Markets

Wells Fargo & Co agreed to pay US$2.1 million in fines and restitution to settle charges it failed to properly supervise brokers' recommendations that customers sell variable annuities and use proceeds to buy other investments, the Financial Industry Regulatory Authority said on Wednesday.

Mercedes-Benz engineers are striving to meet every definition of comfort in the new S-Class sedan as they try to steal a march on rival Tesla, which wowed audiences with its "fart mode."

Macy's Inc reported better-than-expected quarterly sales on Wednesday, as shoppers stuck indoors due to the COVID-19 pandemic bought more apparel using the department store chain's app and website.

Oracle Corp's long-running legal challenge to how the Pentagon set up its US$10 billion JEDI cloud computing contract has been rejected by a U.S. appeals court.

An Indian parliamentary panel on information technology will summon Facebook Inc executives again as issues regarding the social media giant's content regulations policies could not be settled on Wednesday, the panel's chief said.

BANGKOK: A selloff in the Thai baht, underperforming stocks and pressure on the bond market reflect growing concern from global investors over political instability and the growth outlook in Southeast Asia's second-biggest economy, analysts and fund managers say. Thailand suffered its deepest ...

S&P 500 futures rose on Wednesday for the ninth time in past ten sessions helped by a rally in tech stocks, as focus turns to economic data that is likely to show a jump in private jobs in August.

Ford Motor Co said on Wednesday is targeting the elimination of 1,400 U.S. salaried jobs by year end as part of its ongoing, multiyear US$11 billion restructuring.

BRUSSELS: The pressure from the COVID-19 pandemic on government finances might help bring about a stalled international agreement on how to tax digital giants like Google, Amazon, Facebook, Apple or Microsoft, German Finance Minister Olaf Sholz said on Wednesday. Scholz told the economic committee ...

STOCKHOLM: Ingka Group, the owner of most IKEA stores, plans 600 million euros (US$712 million) in sustainability-related investments over the next 12 months as the world's biggest furniture brand aims to be climate positive throughout its value chain by 2030. The plan is to spend a third on ......