World shares made another push for an elusive record high on Wednesday after U.S. President Donald Trump said Washington and Beijing were in the final throes of inking an initial trade deal.
Even though the U.S. stock market continues a record-breaking rally that has sent the benchmark S&P 500 index up nearly 25% for the year, investors appear to be looking elsewhere for better values in the year ahead.
Eleven drugmakers led by Pfizer and Novartis have set aside a combined $2 billion to invest in gene therapy manufacturing since 2018, according to a Reuters analysis, in a drive to better control production of the world's priciest medicines.
U.S. stock index futures were slightly higher on Wednesday, as optimism around trade talks continued, while investors waited for crucial domestic economic indicators in a holiday-shortened week.
Deere & Co. on Wednesday reported lower fourth-quarter earnings, hurt by trade tensions as well as poor weather in the U.S. farm belt that have slowed equipment purchases by farmers.
Saudi Arabia's wealthy Gulf neighbors plan to invest in the initial public offering (IPO) of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6 billion from a domestic listing of the state oil giant.
Deutsche Bank has sold $50 billion (45 billion euros) in unwanted assets to Goldman Sachs as part of its restructuring, a person with knowledge of the matter said on Wednesday, confirming a Bloomberg report.
U.S. private equity firm Silver Lake has bought a 10% stake in Manchester City's Abu Dhabi-controlled owner, adding to its $43 billion worth of investments which include the world's best-known sports venues and teams as well as technology companies.
The Abu Dhabi-controlled soccer group that owns Manchester City has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world's most valuable soccer group with a $4.8 billion price tag.
World shares made another push for a record high on Wednesday after U.S. President Donald Trump said Washington and Beijing were in the final throes of inking an initial trade deal.
Commerzbank managers are keeping employees in the dark about the German lender's overhaul plans, a union representative said on Wednesday.
Bargain hunters have helped molybdenum recover after prices crashed to two-year lows, but ample supplies of the metal used to make stainless steel mean further significant gains for now are unlikely, analysts say.
WeWork's failure to go public and this year's disappointing tech IPOs in the United States are a positive sign of market discipline and investor vigilance, Oaktree Capital's billionaire co-chairman Howard Marks said.
U.S. stocks will keep rising in 2020 but at a much more modest pace than this year, with plenty to potentially slow the ascent, according to a Reuters poll of strategists.
The number of Americans filing applications for unemployment benefits fell last week, but the underlying trend suggested some softening in labor market conditions.