Farfetch tops price range in IPO in boon to luxury market
Farfetch priced its shares above its targeted range on Friday in a New York flotation that values the online luxury retailer at over $5.8 billion and underscores how big a bet web sales have become for high-end brands.
Source: Reuters Business News
S&P 500, Dow hit new highs ahead of index reshuffle
The S&P 500 and Dow reached record highs on Friday ahead of Monday’s major sector reshuffle, capping a week that largely shrugged off trade worries.
Source: Reuters Business News
Caterpillar leans on old playbook to cope with Trump tariffs
Six months into the U.S. tariffs on imported aluminum and steel, Caterpillar Inc is finding that one of the best ways it can protect profits is a cost cutting strategy that is more than two years old.
Source: Reuters Business News
White House optimistic on China trade; no date for more talks
The United States is optimistic about finding a way forward in its trade dispute with China, but it does not have a date scheduled for further talks as it assesses Beijing’s response to the latest round of tariffs, a senior White House official said on Friday.
Source: Reuters Business News
AT&T asks U.S. appeals court to uphold approval of Time Warner acquisition
AT&T Inc on Thursday asked a federal appeals court to reject the Justice Department’s challenge to its acquisition of Time Warner, saying the government had offered no basis for second guessing key conclusions of a ruling upholding the transaction.
Source: Reuters Business News
Amazon adds new Echo devices in bid to dominate voice gadgets
Amazon.com Inc on Thursday introduced a dozen new Echo speakers and related gadgets in a bid to stay ahead of rivals Apple Inc and Alphabet Inc’s Google in the nascent category for voice-controlled devices.
Source: Reuters Business News
Opel to further scale back production at Ruesselsheim: report
Carmaker Opel, a unit of France’s PSA Group , is planning to further scale back production at its Ruesselsheim plant, a local newspaper group reported on Friday.
Source: Reuters Business News
Trump says OPEC 'monopoly' must get prices down
U.S. President Donald Trump linked American support for Middle Eastern countries to oil prices on Thursday as he again urged OPEC to lower prices.
Source: Reuters Business News
Dow regains record territory as trade concerns ease
The Dow Industrial Average was the last among Wall Street’s main indexes to regain record territory on Thursday, as investor concerns over U.S.-China trade spat cleared away and focus shifted to the strength of the economy.
Source: Reuters Business News
SEC sues ex-CEO of California breast implant company after stock nosedived
The U.S. Securities and Exchange Commission on Wednesday sued the founder and former chief executive of Sientra Inc for fraudulently concealing problems with his company’s breast and other implants as it was raising $61.4 million in a public stock offering.
Source: Reuters Business News