Additional legal expenses cost Wells Fargo a portion of its profit. On Tuesday, 15 October 2019, Wells Fargo & Co revealed that it saw a slip of twenty six percent in its quarterly profit. The profit slump is seen as the lender had to shell out an additional amount as legal expenses for a...

Goldman Sachs witnesses 6% overall revenue drop. Goldman Sachs Group Inc claimed underwriting related weakness as well as lower fees for “advising on deals” pushed its quarterly profits down by twenty seven percent.   In the quarter ending on September 30, 2019, Goldman saw a drop to “$1.79...

US Harley-Davidson Inc. has suspended the production and supply of its first electric motorcycle due to a problem regarding equipment for charging it. The motorcycle manufacturer’s press release said the firm suspended production of the LiveWire model in order to test and identify the cause of the...

Japan’s SoftBank Group Corp. is planning to gain control over the shared office space company WeWork Companies Inc by giving the cash strapped company a financing package that it has already prepared, said a report published by the news agency Reuters quoting sources with knowledge of the matter....

German auto maker Daimler has been ordered to recall hundreds of thousands of diesel vehicles by the federal transport authority of Germany, the KBA, over issues related to the company violating emission rules, the auto company informed the media recently.   "We estimate that the recall will...

Many were concerned that the social media company Facebook would take over digital currency market after it announced the launch of its digital currency Libra on June 18th. Facebook has already pocketed billions in users of its social media platform and billions in ads revenues.   A detailed...

An agreement between Grid Corporation of China and the United States based power company Sempra Energy is most likely in relation to a sale of Chilean business of the US firm to the Chinese company in a deal that is estimated to be worth about $3 billion, claimed a report by the news agency Reuters...

T-Mobile has reached an agreement with the Mississippi authorities regarding the proposed merger with the rival company Sprint Corporation. This arrangement could put an end to the confrontation with a coalition of US states that insist that the deal is contrary to antitrust laws. Mississippi...

Anderson Economic Group consulting company calculated that direct losses in wages by the third week of the strike reached $ 412 million. The strike of members of the United Auto Workers union, in which 48 thousand employees of General Motors took part, in fact affected a much larger number of...