil growth outlook lowest in a decade, could go lower
The International Energy Agency’s (IEA) outlook on global oil demand growth has fallen to its lowest level in a decade, IEA Executive Director Fatih Birol said on Tuesday, adding it could be reduced further due to the impact of the coronavirus outbreak…
