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JPMorgan to brief clients on volatility in equity markets

August 18, 2019 by  
Filed under News

JPMorgan Chase & Co plans to host a conference call for clients on Tuesday to address recent market moves, after last week’s inversion of the U.S. Treasury yield curve and a sharp sell-off on global stock markets.


Source: Reuters Business News

White House says no recession in sight, pushes China trade talks

August 18, 2019 by  
Filed under News

White House officials pushed back on Sunday against concerns that economic growth may be faltering, saying they saw little risk of recession despite a volatile week on global bond markets, and insisting their trade war with China was doing no damage to the United States.


Source: Reuters Business News

Novartis executive sold shares before drug data manipulation made public

August 18, 2019 by  
Filed under News

An unnamed Novartis executive sold 925,400 Swiss francs ($946,000) worth of shares less than three weeks before the U.S. Food and Drug Administration (FDA) announced data from tests of its gene therapy Zolgensma had been manipulated.


Source: Reuters Business News

U.S. whiskey exporters struggle after year of EU tariffs

August 18, 2019 by  
Filed under News

When Europe’s tariffs on U.S. whiskey hit in June 2018, craft distillery Mountain Laurel Spirits LLC lost 10% of its sales overnight as its European distributor simply stopped buying its award-winning Dad’s Hat Pennsylvania Rye Whiskey.


Source: Reuters Business News

Ferrari will expand its lineup of road cars, but not too much

August 18, 2019 by  
Filed under News

Italian premium sports car maker Ferrari NV will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche’s annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.


Source: Reuters Business News

Exclusive: U.S. set to give Huawei another 90 days to buy from American suppliers – sources

August 17, 2019 by  
Filed under News

The U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, two sources familiar with the situation said.


Source: Reuters Business News

SoftBank plans to lend up to $20 billion to employees to invest in new fund: WSJ

August 17, 2019 by  
Filed under News

Japan’s SoftBank Group Corp is planning to lend up to $20 billion to its employees, including Chief Executive Masayoshi Son, to buy stakes in its second Vision Fund, the Wall Street Journal reported https://on.wsj.com/307Ljih on Saturday, citing people familiar with the matter.


Source: Reuters Business News

Standard Chartered faces fine for sanctions breaches: Sky News

August 17, 2019 by  
Filed under News

Banking group Standard Chartered is facing a fine for failing to prevent sanctions breaches, Sky News reported on Saturday.


Source: Reuters Business News

Alibaba and the $15 billion question: Amid Hong Kong's protests, when to list?

August 17, 2019 by  
Filed under News

Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables.


Source: Reuters Business News

Court leaves PG&E with sole right to submit bankruptcy plan

August 16, 2019 by  
Filed under News

A federal judge on Friday allowed PG&E Corp to retain the sole rights to propose a plan to exit bankruptcy, as he rejected efforts by investors to put forward competing plans, according to court documents.


Source: Reuters Business News

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