China’s factory activity shrinks for fourth month as trade woes deepen

BEIJING (Reuters) – Factory activity in China shrank in August for the fourth month in a row as the United States ramped up trade pressure and domestic demand remained sluggish, pointing to a further slowdown in the world’s second-largest economy. FILE PHOTO: A worker welds automobile parts at a workshop Continue Reading

UBS hires former Credit Suisse star Khan as part of broader shakeup

ZURICH (Reuters) – Switzerland’s biggest bank UBS on Thursday appointed former Credit Suisse manager Iqbal Khan to co-lead its flagship wealth management business, as part of a broader shake-up of its executive board. FILE PHOTO: Iqbal Khan, CEO International Wealth Management of Swiss bank Credit Suisse attends the company’s annual Continue Reading

Thiel’s Founders Fund sells remaining Facebook shares

FILE PHOTO: PayPal co-founder and Facebook board member Peter Thiel delivers his speech on the U.S. presidential election at the National Press Club in Washington, U.S., October 31, 2016. REUTERS/Gary Cameron (Reuters) – Early Facebook Inc (FB.O) backer, Founders Fund, has sold all of its holdings in the social media Continue Reading

Moneysaving 101: Four ways to cut college textbook costs

(The writer is a Reuters contributor. The opinions expressed are his own.) FILE PHOTO: Books are piled-up in this illustration photo September 13, 2018. REUTERS/Thomas White/Illustration By Chris Taylor NEW YORK (Reuters) – While sky-high U.S. college tuition might be the headline number, here is a sneaky little figure that Continue Reading

Saudi Aramco asks banks to pitch for roles in planned IPO: sources

DUBAI (Reuters) – Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with direct knowledge of the matter said. FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Continue Reading

S&P, Dow rise as U.S. retail sales data counters recession fears

(Reuters) – The S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears and simmering U.S.-China trade tensions. The Dow Jones Industrial Average rose 99.9 points, or 0.39%, to 25,579.32, the S&P 500 gained 7.02 points, or 0.25%, to Continue Reading