BofA commodity arm fined by DOJ for trading practices
Bank of America Corp’s commodity arm Merrill Lynch Commodities Inc has agreed to pay $25 million to resolve a probe into its trading practices, the...
MSCI upgrades Kuwait equities to its main emerging markets index
MSCI Inc upgraded Kuwaiti equities to its main emerging markets index on Tuesday, which could trigger $2.8 billion of inflows from passive funds....
Fed pushes back on aggressive U.S. rate cut views
Federal Reserve officials on Tuesday pushed back on market expectations and presidential pressure for the central bank to deliver a significant U.S. interest rate cut...
FedEx warns 2020 results to be hurt by trade war, shares fall 2%
Package delivery company FedEx Corp beat Wall Street estimates for quarterly profit on Tuesday, but warned its fiscal 2020 performance would be hurt by trade...
Wall Street sinks as hopes fade for rate cuts, trade progress
Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers...
Disney poaches Netflix film-making chief for streaming service: Deadline
Walt Disney Co has hired the head of Netflix Inc’s original film division, Matt Brodlie, for its streaming service Disney+, according to a report by...
U.S. launches criminal probe into alleged chicken price fixing by Tyson, rivals
The U.S. Department of Justice has begun a criminal probe into allegations that Tyson Foods Inc and other poultry processors including Pilgrim’s Pride Corp and...
Wall Street drops amid tech selloff, trade concerns
Wall Street fell on Tuesday, led by a selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines,...
Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi
Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan’s Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash,...
Powell says Fed insulated from politics, wrestling with rate cuts
Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is “insulated from short-term political pressures,” and that its policymakers are wrestling with...