The United States and China dealt with the spread of the devastating coronavirus pandemic in vastly different ways, and that split is reshaping the global battle between the world's two leading economies.
The U.S. economy continued to recover at a slight to modest pace through early October as consumers bought homes and increased spending, but the picture varied greatly from sector to sector, the Federal Reserve said on Wednesday.
Abu Dhabi's International Petroleum Investment Co (IPIC) said on Wednesday that it was dropping a lawsuit against Goldman Sachs Group Inc to recover losses suffered from the U.S. investment bank's dealings with Malaysian state fund 1MDB.
The family owners of Italian fashion house Salvatore Ferragamo have held informal talks with investors to sell a minority stake in their holding firm as they scramble to turn around the brand famous for shoes worn by Hollywood stars such as Audrey Hepburn, five sources told Reuters.
Ferruccio Ferragamo "categorically denies" having had any informal meetings or discussions with investors to sell shares in luxury brand Salvatore Ferragamo , a spokeswoman for the fashion group said on Wednesday.
Global stocks sought direction on Wednesday, while gold hit a one-week high and the dollar fell to a six-week low as investors waited to see whether an agreement could be reached on a fresh U.S. coronavirus relief package.
Tesla Inc Chief Executive Elon Musk on Tuesday evening tweeted that the electric car maker will be rolling out a new version of its Full Self Driving software, the latest attempt by the California-based company to tout autonomous driving.
Apollo Global Management Inc and its chief executive, Leon Black, have agreed to appoint outside counsel to review his ties with late financier and convicted sex offender Jeffrey Epstein, the buyout firm said on Wednesday.
Walt Disney Co Executive Chairman Bob Iger has invested in Perfect Day and will serve on its board along with the animal-free dairy products maker's co-founders, the company said on Wednesday.
Self-driving car maker Cruise said on Wednesday it and majority shareholder General Motors Co would seek U.S. regulatory approval in coming months to deploy a limited number of Cruise Origin vehicles without steering wheels or pedals.
Purdue Pharma agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal that comes with a $8.4 billion settlement but stops short of criminally charging its executives or wealthy Sackler family owners. Conway G. Gittens has more.
Tesla, the $400 bln electric vehicle giant, has seen its share price surge this year. Its valuation will remain tough to justify regardless of its upcoming third-quarter results. Yet an EV bubble might have long-term positive effects by spurring innovation, says Anna Szymanski.
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