Wall Street slumps at open as investors seek safety
U.S. stocks opened lower on Wednesday, as investors sought safety in gold and government bonds on worries about the impact of a long-drawn U.S.-China trade war on global growth.
U.S. stocks opened lower on Wednesday, as investors sought safety in gold and government bonds on worries about the impact of a long-drawn U.S.-China trade war on global growth.
Capri Holdings Ltd missed quarterly revenue estimates and cut its full-year sales forecast on Wednesday, as the high-end fashion house struggled with slowing demand for its Michael Kors brand at department stores and at its own retail outlets.
Michael Kors-owner Capri Holdings Ltd has no plans to raise prices even if tariffs on Chinese imports go up to 25%, Chief Executive Officer John Idol said on Wednesday.
Oil prices fell further on Wednesday, extending recent heavy losses as deepening U.S.-China trade tensions weighed on the outlook for the global economy and energy demand.
FedEx Corp confirmed on Wednesday it would terminate its contract with Amazon.com Inc for small-package ground deliveries, as the online retailer focuses on building out its own delivery network.
"It's very easy to take our cue from a false cue," argues CNBC's Jim Cramer, warning investors not to move too quickly when markets are in turmoil.
Corporate sustainability reports often omit financially material information, vary in their scope and depth and seldom undergo independent audits.
Ryanair has decided to close its base at Faro International Airport in southern Portugal from next year with the loss of at least 120 jobs, the SNPVAC cabin crew union, which had called a strike for Aug. 21-25, said on Wednesday.
India's Reliance Industries Ltd is partnering with iconic U.S.-based luxury jeweller Tiffany & Co to open a line of stores in the country, adding yet another marquee name to its growing portfolio of brands.
Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking sources said.
U.S. stocks plunged on Wednesday, with the Dow Jones Industrial Average falling more than 450 points, as investors were spooked by the latest signals from the bond market that pointed to heightened risk of a recession.
It's never too late to start focusing on your financial life, says certified financial planner Lazetta Rainey Braxton.
Short-sellers targeting U.S. stocks logged a one-day paper profit of $24.75 billion on the selloff on Aug. 5, according to data from financial technology and analytics firm S3 Partners.
Tesla Inc received a cease-and-desist letter last year from the U.S. National Highway Traffic Safety Administration (NHTSA) for making misleading statements over safety ratings of its Model 3 cars, according to documents seen by Reuters.
As central banks around the world engage in unprecedented easing, negative yielding debt is ballooning, endangering global economy.