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Germany's BASF warns on profits amid weak auto sector, trade
BERLIN (AP) — Shares in Germany-based chemicals maker BASF have dropped after the company issued a profit warning, citing factors that included declining global auto production, weakness in the North American agricultural sector and trade conflicts. BASF shares dropped 5.1% to 59.38 euros ($66.62) in early...
Asian shares retreat ahead of Fed statement to Congress
TOKYO (AP) — Asian shares retreated Tuesday in quiet trading as investors awaited signs of what might be ahead for U.S. interest rates. Japan's benchmark Nikkei 225 was flat at 21,526.22, while Australia's S&P/ASX 200 dipped 0.3% to 6,653.60. South Korea's Kospi was marginally lower, down 0.1% at...
Saudi carrier cancels troubled Boeing 737 order for Airbus
DUBAI, United Arab Emirates (AP) — Boeing's campaign to restore the reputation of its best-selling plane after two deadly crashes suffered a blow with a Saudi airline canceling an order worth up to $5.9 billion in favor of a European rival of the U.S. manufacturer. Flyadeal, the budget airline arm of Saudi...
US stocks cap milestone-setting week with modest losses
Bond yields rose and stocks mostly bounced back from an early slide to finish with modest losses Friday, a downbeat end on Wall Street to an otherwise milestone-setting week for the broader market. The small decline snapped a six-day winning streak for the S&P 500, though the benchmark index still notched a...
Secondhand fashion site The RealReal shares rise in debut
NEW YORK (AP) — Shares of The RealReal jumped on their first day of trading Friday, as the secondhand-fashion online retailer tests investors' appetite for the staying power of online marketplaces for pre-owned discounted Gucci and other luxury goods. The San Francisco company, founded in 2011 by CEO Julie...
Tesla: Sales record within reach but deliveries are problem
DETROIT (AP) — Tesla is close to setting a quarterly record for deliveries, but the company is having trouble shipping vehicles to the right places as the second quarter comes to a close, CEO Elon Musk told workers in an internal memo. Musk wrote that the company could break the record of 90,700 deliveries...
AbbVie makes $63B bid for Botox maker Allergan
Facing competition for the world's top-selling drug, AbbVie is jumping on this year's pharmaceutical merger bandwagon with a $63 billion bid for Botox maker Allergan that's meant to spur future growth. Specialty drugmaker AbbVie said Tuesday that adding Allergan's aesthetics products and eye care and other...
Slack shows up for work and rallies in Wall Street debut
NEW YORK (AP) — Slack's newly public shares aren't slacking off. The work messaging service grew 49% in value after its stock started trading Thursday under the ticker "WORK." Slack's debut is the latest in several highly anticipated initial public offerings of stock for tech companies. While some such as...
The Latest: Slack up 49% in value after 1st trading day
NEW YORK (AP) — The Latest on Slack's IPO (all times local): 4:35 p.m. Slack's newly public shares aren't slacking off. The work messaging service's shares debuted on the New York Stock Exchange at $38.50 and rose slightly to close at $38.62. That's 49% above the $26 reference price set by the exchange...
Sotheby's sold! French-Israeli billionaire pays $3.7 billion
NEW YORK (AP) — The 275-year-old auction house Sotheby's is being sold to a French Israeli businessman for about $3.7 billion. Sotheby's, founded in London in 1744, is the oldest company traded on the New York Stock Exchange. If the deal is approved by shareholders and regulators, Sotheby's would become a...
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