Wells Fargo & Co’s board has retained executive search firm Spencer Stuart to hunt for a new chief executive, ideally a woman who can tackle its regulatory and public perception issues, two people familiar with the matter said.
Global stock markets mostly edged higher on Friday as data showing U.S. economic growth accelerated in the first quarter offset corporate earnings disappointments, while the dollar fell against a basket of currencies.
Strong U.S. economic growth and modest inflation are giving Washington leverage over Beijing in trade talks, the White House’s top economic adviser said on Friday as U.S. and Chinese negotiators prepared for a new round of meetings next week.
Within hours of the collapse of merger talks with Commerzbank, Christian Sewing scrambled to convince investors and employees that Deutsche Bank can stand on its own two feet.
Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.
U.S. auto sales are expected to drop about 3.5 percent in April from a year-ago period, as rising prices and reduced incentives pinch buyers at the lower end of the spectrum, according to industry consultants J.D. Power and LMC Automotive.
Chevron Corp’s first-quarter profit fell 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but topped forecasts and signalled it is committed to buying smaller rival Anadarko Petroleum Corp.
Exxon Mobil Corp on Friday reported a 49 percent fall in first-quarter profit that missed forecasts due to lower oil and gas prices and weakness across its major businesses that outweighed modest production gains.
American Airlines Group Inc cut its 2019 profit forecast on Friday, blaming an estimated $350 million hit from the grounding of Boeing’s 737 MAX planes, but said it was confident that the jets would start flying again before mid-August.
Daimler’s first-quarter operating profit fell 16 percent on Friday as a 718 million euro ($800 million) one-off gain failed to offset raw material costs, technology investments and production delays at three Mercedes-Benz factories.
Slack Technologies, operator of the popular workplace instant-messaging app, reported an annual loss of $140.7 million, the company said on Friday ahead of its planned public market debut.
Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.
Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
U.S. President Donald Trump on Friday said trade talks with China are going very well, as the world’s two largest economies seek to end talks with a trade agreement to defuse tensions.
Chevron Corp said on Friday first-quarter profits slid 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but the No. 2 U.S. oil and natural gas producer still topped forecasts.
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