International News
Nestle sells US confectionery business to Ferrero in $2.8bn cash deal
Nestle has agreed to sell its US confectionery business to Italian group Ferrero for $2. 8bn in cash.
Skanska to shift focus towards UK business
Swedish construction and project development company Skanska announced on Wednesday that it planned to shift its focus towards its business in the UK, laying off 3,000 of its employees across the globe as part of an effort to improve profitability following a strategic review initiated in 2017.
Bitcoin's 50% plunge and Ripple effect in cryptocurrencies rout
Bitcoin, Ethereum and other cryptocurrencies have plunged to four-week lows due to a loss of confidence sparked by regulatory proposals in South Korea and the unknown result of the expiry of initial futures contracts.
Europe close: Stocks mostly lower despite dip in single currency
European stocks were mixed on Wednesday as inflation remained subdued and European Central Bank talk pushed the single currency lower.
US industrial production, capacity in use jump in December
Industrial production in the States surged ahead last month, boosted by sharply higher output from both mining and utilities.
US open: Stocks in the black as technology gains offset weak banks
US stocks rose in early trade on Wednesday as strength in the technology sector and a solid reading on industrial production helped to offset a fall in banking shares after quarterly updates from Bank of America and Goldman Sachs, as investors eyed speeches by Federal Reserve officials.
NAHB housing market index slips to 72 in January, as expected
Sentiment among US housebuilders deteriorated a little as expected in January, according to data released on Wednesday.
Goldman Sachs posts first quarterly loss since 2011
US-banking giant Goldman Sachs beat Wall Street estimates with the release of its fourth-quarter profits on Wednesday, but sweeping tax code changes signed into law by the President in December dragged the group to its first quarterly loss in six years.
Australia lodges WTO complaint against Canada
Australia filed a trade complaint against Canada on Tuesday, accusing the North American nation of placing "discriminatory" regulations on the sale of wine imported from abroad.
Bank of America Q4 earnings beat expectations despite tax charge
Bank of America posted better-than-expected fourth-quarter earnings on Wednesday, even as it took a big hit from US tax reforms.
Drax to convert fourth biomass unit by second half of this year
Drax said on Wednesday that it plans to complete work on the conversion of a fourth unit to biomass in the second half of this year, returning it to service in late 2018.
Eurozone inflation remains subdued to keep ECB on toes
Eurozone inflation was confirmed at the subdued level of 1. 4% last month, keeping the issue at the forefront of the European Central Bank's thoughts.
US pre-open: Stocks to rebound as investors eye more bank earnings
US stocks looked set for a firmer open on Wednesday, rebounding from losses in the previous session as investors eyed earnings from the likes of Bank of America and Goldman Sachs and a series of speeches by Federal Reserve officials.