Small businesses affected by the government shutdown have to cope with a drop in revenue or their inability to get the help and service they need from federal agencies
U.S. stocks finish after as Goldman Sachs has its best day in 10 years and Bank of America rises by the most in seven years as banks and other financial companies report strong fourth-quarter results
Some of the biggest analyst calls of the day include: Snap, after a couple of notes citing CFO Tim Stone’s abrupt departure from the company. Nordstrom - after the stock was downgraded at Goldman Sachs - and removed from the firm’s America’s Conviction List. RBC on Netflix noting the move could amounts to $1.2B In incremental profit. Jennifers Rogers, Myles Udland and Yahoo Finance's Editor-in-Chief, Andy Serwer discuss.
Apple will cut back on hiring for certain divisions as the company re-adjusts its plans in the face of slowing iPhone sales, according to a Bloomberg report on Wednesday. CEO Tim Cook told employees during a meeting earlier this month that Apple would reduce hiring for certain unspecified groups, but said the company would not impose a hiring freeze, Bloomberg reported citing anonymous sources. Cook said he still had not decided which groups within Apple would be affected.
According to Reuters, the sterling is trading higher after British Prime Minister Theresa May’s government won a vote of confidence in Parliament. But the sterling's gains on the day are marginal, increasing by one-tenth of a percent, and trading at $1.28. MSCI's all country world stock index also rose, but by a margin of four-tenths of a percent. In Europe, the Stoxx 600 index hardly blinked at the Brexit drama in London, gaining half a percent on the day. And the euro was trading down one-tenth of a percent, falling to $1.14.
Pacific Gas & Electric Co. pending bankruptcy is raising concern that prices will rise and victims of wildfires who are suing the nation's largest utility won't get all the money they may be owed
Global stock markets are mostly higher after Chinese officials set out plans to support the world's second-biggest economy through a slowdown and trade war with the U.S.
According to Automotive News, France's finance minister has called for the ouster of Renault CEO Carlos Ghosn. The French government is the one of Renault's key shareholders, holding a 15-percent stake int he auto manufacturer. Finance Minister Bruno Le Maire called for Ghosn to be dismissed as Renault's CEO following allegations of financial misconduct. The disgraced auto executive was arrested in Japan late last year following a two-month investigation that included Renault's automotive allies, Nissan and Mitsubishi.
The U.S. Forest Service has built a new corral in California that could allow it to bypass federal restrictions and lead to the slaughter of wild horses.