Economy News

February 19, 2020

DuPont Co. said Tuesday that its executive chairman is assuming the duties of CEO. Ed Breen will replace Marc Doyle as chief ...

February 18, 2020

PG&E banking on big profits after utility leaves bankruptcy

Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off ...

February 18, 2020

A rare miss for Walmart to end the year

Walmart reported disappointing fourth-quarter profits and sales after a sluggish and shortened holiday shopping season.

February 18, 2020

Death toll from toxic gas leak rises to 14 in Pakistan

A gas leak in the southern port city of Karachi has killed 14 people and sickened hundreds more, Pakistani health officials ...

February 18, 2020

Elderly, halfhearted Florida bank robber won't be jailed

A 74-year-old Florida man whose halfhearted attempt at bank robbery was caused by depression after his wife's death will not ...

February 18, 2020

Franklin Resources buying Legg Mason for $4.5 billion

Franklin Resources is buyingrival investment managerLegg Mason for $4.5 billion, the latest shakeup in an industry grappling ...

February 18, 2020

Poland's miners protest coal imports seen as threat to jobs

Miners in southern Poland worried that massive coal imports will eliminate their jobs on Tuesday blocked railway tracks on ...

February 18, 2020

HSBC cuts headcount by 35,000 in deep overhaul

Europe's biggest bank, HSBC, will shed some 35,000 jobs as part of an overhaul to focus on faster-growing markets in Asia and ...

February 18, 2020

Firm loses compensation claim vs. Norway for spy recruitment

A Norwegian concrete company on Tuesday lost its compensation case against its home country, claiming it suffered financial ...

February 18, 2020

Nissan shareholders furious at Ghosn scandal, dismal results

Nissan shareholders vented their outrage at the Japanese automaker's top management Tuesday for crashing stock prices, zero ...

February 18, 2020

Italian bank Intesa SanPaolo offers to buy smaller rival

Italian bank Intesa SanPaolo announced Tuesday a 4.9 billion-euro ($5.3 billion) takeover offer for smaller rival UBI Banca ...

February 18, 2020

Pier 1 files for bankruptcy protection amid online challenge

Pier 1 Imports Inc. — the once-trendy supplier of home goods like papasan chairs and throw pillows — filed for bankruptcy ...

February 17, 2020

Former UAW President Owen Bieber dies aged 90

Owen Bieber, who led the United Auto Workers union from the auto industry's dark days of the early 1980s to the prosperity ...

February 17, 2020

UK govt adviser quits amid furor over comments on IQ, race

An adviser to British Prime Minister Boris Johnson resigned on Monday amid fierce criticism of his past comments linking ...

February 17, 2020

Europe's busiest airport hit by a second day of disruptions

Europe’s busiest airport suffered the knock-on effects Monday of technical issues that disrupted travel over the weekend.

February 17, 2020

Port operator DP World to delist from Dubai stock exchange

Port operator DP World said Monday it will delist from the Nasdaq Dubai stock exchange, returning the company to full ...

February 17, 2020

GM plans to pull out of Australia, New Zealand and Thailand

General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't ...

February 17, 2020

Toxic gas leak kills 5, sickens dozens in Karachi port city

A toxic gas leak killed five people and sickened dozens of others in a coastal residential area in Pakistan's port city of ...