Goldman Sachs cut its target price for Westpac Banking Corp on Friday as Australia's second-biggest bank stands accused of massive breaches of anti-money laundering laws and faces billions of dollars in fines.
Gap Inc edged past lowered expectations for quarterly profit on Thursday and reiterated its plan to separate Old Navy from the namesake brand, days after the retailer cut its annual forecast and replaced longtime chief executive officer.
Goldman Sachs became the first major investment bank to cut its target price for Westpac Banking Corp on Friday as Australia's No.2 lender faces allegations of massive breaches of anti-money laundering laws and billions of dollars in fines.
An Australian bond fund has started to divest Westpac bonds following allegations by the country's financial crime regulator of money laundering compliance breaches, some of which related to financing child exploitation.
Panasonic Corp has no plans to build a new battery plant for Tesla Inc in China, the Japanese company's chief executive said, as it struggles to make profits from its existing battery business with the electric vehicle maker.
Asian equities posted a mild bounce on Friday from three-week lows hit the previous day, with persistent worries over the status of trade negotiations between China and the United States limiting the gains.
Societe Generale's regional heads of trade and commodities finance for Asia Pacific have left the Paris-based bank, raising concerns among Singapore-based shipping fuel traders that it may wind back financing services to the sector.
Tesla Inc on Thursday unveiled its first pickup truck, delivering on a promise by Chief Executive Elon Musk to build an electric version of America's favorite vehicle and one that threatens the heart of Detroit automakers' profits.
Charles Schwab Corp is in advanced talks to acquire TD Ameritrade Holding Corp , a person familiar with the matter said on Thursday, in a deal that could exceed $26 billion and combine the two largest U.S. discount brokerages.
A late-year rush of giant global share sales led by Alibaba's $13 billion Hong Kong listing and Aramco's $26 billion initial public offering is failing to deliver an equivalent payday for equities bankers.
Pressure mounted on the chief executive of Westpac Banking Corp on Thursday over the handling of Australia's biggest money laundering scandal, with the prime minister calling on bank's board to review his position.
Global stocks took a beating on Thursday as a fresh row between Washington and Beijing over U.S. legislation on Hong Kong threatened to undermine their trade talks and delay a "phase one" deal that investors had initially hoped to be signed by now.
China will strive to reach a "phase one" trade agreement with the United States as both sides keep communication channels open, the Chinese commerce ministry said on Thursday, in an attempt to allay fears talks might be unraveling.
German carmaker BMW on Thursday said it had ordered more than 10 billion euros' ($11.07 billion) worth of battery cells from Chinese battery cell maker Contemporary Amperex Technology Co (CATL) and Samsung SDI .
SoftBank Group Corp is sounding out Japan's top three banks to borrow around 300 billion yen ($2.8 billion) to help fund its support of U.S. startup WeWork, three people familiar with the matter said on Thursday.