Business

Wall Street ends flat as mixed economic data signals caution

U.S. stocks barely budged on Monday, with slight gains in shares of Apple offset by mixed economic data that added to caution over the prolonged U.S.-China trade war. Apple Inc (AAPL.O) rose 0.5% after U.S. trade regulators approved 10 of 15 requests for tariff exemptions by the iPhone maker. Micron Technology Inc (MU.O), which supplies […]

Business

Timeline: Key events in Huawei CFO Meng Wanzhou’s extradition case

Meng Wanzhou, chief financial officer of Huawei Technologies Co Ltd [HWT.UL], will appear in a Vancouver, Canada, courtroom on the first of three days of trial starting on Monday. Here is a timeline of the case and its geopolitical implications. AUG. 22, 2018: A New York court issues an arrest warrant for Meng, so that […]

Business

Exclusive: We Company CEO Neumann starts talks on his role at WeWork parent – sources

WeWork co-founder Adam Neumann has started talks with board directors and investors to discuss his future role at the U.S. office-sharing start-up, including the possibility of giving up his title as chief executive, people familiar with the matter said on Monday. Neumann has not yet agreed to step aside as CEO of WeWork parent We […]

Business

Fox Corp’s Rupert Murdoch gets paid $42.2 million in 2019

Fox Corp (FOXA.O) Chairman Rupert Murdoch was paid $42.2 million in fiscal 2019, lower than last year, following the media company’s sale of its film and TV assets to Walt Disney Co (DIS.N). In a filing on Monday, Fox said Murdoch’s compensation in 2018 was $49.2 million. CEO Lachlan Murdoch’s compensation for the year ending […]

Business

Fed’s Bullard: U.S.-China trade relations probably had to come to a head

St. Louis Federal Reserve President James Bullard said on Monday it was probably inevitable that the United States and China would clash on trade, given that China has not lived up to commitments made when it was allowed into the World Trade Organization. “The Chinese were allowed into the WTO on an implicit promise that […]

Business

Canada says officials did not act improperly when Huawei CFO was arrested

There is no evidence Canadian border officials or police acted improperly when Huawei Chief Financial Officer Meng Wanzhou was detained and arrested at Vancouver’s airport nearly 10 months ago, the attorney general of Canada said in a filing released on Monday. The filing was made available as Meng and her lawyers sought additional disclosures relating […]

Business

UBS, Banco do Brasil to create investment banking venture in South America

Switzerland’s UBS Group AG (UBSG.S) and state-controlled Banco do Brasil SA (BBAS3.SA) signed a preliminary agreement on Monday to create a joint venture in investment banking in South America, the Brazilian bank said in a securities filing. According to the filing, the new joint venture will provide investment banking services in Brazil and a number […]