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Updated: 43 min 32 sec ago

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

Fri, 09/13/2019 - 00:30
Congress on Thursday asked Boeing Co's chief executive to make several employees available for interviews as part of a congressional probe into the design, development and certification of 737 MAX aircraft involved in two crashes that killed 346 people.
Categories: Financial Media

U.S. corruption probe involving lavish parties, champagne hits another top UAW official

Fri, 09/13/2019 - 00:29
Just two days before the UAW's contracts with Detroit automakers were due to expire, U.S. prosecutors arrested and charged a senior union official on Thursday with embezzlement, releasing a complaint that alleges he spent member dues on lavish parties for union leaders, with liquor, cigars and women to light them.
Categories: Financial Media

Philippine fast food specialist Jollibee hungry to expand in U.S., China

Fri, 09/13/2019 - 00:21
Jollibee Foods Corp , the Philippine fast food specialist known for fried 'Chickenjoy' and chopped hotdogs in sweet spaghetti sauce, is doubling down on expansion plans in the United States and China that are likely to include more M&A.
Categories: Financial Media

Factbox: Highlights from criminal complaint in widening UAW corruption probe

Thu, 09/12/2019 - 23:59
A senior United Auto Workers (UAW) official was arrested on Thursday and charged with conspiring with other union leaders to embezzle hundreds of thousands of dollars in a mushrooming corruption scandal.
Categories: Financial Media

Mexico's Pemex places $7.5 billion of bonds in record refinancing operation

Thu, 09/12/2019 - 23:51
Mexican state oil company Pemex said on Thursday it had placed $7.5 billion worth of bonds with maturities of seven, 10 and 30 years that will be used for debt refinancing.
Categories: Financial Media

Mnuchin says 100-year Treasury bond possible

Thu, 09/12/2019 - 23:50
U.S. Treasury Secretary Steven Mnuchin on Thursday said the United States will issue 50-year bonds if there is "proper demand," a moved aimed at "derisking" the government's $22 trillion of debt and locking in low interest rates.
Categories: Financial Media

Broadcom says chip demand has hit bottom, but uncertain on recovery timing

Thu, 09/12/2019 - 23:38
Broadcom Inc said on Thursday demand for microchips had hit a bottom and would remain at current levels, a sign that an industry downturn may linger, and added that there was no clear indication as to when the recovery would take place.
Categories: Financial Media

Consumer groups, unions urge caution on $63 billion AbbVie deal for Allergan

Thu, 09/12/2019 - 23:24
About a dozen advocacy groups and unions, including Public Citizen and the American Federation of Teachers, wrote the Federal Trade Commission on Thursday urging it to consider blocking drugmaker AbbVie Inc's planned $63 billion purchase of Botox maker Allergan Plc .
Categories: Financial Media

Trump: would consider interim trade deal with China

Thu, 09/12/2019 - 23:02
U.S. President Donald Trump told reporters on Thursday he would consider an interim trade deal with China - a step he said he has seen discussed by analysts - but said he would rather reach a larger agreement on the issues.
Categories: Financial Media

Time for Pemex to step up to fend off downgrade, deputy finance minister says

Thu, 09/12/2019 - 22:32
After a $5 billion government lifeline to pay off debt, Mexico's struggling state oil company Pemex must now do its part to fend off a threatened credit downgrade by keeping promises to increase production and lowering costs, a top official said.
Categories: Financial Media

Wall Street ends higher on trade, ECB stimulus hopes

Thu, 09/12/2019 - 22:02
Wall Street advanced on Thursday, and the S&P 500 ended the session within striking distance of its all-time closing high, buoyed by positive developments on the U.S.-China trade front and a promise of continued stimulus from the European Central Bank.
Categories: Financial Media

Climate change pushes U.S. fund managers to bet on AC makers

Thu, 09/12/2019 - 21:57
Record heatwaves in Europe and Asia this summer are leading fund managers to buy shares of air conditioning manufacturers, betting that the public health risks of rising temperatures will compel businesses and apartment building owners to install cooling systems.
Categories: Financial Media

WeWork considering curbing Neumann's voting power to save IPO: FT

Thu, 09/12/2019 - 21:53
WeWork owner The We Company's executives, investors and advisers are discussing curbing the voting power of founder Adam Neumann and removing his wife from a role in succession planning, the Financial Times reported on Thursday, citing sources familiar with the matter.
Categories: Financial Media

Broadcom misses quarterly revenue estimates, maintains full-year forecast

Thu, 09/12/2019 - 21:41
Broadcom Inc narrowly missed Wall Street estimates for quarterly revenue on Thursday and maintained its full-year forecast, as it faces a slowdown in chip demand and macroeconomic uncertainty due to the ongoing U.S.-China trade war.
Categories: Financial Media

Deutsche Bank is first to settle bond-rigging lawsuit, amid federal probe

Thu, 09/12/2019 - 21:32
Deutsche Bank AG will pay $15 million to resolve claims it conspired to rig prices of bonds issued by Fannie Mae and Freddie Mac , becoming the first of 16 financial services companies to settle litigation by investors.
Categories: Financial Media

Trade hopes lifts stocks, bond yields

Thu, 09/12/2019 - 21:22
A gauge of global stock markets rose for a seventh straight day in choppy trading on Thursday after hints of progress in the U.S.-China trade dispute, pushing bond yields off lows hit earlier on the heels of new stimulus measures put forth by the European Central Bank.
Categories: Financial Media

Exclusive: Two JPMorgan metals executives put on leave amid U.S. probe - source

Thu, 09/12/2019 - 21:20
Two JPMorgan Chase & Co employees, including a top metals trading executive, have been placed on leave in response to a U.S. criminal investigation into the bank’s metals trading practices, according to a source familiar with the matter.
Categories: Financial Media

Mexico's Pemex offers to prepay chunk of $14.7 billion in bonds

Thu, 09/12/2019 - 21:10
Mexico's Pemex said on Thursday it had launched a tender offer to prepay around a third of $14.7 billion in bonds maturing between 2020-2023, in President Andres Manuel Lopez Obrador's latest effort to shore up the state oil firm.
Categories: Financial Media

'Not enough:' Investors react to Pemex bond plan

Thu, 09/12/2019 - 21:10
Mexico's national oil company Pemex will need more than the $5 billion cash capital contribution from the government announced on Wednesday to turn around its fate, investors said, although there was interest in the plan's lengthening of debt maturities.
Categories: Financial Media

Washington, Beijing lay ground for trade deal talks; China buys U.S. soybeans

Thu, 09/12/2019 - 20:47
The United States on Thursday welcomed China's renewed purchases of U.S. farm goods while maintaining the threat of U.S. tariff hikes as the world's two largest economies prepared the ground for talks aimed at breaking the logjam in their trade war.
Categories: Financial Media

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