Biogen scraps two Alzheimer drug trials, wipes $18 billion from market value

Latest Business News - 47 min 52 sec ago
Biogen Inc and partner Eisai Co Ltd are ending two late-stage trials of their experimental Alzheimer's disease drug aducanumab, a major setback in the quest to find a treatment for the mind-wasting disease and a blow to Biogen, which lost more than $18 billion of its value on Thursday.

Levi Strauss shares surge 31 percent in stock market return

Latest Business News - 48 min 20 sec ago
Shares in Levi Strauss & Co surged 31 percent in their debut on Thursday, giving the jeans maker a market value of $8.7 billion and suggesting strong investor appetite before much-awaited listings from Lyft and Uber.

Levi Strauss valued at $6.6 billion as IPO prices above target

Latest Business News - 1 hour 20 min ago
Levi Strauss & Co fetched a higher price than expected in its initial public offering (IPO) on Wednesday, selling $623.3 million in shares as the U.S. jeans maker looks to return to the stock market after 34 years as a family-owned company.

Fund managers skittish over Levi's long-term growth prospects

Latest Business News - 1 hour 23 min ago
Levi Strauss & Co's is betting it can convince investors there is still plenty of global growth left for the 165-year old company, but fund managers fret the iconic blue jeans maker's stock may be too pricey to generate a decent return.

Wall Street powers world stocks; Brexit weighs on sterling

Latest Business News - 1 hour 47 min ago
A measure of stocks across the globe rose in a volatile session on Thursday, led by gains on Wall Street, while the dollar rallied as traders continued to digest the Federal Reserve's uber-dovish stance.

China's Geely Auto promises more models to support sales in uncertain domestic market

Latest Business News - 2 hours 1 min ago
China's Geely Automobile Holdings said on Thursday that it will invest more in new energy vehicles and higher-end models after forecasting flat sales in 2019 due to uncertainty about domestic demand.

Bank of England to set new rules on climate risk: Carney

Latest Business News - 2 hours 2 min ago
The Bank of England will soon spell out how it wants banks, insurers and investment companies to manage the financial risks from climate change, Governor Mark Carney said on Thursday.

Deutsche Bank CEO sees strong case for Commerzbank merger - source

Latest Business News - 2 hours 2 min ago
Deutsche Bank chief executive Christian Sewing believes there is a strong case for a merger with Commerzbank, a person with direct knowledge of his thinking said.

Ethiopia crash captain did not train on airline's MAX simulator - source

Latest Business News - 2 hours 3 min ago
The captain of a doomed Ethiopian Airlines flight did not get a chance to practise on his airline's new simulator for the Boeing 737 MAX 8 before he died in a crash with 157 others, a pilot colleague said.

Tech dominates Wall Street rally in wake of dovish Fed statement

Latest Business News - 2 hours 23 min ago
Technology stocks surged on Thursday, leading Wall Street higher as jitters over the Federal Reserve's warning of an economic slowdown were allayed by upbeat economic data.

German conservatives eye sanctions for EU debt ceiling violators

Latest Business News - 2 hours 25 min ago
German conservatives aim to tighten enforcement of the European Union's debt ceiling target, under which public debt amounts to no more than 60 percent of national output, according to the political bloc's draft programme for European elections.

Oil slips but holds near 2019 peak as supplies tighten

Latest Business News - 3 hours 53 min ago
Oil fell nearly 1 percent on Thursday, but held near 2019 highs, supported by a tightening of global stocks, OPEC production cuts and U.S. sanctions on key producers Iran and Venezuela.

Rising no-deal Brexit fears pile pressure on pound

Latest Business News - 4 hours 3 min ago
The pound plunged on Thursday and was heading for its biggest one-day fall this year on growing fears of a "no-deal" Brexit should British lawmakers hold firm in their rejection of Prime Minister Theresa May's EU divorce deal.

U.S. labour market solid; manufacturing sector slowing

Latest Business News - 5 hours 21 min ago
The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to still strong labor market conditions, though the pace of job growth has slowed after last year's robust gains.

Ford names Amazon veteran Tim Stone as CFO

Latest Business News - 5 hours 32 min ago
Ford Motor Co on Thursday named Inc veteran Tim Stone as chief financial officer, the automaker's first external hire for the role in seven decades.

Strong rupee pushes India rice prices to seven-month high, dampening exports

Latest Business News - 7 hours 42 sec ago
Rice export prices in India rose to their highest level in more than seven months as the rupee appreciated, denting demand, while trading companies in Vietnam increased domestic buying to fulfil new overseas deals.

Sri Lanka says Oman Oil still keen on refinery project

Latest Business News - 7 hours 3 min ago
The Sri Lankan government said on Thursday that Oman's government-controlled Oman Oil Co has made clear that it is interested in taking a 30 percent stake in a new oil refinery project on Sri Lanka's south coast.

Subsidiary of debt-laden IL&FS misses payment due to "insufficient funds"

Latest Business News - 8 hours 9 min ago
India's IL&FS Transportation Networks Ltd said in a filing on Thursday that it missed some 209 mln rupees ($3 million) in principal and interest payments due on March 18 because of "insufficient funds."

Bank of England keeps rates on hold as businesses brace for no-deal Brexit

Latest Business News - 8 hours 38 min ago
The Bank of England kept interest rates steady on Thursday and said most businesses felt as ready as they could be for a no-deal Brexit that would likely hammer economic growth and jobs.

No-deal Brexit would hurt EU significantly - Barclays

Latest Business News - 10 hours 22 min ago
A no-deal Brexit would significantly harm the European Union and a deal on financial services between Britain and the EU is likely whatever form Brexit takes, Barclays Chairman John McFarlane said on Thursday.