Oil deepens slide on recession fears, China's trade threats
Oil prices fell more than 1% on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.
Oil prices fell more than 1% on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.
J.C. Penney Co Inc reported a smaller-than-expected quarterly loss on Thursday, as the department store operator's efforts to cut costs and shutter unprofitable businesses paid off, sending shares of its penny stock higher by as much as 14%.
General Electric shares fell 7.5% on Thursday after Harry Markopolos, the whistleblower in the Bernard Madoff Ponzi scheme case, said GE's financial filings were masking the depths of its financial problems.
Ryanair expects minimal cancellations with affected passengers flying out at different times if pilots in Britain and Ireland go ahead with a two-day strike next week, the airline's chief people officer said on Thursday.
GE says the allegations of fraud are "entirely false and misleading."
Early birds can start applying for financial aid on Oct. 1. Just be sure to avoid these three common blunders.
U.S. stocks tried to bounce back on Thursday from a steep selloff a day earlier, as strong retails sales data and upbeat Walmart earnings eased concerns of a recession, but mixed signals on trade and Cisco's dismal forecast capped gains.
The dollar recovered from early weakness but a gauge of global equity performance edged lower on Thursday as concerns about global growth offset investor optimism over a surge in U.S. retail sales last month and strong Walmart earnings.
Whistleblower Harry Markopolos released a new report about General Electric, saying the company is using some of the same accounting tricks as Enron.
GE says the allegations of fraud are "entirely false and misleading."
General Electric shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems.
U.S. retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, helping to assuage financial market fears that the economy was heading into recession.
Wall Street seesawed from red to black and back on Thursday as recessionary fears and simmering U.S.-China trade tensions offset upbeat retail sales data.
The World Trade Organization (WTO) on Thursday adopted final findings against U.S. duties imposed on a range of Chinese imports, effectively giving Beijing a green light to seek compensatory sanctions.
General Electric Co Chief Executive Larry Culp said on Thursday that a report alleging GE was hiding financial problems was "market manipulation – pure and simple."