Business

S&P 500 finishes within points of record high close

The S&P 500 jumped on Wednesday but finished just short of its February record closing high, in a broad rally led by tech-related stocks. The index in afternoon trading briefly surpassed its record high closing level of 3,386.15 from Feb. 19, before the onset of the coronavirus crisis in the United States that caused one […]

Business

Cisco’s first-quarter forecast disappoints, shares fall

Cisco Systems Inc on Wednesday forecast first-quarter revenue and profit below Wall Street estimates and laid out a restructuring plan, as the coronavirus crisis forced its clients to hold back spending. Shares of the top network equipment maker fell nearly 5% after the bell. The restructuring, which includes a voluntary early retirement program and layoffs, […]

Business

Airbus expects EU to respond to U.S. tariffs in aircraft subsidy dispute

Airbus (AIR.PA) on Wednesday said it regretted a U.S. decision to keep in place 15% tariffs on Airbus aircraft despite European Union actions to comply with World Trade Organization rulings, and said it expected Brussels to defend European interests. “Airbus profoundly regrets that, despite Europe’s recent actions to achieve full compliance, USTR has decided to […]

Business

Facebook, Snap held talks to buy TikTok rival Dubsmash

Facebook Inc and Snapchat owner Snap Inc held talks to buy Dubsmash, the Information reported on Wednesday, putting a spotlight on pop video apps at a time when Microsoft Corp is trying to workout a deal to buy rival TikTok. Facebook and Snap were no longer in deal talks, the report said. “We admire the […]

Business

Global stocks rise on U.S. stimulus bets; gold whipsawed

Global stocks rose on Wednesday, ending at their highest since February as investors kept betting on more stimulus in the United States despite doubts, while gold was whipsawed and silver clawed back from a massive drop. The euro strengthened versus the greenback and the dollar index gave back some recent gains, barely changed mid-way this […]

Business

China to raise issues surrounding WeChat, TikTok in trade talks with U.S.

Trade negotiators from the United States and China will discuss the implementation of the phase one trade deal in the coming days, with China likely to bring up issues surrounding TikTok and WeChat,. Agricultural purchases and the dollar-yuan exchange rate will also be among the topics to be discussed in the virtual meeting that may […]

Business

Deutsche Boerse expels Wirecard from Germany’s blue-chip index DAX

Exchange operator Deutsche Boerse (DB1Gn.DE) will remove Wirecard (WDIG.DE), the payments company that folded after an accounting scandal, from the DAX index of Germany’s leading blue-chip stocks this month following an index rule change. The exchange operator on Wednesday said it had opted for new rules – which were proposed last month – to allow […]