Banks pummeled as rates dive, but analysts say sell-off is an overreaction
Bank stocks are getting slammed this week as the trade war heats up but some analysts say that selling is misplaced.
Bank stocks are getting slammed this week as the trade war heats up but some analysts say that selling is misplaced.
Former U.S. Defense Secretary Jim Mattis will rejoin the board of defense company General Dynamics Corp , seven months after quitting his job in the Trump administration over disagreements about the president's foreign policy, the defense contractor said on Wednesday.
The U.S. agency responsible for government contracts on Wednesday released an interim rule for a ban on federal purchases of telecommunications equipment from five Chinese companies, including Huawei.
Investors rushed into the safety of U.S. government bonds on Wednesday, muting a broad stocks rally as fears of a global recession grew.
Advanced Micro Devices Inc on Wednesday released the second generation of its processor chip for data centers and said that it had landed Alphabet Inc' Google and Twitter Inc as customers.
The U.S. dollar's dominance will come to an end if the Federal Reserve gives in to pressure from financial markets and President Donald Trump and chops interest rates another 50 basis points this year, a Reuters poll of market strategists showed.
Manuel Medina Mora, one of the most influential Mexican bankers to work on Wall Street during a long career at Citigroup Inc , has died, the bank's Mexican unit Citibanamex said on Wednesday. He was 69.
Asian shares braced for more volatility on Thursday as eye-catching easings by central banks stoked fears of global recession, driving U.S. yields to near-record lows and lifting gold past $1,500 for the first time since 2013.
Glencore Plc posted an almost one-third fall in first-half core profit on Wednesday, missing market expectations, as it was hit by a collapse in global cobalt prices that would force it to suspend production at its Mutanda mine.
U.S. stocks slipped on Wednesday, as investors reeling from rising trade tensions fled riskier assets for perceived safer havens, leading the bond market to price in a slide into recession.
Short-sellers targeting U.S. stocks logged a one-day paper profit of $24.75 billion on the sell-off on Aug. 5, according to data from financial technology and analytics firm S3 Partners.
Commerzbank on Wednesday posted net profit in the second quarter that was little changed from a year ago, helped by low taxes, but the German bank said its target for a slight increase in full-year net profit had become "significantly more ambitious".
There is a lot of advice out there on how to move up the ladder, but if you focus on these four things, you'll find success, says former Yum Brands CEO David Novak.
CVS Health Corp raised its full-year profit forecast and reported higher-than-expected second-quarter results on Wednesday, as increased U.S. prescription drug prices fueled rebates to its pharmacy benefits business.
Wendy's Co stuck to its full-year profit forecast on Wednesday after edging past analysts' estimates for second quarter in the face of a handful of major marketing investments by some of its biggest rivals, sending its shares 7% higher.