Apple continued its slide on worries about softening demand. The tech giant tumbled 4.8 percent after Goldman Sachs equity analysts cut their price target, citing deteriorating demand, especially in China. China, the world’s largest consumer of oil, has also been weighing on commodities. The price of crude, now just above $53 a barrel, has fallen…
Goldman Sachs, which lacked the inroads into Saudi Arabia that other banks had, sent its co-president, Harvey M. Schwartz, along with the head of its Middle East and North Africa business. Endeavor, the Beverly Hills holding company for entertainment agencies, sent its co-chief executive, Ariel Emanuel, to help push along negotiations for a Saudi investment.…
SHANGHAI, China — Alibaba just made e-commerce history. With the company's massive Singles' Day celebration on 11/11 — November 11 — coming to a close, Alibaba reports that customers spent $30.8 billion online over the last 24 hours. That is a significant increase from the $25.3 billion in gross merchandise volume (GMV) Alibaba shoppers spent…
WASHINGTON (Reuters) - The U.S. Federal Reserve raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the U.S. economy would enjoy at least three more years of growth. In a statement that marked the end of the era of “accommodative” monetary policy, Fed policymakers lifted…
THE FATE of the euro was always going to depend on Italy. With annual GDP of more than €1.6trn ($1.9trn), about 15% of euro-area output and debt of nearly €2.3trn, it poses a challenge to the single currency that Europe seems unable to manage but cannot avoid. Matters are now coming to a head, as…
