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Updated: 1 hour 7 min ago

Saudi, Gulf stocks fall after attack on Aramco oil plants

Sun, 09/15/2019 - 09:21
Saudi stocks plunged 2.3% as the market opened on Sunday, after attacks on two plants at the heart of the kingdom's oil industry a day earlier knocked out more than half of Saudi crude output.
Categories: Financial Media

Factbox: U.S. readies emergency oil reserves in wake of Saudi attacks

Sun, 09/15/2019 - 02:20
The Trump administration said on Saturday it stood ready to tap U.S. emergency oil reserves if needed after attacks in Saudi Arabia shut more than half the crude output in the world's largest oil exporter.
Categories: Financial Media

UAW says no GM contract extension, union leaders to meet Sunday

Sun, 09/15/2019 - 01:29
The United Auto Workers (UAW) said late on Saturday it would not extend its contract with General Motors Co and would decide on a course of action at a meeting of union leaders in Detroit Sunday morning that could result in talks resuming or possibly workers going out on strike.
Categories: Financial Media

UAW will not extend GM contract, but no decision on strike

Sun, 09/15/2019 - 00:49
The United Auto Workers said late on Saturday that it will not extend its contract with General Motors Co that was set to expire in hours, but would continue to work pending a meeting of senior union officials.
Categories: Financial Media

Attacks on Saudi facilities threaten spare oil capacity, price hikes

Sat, 09/14/2019 - 23:30
Saturday's attacks on key Saudi Arabia processing plants will test the world's ability to handle a supply crisis as it faces the temporary loss of more than 5% of global supply from the world's biggest crude exporter.
Categories: Financial Media

Global spare oil capacity in U.S. hands after Saudi outage

Sat, 09/14/2019 - 22:09
An attack on Saudi oil facilities on Saturday is believed to have disrupted half the country's production capacity, making the United States the only real holder of the global supply cushion via its ability to raise own output or to soften sanctions against other major oil producers.
Categories: Financial Media

Companies ask judge in U.S. opioid trial to recuse himself

Sat, 09/14/2019 - 21:53
Major drug wholesalers and retailers facing a massive lawsuit for allegedly fostering the nation's opioid crisis asked the judge hearing the case to recuse himself on Saturday.
Categories: Financial Media

BMW engine development expert Duesmann set to become Audi chief in April: report

Sat, 09/14/2019 - 21:25
BMW's engine development and purchasing expert, Markus Duesmann, is set to become the CEO of Volkswagen's Audi premium brand, after BMW dropped its opposition to his early departure, a German newspaper reported on Saturday.
Categories: Financial Media

House panel wants Boeing CEO to allow employee interviews on 737 MAX crashes

Sat, 09/14/2019 - 12:45
(In September 12 story, corrects name of European Union Aviation Safety Agency from European Aviation and Space Agency in paragraph 10)
Categories: Financial Media

Overshadowed by U.S. corruption probe, UAW, GM near contract deadline

Sat, 09/14/2019 - 12:15
Overshadowed by a mushrooming U.S. federal corruption probe into top union officials that has created uncertainty for collective bargaining talks, the contract between the United Auto Workers (UAW) and General Motors Co will expire at midnight on Saturday.
Categories: Financial Media

Apple has sour reaction to Goldman Sachs' analyst note

Sat, 09/14/2019 - 01:14
Apple Inc struck out at a Goldman Sachs Group Inc analyst on Friday in a relatively rare public dust-up between a blue chip Wall Street firm and its client.
Categories: Financial Media

Disney CEO Bob Iger resigns from Apple board as TV battle looms

Sat, 09/14/2019 - 00:14
Apple Inc said on Friday that Walt Disney Co Chief Executive Officer Bob Iger had resigned from the company's board of directors on Sept. 10 as the two companies prepare to compete head-to-head in the streaming television business.
Categories: Financial Media

Citigroup stands by card strategy despite economic clouds

Fri, 09/13/2019 - 21:48
Some Wall Street analysts have begun to question whether Citigroup Inc's big bet on credit cards will backfire if the U.S. economy enters a recession, despite the bank saying it is underwriting responsibly.
Categories: Financial Media

S&P edges lower as Apple weighs, trade tensions ease

Fri, 09/13/2019 - 21:46
The S&P 500 ended the day down slightly on Friday but less than 1% below its all-time high as a drop in Apple stock countered cooling U.S.-China trade tensions.
Categories: Financial Media

Global stocks, bond yields lifted by U.S.-China trade hopes

Fri, 09/13/2019 - 21:19
A gauge of global stocks rose for an eighth straight day and benchmark government bond yields climbed on Friday after signs of progress in U.S.-China trade talks, as well as a solid U.S. retail sales report, allayed recession worries.
Categories: Financial Media

Apple counters Goldman call on 'negative impact' of Apple TV+ trial

Fri, 09/13/2019 - 20:12
Apple Inc on Friday disputed a Goldman Sachs research note which stated that the company's plans to account for the trial of its new streaming service Apple TV+ will have a "material negative impact" on its results.
Categories: Financial Media

Exclusive: WeWork considers dramatic valuation cut in IPO

Fri, 09/13/2019 - 18:49
WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January, people familiar with the matter said on Friday.
Categories: Financial Media

UPS to pay $8.4 million to resolve U.S. overcharging probe

Fri, 09/13/2019 - 18:45
United Parcel Service Inc has agreed to pay the United States $8.4 million to resolve allegations it overcharged federal agencies for package delivery services, the U.S. Justice Department said on Friday.
Categories: Financial Media

PG&E settles wildfire claims with insurers for $11 billion

Fri, 09/13/2019 - 18:44
PG&E Corp said on Friday it has reached an $11 billion settlement to resolve most claims by insurance carriers related to 2017 and 2018 wildfires in California.
Categories: Financial Media

Apple, Broadcom keep Wall Street gains in check

Fri, 09/13/2019 - 18:29
Losses in shares of U.S. technology majors Apple and Broadcom held the S&P 500 just under record levels on Friday, as traders balanced the latest indicators of an uncertain global growth outlook with perceived progress in Sino-U.S. trade relations.
Categories: Financial Media