Trading Ideas
Tesla lays off nine percent of its workforce
Tesla hasn’t produced nearly as many of its vaunted Model 3 affordable EVs as …read more […]
Month: June 2018
Business News
Morgan Stanley’s ‘most attractive business’ is fixed income: CEO
NEW YORK (Reuters) – Morgan Stanley Chief Executive Officer James Gorman called the bank’s fixed-income group its “most attractive business” on Tuesday at a conference the Wall Street firm held in New York.
Business News
Musk says Tesla cutting 9 percent of jobs
(Reuters) – Tesla Inc is cutting about 9 percent of jobs across the company, billionaire Chief Executive Elon Musk said on Tuesday, as it seeks to reduce costs without endangering the critical ramp up of production of its Model 3 sedan.
Business News
Tesla to cut 9 percent of jobs: Bloomberg
(Reuters) – Tesla Inc is planning to cut about 9 percent of jobs across the company, Bloomberg reported on Tuesday.
Business News
Wells Fargo workers push for more board access, so far in vain
(Reuters) – A labor-backed group is stepping up pressure on Wells Fargo & Co to add an employee to a council that has the ear of the bank’s board and management, arguing workers deserve a voice as Wells Fargo works to get past a damaging scandal over sales practices.
Business News
Wall Street edges higher with focus on Fed
(Reuters) – U.S. stocks edged higher on Tuesday, with help from Twitter and media stocks, as investors looked past a historic U.S.-North Korea summit and focused on the Federal Reserve’s policy meeting.
Business News
As millennials age, more U.S. companies look ahead to Generation Z
NEW YORK (Reuters) – After a decade of focusing on the so-called millennial generation, some U.S. companies are starting to look ahead to what’s next.
Business News
New York top court narrows Martin Act in $11 billion Credit Suisse case
NEW YORK (Reuters) – New York’s highest court on Tuesday curbed the state attorney general’s ability to fight fraud on Wall Street, awarding a victory to Credit Suisse Group AG as it tries to end an $11 billion lawsuit over risky mortgage securities.
Business News
L’Oreal to appeal after UK setback in haircare patent row
PARIS (Reuters) – L’Oreal , maker of brands like Lancome and Maybelline, said on Tuesday it would seek to appeal a British court ruling favoring a U.S. start-up that accuses the French cosmetics giant of infringing its patent on a haircare product.
Trading Ideas
Bipartisan Senate effort aims to override Trump’s deal to save ZTE
A bipartisan group of Senators has added language to the National Defense …read more […]
Business News
Wall Street edges higher as focus shifts to Fed
(Reuters) – U.S. stocks posted small gains on Tuesday as investors focused on the Federal Reserve’s policy meeting, while looking past President Donald Trump’s historic summit with North Korean leader Kim Jong Un.
Trading Ideas
Acacia says ZTE business to remain suspended until ban lifted
The Chinese company reached a $1.4 billion settlement with the Commerce Department, made public on Monday, to resume business with U.S. suppliers. ZTE said on Tuesday its shares would resume trading on the Hong Kong stock exchange on June 13 following its settlement with the United States. Acacia said the settlement may ultimately allow it to resume ties with ZTE. …read more […]
Business News
U.S. SEC charges Bank of America subsidiary $15 million for RMBS trader lapses
WASHINGTON (Reuters) – The Securities and Exchange Commission on Tuesday said Bank of America subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc. will pay $15 million to settle charges that staff misled clients into overpaying for Residential Mortgage Backed Securities (RMBS).
Business News
China’s ZTE to resume trading after $1.4 billion U.S. settlement
HONG KONG (Reuters) – ZTE Corp said trading in its shares would resume on Wednesday, ending a two-month suspension, after the Chinese telecommunications giant agreed to pay up to $1.4 billion in penalties to the U.S. government and radically overhaul its management.
Business News
VW board to discuss prosecutors’ probe into Audi CEO on Monday
HAMBURG/BERLIN (Reuters) – Volkswagen’s supervisory board will on Monday discuss German prosecutors’ investigation into the head of its Audi brand, as the carmaker weighs up how to tackle the latest fallout from its 2015 emissions scandal, sources said.