U.S. Senate Democrats on Thursday failed to pass a measure to block oil and gas drilling in part of the Arctic National Wildlife Reserve, losing to Republicans who believe production there would provide jobs and wealth. Continue Reading Below An amendment blocking the development failed 48-52, mostly along party lines. […]
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Lyft says Alphabet leads latest $1 billion round of funding
Uber rival Lyft said on Thursday Capital G, the growth investment fund of Google parent company Alphabet Inc (GOOGL), led a $1 billion round of financing, boosting the valuation of the ride-hailing service to $11 billion. Continue Reading Below The company already received an investment from GM but it looks […]
FDA approves Gilead cancer gene therapy; price set at $373,000
U.S. regulators approved on Wednesday a new therapy for a type of lymphoma, which was developed by Gilead Science Inc’s Kite Pharma, marking the second approval for this potentially revolutionary approach to fighting cancer. Continue Reading Below The Food and Drug Administration approved the gene therapy, to be sold under […]
Oil markets stable on tighter US market, expected extension of OPEC supply cuts
Oil prices were stable on Thursday, supported by ongoing OPEC-led supply cuts, tensions in the Middle East and lower U.S. production due to hurricane-enforced closures. Continue Reading Below Brent crude futures were at $58.10 at 0411 GMT, slightly lower than their last close, but around 30 percent above mid-year levels. […]
U.S. bankers hold onto hopes that Trump will boost profits
Top U.S. bankers are still hoping that President Trump’s administration will make policy changes to boost profits, but made clear in public comments in recent days that they are not seeing any signs of progress so far. Continue Reading Below Optimism about tax cuts, infrastructure investment and an unwind of […]
China third-quarter GDP growth slows as expected
China’s economic growth slowed slightly as expected in the third quarter as the government’s efforts to rein in the property market and debt risks tempered activity in the world’s second-largest economy. Continue Reading Below The economy grew 6.8 percent in the third quarter from a year earlier, in line with […]
Trump selects Washington lawyer Joe Simons to head FTC: official
President Donald Trump has selected Joseph Simons, an antitrust attorney from a Washington law firm, to head the Federal Trade Commission, a White House official said on Wednesday. Continue Reading Below Trump is expected to nominate Simons to the agency, along with Noah Phillips and Rohit Chopra to be FTC […]
Blue Apron cuts 6 percent of its workforce
Blue Apron Holdings Inc (APRN) said it had cut about 6 percent of its total workforce, nearly four months after going public, as the meal-kit delivery company comes under increasing pressure from deep-pocketed rivals such as Amazon.com Inc (AMZN). Continue Reading Below Blue Apron, which went public in June has […]
AmEX CEO Kenneth Chenault stepping down, Stephen Squeri takes over
Credit card issuer American Express Co (AXP) said on Wednesday long-time Chief Executive Kenneth Chenault will step down and will be replaced by Stephen Squeri. Continue Reading Below Net income attributable to common shareholders rose to $1.36 billion, or $1.50 per share, in the third quarter ended Sept. 30, from […]
United Airlines third-quarter profit falls, hurt by storms
United Airlines <UAL.N> on Wednesday said its third-quarter net income fell by a third to $669 million from the year-ago period, partly due to $185 million in pretax losses caused by canceled flights during the Atlantic hurricane season. Continue Reading Below The Chicago-based carrier’s passenger revenue per available seat mile, […]