Asia stocks shake off Wall St. blues, sterling steady pre-Brexit talks Asian stocks rose on Monday, shaking off Wall Street’s subdued performance on Friday, and sterling was steady after a van rammed into worshippers leaving a London mosque, killing at least one person, as markets braced for the start of […]
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Business
With Whole Foods, Amazon on collision course with Wal-Mart When Wal-Mart Stores Inc bought online retailer Jet.com for $3 billion last year, it marked a crucial moment – the world’s largest brick-and-mortar retailer, after years of ceding e-commerce leadership to arch rival Amazon, intended to compete. On Friday, Amazon.com Inc […]
Takata would stop making air-bag inflators under new plan Japan’s Takata Corp (7312.T), facing bankruptcy over the biggest recall in automotive history, would stop making air-bag inflators after completing a global recall, under a restructuring plan under consideration by its steering committee, sources told Reuters on Friday. The committee is […]
Yellen says Fed to give banks more details on stress tests The Federal Reserve will give banks more details on how it conducts annual stress tests, including the qualitative part of the tests, when it publishes the results later this month, Chair Janet Yellen said Friday in a letter to […]
Weak inflation erodes conviction at Fed on rate hikes When the Federal Reserve raised rates earlier this week, Fed Chair Janet Yellen expressed confidence that recent weak inflation readings were transitory. Fed officials on Friday signaled that doubts are simmering. In an interview with Reuters on Friday, Minneapolis Federal Reserve […]
Amazon to Buy Whole Foods for $13.4 Billion Amazon agreed to buy the upscale grocery chain Whole Foods for $13.4 billion, in a deal that will instantly transform the company that pioneered online shopping into a merchant with physical outposts in hundreds of neighborhoods across the country. The acquisition, announced […]
Air bag maker Takata to file for bankruptcy this month akata Corp, the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from U.S. auto parts […]
U.S. acts to seize stolen assets, Picasso in probe of Malaysian fund The Justice Department took legal action on Thursday to recover about $540 million in assets that authorities say were stolen by financiers associated with a sovereign wealth fund established by Malaysia’s prime minister, including a Picasso painting that […]
Is the Fed ready to consider lifting its inflation target? Years of tepid economic recovery have Fed Chair Janet Yellen and other central bankers considering what was once unthinkable: abandoning decades-long efforts to hold inflation down and allowing price expectations to creep up. In remarks on Wednesday, Yellen called an […]
Bank of America to lay off more workers Bank of America Corp has begun laying off employees in its operations and technology division, part of the second-largest U.S. bank’s plan to cut costs. On Wednesday the bank cut jobs across that division, many of which came from its Charlotte, N.C., […]
