Greece seeks three-year loan, pledges to enact reforms next week
Greece promised to implement pension and tax reforms as early as next week as the first step to securing a three-year rescue loan to cover debt obligations.
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NYSE trading halted; stocks down 1% as China, Greece weigh
U.S. stocks traded sharply lower on Wednesday as continued concerns about Greece and the extended selloff in the Chinese market pressured investor sentiment.
Microsoft to cut up to 7,800 jobs
Microsoft announced plans Wednesday to restructure the company’s phone hardware business and to cut up to 7,800 positions.
Greece seeks three-year loan, pledges to enact reforms next week
Greece promised to implement pension and tax reforms as early as next week as the first step to securing a three-year rescue loan to cover debt obligations.
United Airlines' U.S. takeoffs halted on ‘automation issues'
United Airlines is resuming flights after a computer fault halted all U.S. departures for about two hours, disrupting travel for thousands of passengers in the second such setback since early June. The U.S. Federal Aviation Administration disclosed the end of the grounding in a statement Wednesday after saying “automation issues” had forced a temporary suspension of U.S. takeoffs.
Major shareholders of Chinese companies pledge not to sell shares during market slump
Major shareholders of top Chinese banks including ICBC, and companies including Sinopec, have pledged to either maintain their holdings or increase their stakes in the listed firms to try and support China’s …
Microsoft to cut up to 7,800 jobs
Microsoft announced plans Wednesday to restructure the company’s phone hardware business and to cut up to 7,800 positions.
Uber Seeks Up to $1 Billion Funding for Chinese Carveout
Uber Technologies Inc., the car-booking company, is seeking to raise as much as $1 billion in funding for its Chinese business, people familiar with the matter said. Uber China has been discussing a valuation of about $7 billion to $8 billion with potential backers, the people said, asking not to be identified because the discussions are confidential. Baidu Inc., the Beijing-based Internet firm that’s already an investor in Uber’s global
Uber Seeks Up to $1 Billion Funding for Chinese Carveout
Uber Technologies Inc., the car-booking company, is seeking to raise as much as $1 billion in funding for its Chinese business, people familiar with the matter said. Uber China has been discussing a valuation of about $7 billion to $8 billion with potential backers, the people said, asking not to be identified because the discussions are confidential. Baidu Inc., the Beijing-based Internet firm that’s already an investor in Uber’s global
China bans stock sales by major shareholders for six months
China’s securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, its latest effort to stop the nation’s $3.5 trillion stock-market rout. Investors with stakes exceeding 5 percent must maintain their positions, the China Securities Regulatory Commission said in a statement. While China has already ordered government-owned institutions to maintain or boost their stock holdings, the CSRC’s directive expands the ban on