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02h08 Tesla Inc on Wednesday reported
its fifth consecutive quarterly profit on record revenue of $8.8
billion, boosted by an uptick in vehicle deliveries and sales of
environmental regulatory credits to other automakers.. . .
01h57 Soon after a Purdue Pharma LP affiliate
pleaded guilty to misbranding its addictive opioid painkiller
OxyContin in 2007, the company's Sackler family owners fretted
about possible threats to their wealth.. . .
01h51 Apollo Global Management Inc said
on Wednesday it would launch an independent review of Chief
Executive Leon Black's ties with late financier and convicted
sex offender Jeffrey Epstein, as some of the private equity
firm's. . .
01h40 The stronger-than-expected U.S. economic
rebound from coronavirus lows could set up an early test for the
Federal Reserve's new pledge to keep interest rates near zero
and its increased tolerance for inflation.. . .
01h24 CarLotz Inc, a U.S. consignment
store for used vehicles, is nearing a deal to go public through
a merger with blank-check acquisition company Acamar Partners
Acquisition Corp at a valuation of close to $830
million,. . .
01h24 Elliott Management Corp, one the world's
busiest activist investors, plans to open two new offices - one
in Florida and one in Connecticut - to give staff more
flexibility when the threat of COVID-19. . .
00h19 U.S. pipeline operator Kinder Morgan Inc
reported a 10% drop in quarterly profit on Wednesday as
a steep fall in energy demand due to the coronavirus crisis led
to lower shipments of refined products. . .
00h13 Whirlpool Corp on Wednesday
forecast a smaller drop in sales for the year and reinstated
earnings targets after posting better-than-expected quarterly
profit, as robust demand for home appliances helped it navigate
the coronavirus crisis.. . .
21/10 St. Louis Federal Reserve Bank President
James Bullard on Wednesday repeated his view that U.S.
businesses are largely adapting to life amid COVID-19 and the
U.S. economy is on track to better-than-trend growth even
without. . .
21/10 Moelis & Co has hired technology investor
Elan Zivotofsky as a managing director to provide financing and
transaction advice to Israeli-based companies, the investment
bank told staff on Wednesday in an internal memo seen. . .
21/10 Wall Street's three major averages closed
lower on Wednesday after a volatile trading session, as
investors worried whether difficult negotiations in Washington
would produce a deal for a fresh U.S. coronavirus stimulus
package.. . .
21/10 U.S. pipeline operator Kinder Morgan Inc
reported a 10% drop in quarterly profit on Wednesday as
a steep drop in natural gas prices due to the COVID-19 pandemic
hurt production and transportation of fuel.. . .
21/10 The U.S. economy continued to recover at
a slight to modest pace through early October as consumers
bought homes and increased spending, but the picture varied
greatly from sector to sector, the Federal Reserve. . .
21/10 Chicago Board of Trade corn and
soybean futures rose on Wednesday, as concerns about dry
conditions in key global production areas of South America
boosted export prospects for both U.S. commodities.. . .
Dhabi's International Petroleum Investment Co (IPIC) said on
Wednesday that it was dropping a lawsuit against Goldman Sachs
Group Inc to recover losses suffered from the U.S.
investment bank's dealings with Malaysian state fund. . .
21/10 Apollo Global Management Inc and
its chief executive, Leon Black, have agreed to appoint outside
counsel to review his ties with late financier and convicted sex
offender Jeffrey Epstein, the buyout firm said on. . .
21/10 Walt Disney Co Executive Chairman
Bob Iger has invested in Perfect Day and will serve on its board
along with the animal-free dairy products maker's co-founders,
the company said on Wednesday.. . .
U.S. presidential hopeful Joe Biden's promised return to
diplomacy with OPEC-members Iran and Venezuela could cut a path
for a return of their oil exports should he win, but not before
many months at. . .
21/10 Bayer's Monsanto
division on Wednesday lost a final appeal in a long-running
French legal battle in which the crop chemical maker has been
held liable for the accidental inhalation of a weedkiller by a
crop. . .
21/10 Dallas Federal Reserve Bank President
Robert Kaplan on Wednesday repeated his forecast for the U.S.
economy to shrink about 2.5% this year and grow a strong 3.5%
next year, adding that he expects the. . .
21/10 The U.S. health regulator has declined to
approve Zosano Pharma Corp's experimental treatment to
relieve pain after the onset of migraine headaches, citing
issues with its delivery during clinical trials, the company
said on Wednesday.. . .
21/10 Shares of Nikola Corp rose
nearly 10% on Wednesday after a General Motors executive
said the Detroit-based automaker still sees potential in a
partnership with the electric and hydrogen truck startup, and is
still discussing. . .
21/10 Walt Disney Co Executive Chairman Bob
Iger will share a board seat at animal-free diary maker Perfect
Day along with co-founders Ryan Pandya and Perumal Gandhi, the
company said on Wednesday.. . .
21/10 Canada's annual inflation rate
accelerated in September but softer-than-expected retail sales
growth for August and a sluggish estimate for September suggest
a dampening heading into the holidays, Statistics Canada data
showed on Wednesday.. . .
21/10 Nasdaq Inc on Wednesday reported
third-quarter profits that topped Wall Street views, helped by
strength in the transatlantic exchange operator's indexing
business and a surge in trading volumes.. . .
21/10 India's Reliance Industries, owner of the world's
biggest refining complex, imported 10% less oil in September from August and made its first
purchase of north sea's Johan Sverdrup oil, according to data from. . .
21/10 Oilfield services provider Baker Hughes
Co reported a third straight quarterly loss on Wednesday
and warned that activity may be lower next year, as a
coronavirus-induced slump in commodity prices continued to hurt
demand for. . .
21/10 Despite a "heartening" bounceback from
the initial hit to the U.S. economy delivered by the COVID-19
pandemic, the recovery is uneven and uncertain and will require
continued support to ensure it becomes broadbased and
sustainable,. . .
21/10 The U.S. government's
antitrust suit against Alphabet Inc's Google on
Tuesday could deliver a huge opportunity for Microsoft Corp
to increase usage of its Bing search engine, an
unexpected epilogue years after it abandoned a. . .
21/10 Canada's main stock index fell on
Wednesday, dragged by energy stocks, as oil prices fell after a
surprise build-up in U.S. crude stockpiles stoked concerns of a
supply glut and a spike in global. . .
21/10 Purdue Pharma LP has reached an
agreement to plead guilty to criminal charges over handling of
its addictive prescription opioid OxyContin, in a deal with U.S.
prosecutors that effectively sidesteps paying billions of
dollars in. . .
21/10 U.S. real estate group Hines and
Kuwait Investment Office-backed Cale Street have agreed to
invest 500 million euros ($592 million) to buy and develop part
of a former industrial area on the northern outskirts. . .
21/10 Resale clothing firm ThredUp Inc said on
Wednesday it has confidentially submitted paperwork with the
U.S. Securities and Exchange Commission for an initial public
offering of its Class A common stock.. . .
21/10 Morgan Stanley said on Wednesday
it will cover college expenses for 60 students at historically
Black colleges and universities (HBCUs) in the banking
industry's latest attempt to address racial injustice after the
death of George. . .
21/10 Verizon Communications Inc beat
estimates for third-quarter profit on Wednesday, helped by
strong demand for its phone and internet services as offices and
schools continued to operate virtually amid the COVID-19
pandemic.. . .
21/10 U.S. auto dealer AutoNation Inc's
quarterly profit nearly doubled on Wednesday as a
stronger-than-expected recovery in demand and tight inventories
helped drive more profit per vehicle just months after the
pandemic slammed the economy.. . .
21/10 Fund flows into European stocks have
surged in recent months, data showed, as global investors look
to diversify away from U.S. equities amid concerns over higher
valuations and caution ahead of the presidential elections.. . .
21/10 Banks that
facilitated the U.S. government's Paycheck Protection Program at
first saw the effort as a small revenue booster with a patriotic
bonus, shepherding $525 billion in loans to businesses slammed
by the fallout of. . .
21/10 Investment bankers keen to win lucrative
assignments have a new pitch for U.S. corporate owners: hire us
to sell your company now or pay at least twice as much in taxes
if Democratic presidential. . .
21/10 The prospect of China buying
copper for its stockpiles is filtering through the market ahead
of a meeting of the country's leaders to discuss its next
five-year economic and social development plan.. . .
21/10 Fund managers betting that
green-type stocks with environmental, social and governance
(ESG) credentials will benefit from an expected win by Democrat
Joe Biden in the U.S. presidential election are also looking at
a swathe of. . .
21/10 Sweden should reverse its ban on
Chinese telecommunications companies Huawei and ZTE
from a planned 5G spectrum auction to
avoid a "negative impact" on its own companies, said China's
foreign ministry.. . .
21/10 Hong Kong shares ended higher
for a fourth consecutive session on Wednesday, as hopes for a
new round of U.S. fiscal stimulus and strong third quarter
results due to China's accelerated economic recovery boosted
sentiment.. . .
21/10 Dutch paints and coatings
maker Akzo Nobel reported on Wednesday a
better-than-expected 18% jump in third-quarter core profit to
353 million euros ($418.16 million), as sales recovered from the
deep fall due to the coronavirus. . .
21/10 Pioneer Natural Resources Co
said on Tuesday it would buy smaller rival Parsley
Energy Inc in a deal valued at about $4.5 billion, the
latest consolidation among U.S. shale producers slammed by the
rout in. . .
21/10 Two top commodities trading
executives at Morgan Stanley are leaving the bank after
breaching company policy related to the use of communication
tools, a source familiar with the matter said on Tuesday.. . .
21/10 Shares of Snap Inc rallied 23%
on Tuesday after the Snapchat messaging app owner beat user
growth and revenue forecasts as more people signed up to chat
with friends and family during the coronavirus. . .
20/10 AMC Entertainment Holdings Inc,
the world's largest theater chain, said on Tuesday it would
raise cash through a share offering and was working hard to
restructure its debt and avoid seeking bankruptcy protection.. . .
20/10 The White House and Democrats
in the U.S. Congress moved closer to agreement on a new
coronavirus relief package on Tuesday as President Donald Trump
said he was willing to accept a large aid. . .
20/10 When Tesla Inc reports results
for the third quarter after the bell on Wednesday, it will be
the next three months, and whether Chief Executive Elon Musk can
achieve the company's ambitious year-end goal,. . .
20/10 Wall Street shares closed
higher Tuesday on growing optimism that U.S. lawmakers are
nearing a deal on a stimulus package aimed at cushioning the
economic shock from the coronavirus pandemic.
House of Representatives Speaker Nancy. . .
20/10 The U.S. government
stepped up an offensive on Tuesday to keep China's Huawei
Technologies out of Brazil's 5G market, with Washington
offering to finance purchases by Brazilian telecom companies of
equipment from its competitors.. . .
20/10 Snap Inc, owner of the
single-view messaging app Snapchat, on Tuesday beat Wall
Street's third-quarter forecasts for user growth and revenue as
more people signed up to chat with friends and family during the
coronavirus. . .
20/10 Brazil and the United States on
Tuesday signed a memorandum of understanding to forge closer
trade links, a step that could see U.S. Export-Import Bank
finance up to $1 billion of exports to and. . .
20/10 Two of the most senior commodities
executives at Morgan Stanley are leaving the bank after
compliance breaches related to use of communication tools,
Bloomberg News reported https://bit.ly/3j9i8UI on Tuesday,
citing two people familiar with the. . .
20/10 Officials in California,
home to Walt Disney Co's Disneyland, said on Tuesday
that large theme parks cannot reopen until a county's COVID-19
risk level drops to the lowest tier of "minimal" spread.. . .
20/10 The U.S. sued Google on
Tuesday, accusing the $1 trillion company of illegally using its
market muscle to hobble rivals in the biggest challenge to the
power and influence of Big Tech in decades.. . .
20/10 The current rise in COVID-19 infections
in the United States may not dent the recovery too much, Chicago
Federal Reserve Bank President Charles Evans said on Tuesday,
adding that he remains "reasonably optimistic" U.S.. . .
20/10 Chicago Board of Trade wheat
futures rose for the fifth day in a row on Tuesday, with the
most-active contract again touching its highest since
December 2014, on concerns about dry weather curtailing harvests
around. . .
20/10 Chicago Federal Reserve Bank President
Charles Evans said on Tuesday he is "reasonably confident" the
U.S. economic recovery will maintain momentum into next year,
but without more fiscal stimulus the recovery could stall and
more. . .
20/10 Warren Buffett's Berkshire
Hathaway Inc agreed to pay $4.14 million to settle
civil allegations that a Turkish subsidiary committed
"egregious" violations of U.S. sanctions against Iran, the U.S.
Treasury Department said on Tuesday.. . .
20/10 Washington's decision to
impose financial sanctions on the chief prosecutor of the
International Criminal Court is overshadowing the search for her
successor, with countries deadlocked over a post that has new
visibility as the target. . .
20/10 U.S. single-family
homebuilding raced to a more than 13-year high in September,
cementing the housing market's status as the star of the
economic recovery amid record-low mortgage rates and a migration
to the suburbs and. . .
20/10 General Motors Co said on
Tuesday it will invest $2 billion to convert its Spring Hill,
Tennessee, factory to produce electric vehicles, starting with
the new Cadillac Lyriq, alongside existing combustion-engine
Cadillacs.. . .
20/10 U.S. Federal Reserve Vice
Chair Randal Quarles said Tuesday that the market stresses
created by the coronavirus pandemic showed the nonbank financial
system is "significantly more fragile" than its traditional
counterpart.. . .
20/10 A trio of U.S. banking
regulators are set to move Tuesday on finalizing a pair of
long-running rulewriting projects aimed at ensuring banks have
enough liquidity while minimizing volatility.. . .
20/10 Intel Corp's $9 billion sale of
its NAND memory chip unit will help the U.S. chip giant focus on
its core business in higher-margin processors, Wall Street
analysts said on Tuesday, after its deal. . .
20/10 Canada's main stock index rose on
Tuesday, in line with Wall Street gains, as optimism around
Washington lawmakers agreeing on a U.S. stimulus deal before the
presidential election offset weakness in energy shares due. . .
20/10 U.S. homebuilding rebounded
in September as the housing market continued to be the star of
the economic recovery, driven by record-low interest rates and a
migration to the suburbs and low-density areas in search. . .
20/10 Property and casualty insurer Travelers
Companies Inc beat third-quarter profit expectations on
Tuesday, helped by higher premiums, lower costs and an increase
in returns from non-fixed income investments.. . .
20/10 Latin America's top
e-commerce firm is revving up its digital payments engine as
shops shift online amid the coronavirus pandemic, and is looking
toward China for inspiration to bring the region's un-banked and
cash-loving savers. . .
20/10 UBS doubled third
quarter profit and set aside $2.5 billion to return to
shareholders next year, a lucrative passing of the baton from
CEO Sergio Ermotti to Ralph Hamers, as the Swiss bank reaped. . .
20/10 The Democratic party's
sprawling presidential primary last spring offered a wide-open
debate on economic policy ranging from the merits of wealth
taxes and other ways to ease U.S. economic inequality to
aggressive proposals for reducing. . .
20/10 U.S. Secretary of State
Mike Pompeo will visit Sri Lanka and the Maldives this month,
officials of both Indian Ocean nations said on Tuesday, as
Washington seeks to counter China's growing influence in. . .
20/10 Japanese shares ended lower on
Tuesday, tracking overnight Wall Street losses, as investors
cautiously looked to whether U.S. lawmakers could reach an
agreement on a stimulus package as a deadline to reach the deal
came. . .
20/10 After four years of America First, some
money managers outside the United States looking for big
post-election investment winners are quietly confident it is the
turn of the rest of the world to shine.. . .
20/10 Longer-dated Japanese government
bond prices rose on Tuesday, with strong demand seen during the
20-year debt sale, powered by expectations of additional U.S.
stimulus package and a coronavirus vaccine by the end of this
year.. . .
20/10 On a windy August afternoon
in 2017, Akitsinnguaq Ina Olsen was relaxing in the old harbour
of Nuuk, Greenland's capital, when a Chinese icebreaker sailed
unannounced into the Arctic island's territorial waters.. . .
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