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Oil rises on hopes OPEC will extend supply cuts

12 min ago

Oil rose above $59 a barrel on Wednesday, gaining support due to signs that OPEC and allied producers will make further curbs to oil supply in December, and as traders covered short positions ahead of an industry report on U.S. crude inventories.

GM, UAW reach tentative deal to end strike

13 min ago

General Motors Co and the United Auto Workers union have reached a tentative deal for a new four-year labor deal, moving the sides closer to ending the month-long strike by about 48,000 hourly workers that had drawn the attention of U.S. President Donald Trump and potential Democratic rivals in the 2020 presidential election.

Signify to buy U.S. firm Cooper Lighting for $1.4 billion

29 min ago

Signify , the Dutch-based lighting company, has agreed to buy U.S. firm Cooper Lighting Solutions from Eaton Corp. [EATO.UL] for $1.4 billion in cash to boost its presence in North America.

Swiss says Airbus A220 flights resuming as engines pass inspection

34 min ago

Airline Swiss expects to resume mostly normal service with its fleet of Airbus A220 jets on Thursday after temporarily grounding the jets for safety checks of their engines, it said on Wednesday.

Stocks little changed on data, earnings; pound choppy

39 min ago

A gauge of world stock markets was little changed on Wednesday on the heels of U.S. data that raised concerns about a slowing economy, while sterling was volatile as negotiations on a Brexit deal continued.

Corroded pipe led to Philadelphia refinery fire -U.S. Chemical Safety Board

55 min ago

An old, degraded piece of metal pipe that had not been tested for corrosion led to a June fire and explosions at the Philadelphia Energy Solutions oil refinery, the U.S. Chemical Safety and Hazard Investigation Board said in a report on Wednesday.

Bank of America beats profit estimates on surge in advisory, lending

1 hour ago

Bank of America Corp beat Wall Street estimates for quarterly profit on Wednesday as it earned more in advisory fees and its loan book expanded, easing concerns that lower interest rates would crimp growth at the second-largest U.S. bank.

As the beer flows, so does the economy, as consumers keep growth aloft

1 hour ago

If the global economy hits the skids, the warning may come from the hop-covered taproom of the Denver Beer Co, where yearly sales are up 17% and founder Charlie Berger says the new "Juicy Freak" India Pale Ale is a bestseller despite its $1-per-pint higher price tag.

Fallen fund star Woodford's firm suffers ignominious end

1 hour ago

Once one of Britain's most celebrated money managers and idolized by a legion of investor devotees, the collapse of Neil Woodford's business has been swift and brutal.

Wall Street on edge after Hong Kong protests bill

1 hour ago

Wall Street inched lower on Wednesday, as a congressional bill related to the Hong Kong protests stoked fears of more friction with China, even as another round of positive earnings reports underlined a solid start to third-quarter results.

Weak U.S. retail sales heighten fears over economy

1 hour ago

U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy, keeping the door open for the Federal Reserve to cut interest rates again later this month.

U.S. chipmaker Broadcom told to stop exclusivity deals till EU probe ends

1 hour ago

U.S. chipmaker Broadcom has been ordered to halt exclusivity deals with six TV and modem makers for up to three years while EU antitrust enforcers investigate whether these agreements are aimed at thwarting rivals.

Airbus has sold 10 A321neo jets to Chile's Sky Airline: sources

2 hours ago

Airbus has sold 10 A321neo aircraft to Chilean budget carrier Sky Airline, two industry sources said.

Turkey's Halkbank dismisses U.S. charges, Erdogan calls them 'ugly'

2 hours ago

Turkey's Halkbank said on Wednesday that U.S. charges against it amount to an escalation of Washington's sanctions on Ankara over its military incursion in Syria, while President Tayyip Erdogan called them an "unlawful, ugly" step.

Abbott Labs trims profit forecast after revenue miss

2 hours ago

Medical device maker Abbott Laboratories fell just short of Wall Street estimates for quarterly revenue on Wednesday and trimmed the upper end of its full-year earnings forecast.

Ride-hailing companies Uber, Lyft won't testify before Congress

2 hours ago

Uber Technologies Inc and Lyft Inc declined to appear on Wednesday at a U.S. House of Representatives hearing on issues relating to the ride-hailing industry, a congressional committee said.

Bayer expects significant surge in number of U.S. glyphosate cases

2 hours ago

Bayer expects the number of claims in the United States related to Roundup herbicide to have surged in the third quarter, as the German drugs and pesticides maker tries to reach a settlement after earlier court rulings against it.

Bulgaria ready to sweeten its bid to win Volkswagen plant: lobby group

3 hours ago

Bulgaria is ready to offer more incentives to Volkswagen to build a new plant in the country after the carmaker postponed a decision on building it in Turkey amid criticism of Ankara's offensive in Syria.

Undercover entrepreneurs: fearful Mexican tech startups shun spotlight

3 hours ago

In Mexico's burgeoning startup scene, publicity is the last thing many entrepreneurs want.

Huawei unveils new 5G antennae ahead of China ramp

3 hours ago

Huawei Technologies on Wednesday launched a new generation of 5G mobile antennae, anticipating an acceleration in the pace of network upgrades led by the three operators in its vast Chinese home market.