Bank of New York Mellon Corp reported a better-than-expected quarterly profit on Wednesday, as the world's largest custodian bank cut costs to counter weakness in its investment management business and lower interest rates.
Oil steadied below $59 a barrel on Wednesday, pressured by concerns about weaker demand for fuel due to slower economic growth and forecasts of a further rise in U.S. crude inventories.
Many companies don't expect employees to stick with them for upwards of 20 years.
U.S. stock index futures dipped on Wednesday as a new U.S. bill taking a hard line on China stoked fresh concerns about a prolonged trade war, but more positive results from the banking sector provided some relief and signaled a solid start to the third-quarter earnings season.
Bank of America Corp beat Wall Street estimates for quarterly profit as it earned more in advisory fees and grew its loan book, easing concerns that lower interest rates would crimp growth at the second-largest U.S. bank.
Medical device maker Abbott Laboratories reported quarterly revenue that fell just short of Wall Street estimates and trimmed the upper end of its full-year earnings forecast on Wednesday, sending its shares down 2%.
Here are the biggest calls on Wall Street on Wednesday
Huawei Technologies on Wednesday launched a new generation of 5G mobile antennae, anticipating an acceleration in the pace of network upgrades led by the three operators in its vast Chinese home market.
Turkey's Halkbank said on Wednesday that U.S. charges against it amount to an escalation of Washington's sanctions on Ankara over its military incursion in Syria, while President Tayyip Erdogan called them an "unlawful, ugly" step.
Bayer expects the number of claims in the United States related to Roundup herbicide to have surged in the third quarter, as the German drugs and pesticides maker tries to reach a settlement after earlier court rulings against it.
Bulgaria is ready to offer more incentives to Volkswagen to build a new plant in the country after the carmaker postponed a decision on building it in Turkey amid criticism of Ankara's offensive in Syria.
Britain's competition regulator said on Wednesday it had launched a formal investigation into Amazon.com Inc's investment in food delivery company Deliveroo, setting a December 11 deadline for a decision https://reut.rs/2ONs4b0 on the first phase of its probe.
U.S. chipmaker Broadcom said on Wednesday that an EU antitrust order to halt certain business deals with six TV and modem makers will not have a material impact on its business and it will challenge the EU move in court.
Bank of New York Mellon Corp reported a 7% fall in quarterly profit on Wednesday, as the world's largest custodian bank earned lower fees and took a hit from a drop in interest rates.
Nobel Prize winning economist Robert Shiller's new book, "Narrative Economics", examines why some economic stories go viral.