A broad sell-off in technology companies pulled U.S. stocks sharply lower Monday, knocking more than 600 points off the Dow Jones Industrial Average. The wave of selling snared big names, including Apple, Amazon and Goldman Sachs. Banks, consumer-focused companies, and media and communications stocks all took heavy losses. Crude oil prices fell, erasing early gains and extending a losing streak to 11 days.
BRUSSELS (AP) - Britain and the European Union appeared to be inching toward agreement on Brexit on Monday, but British Prime Minister Theresa May faced intensifying pressure from her divided Conservative government that could yet scuttle a deal.
NEW YORK (AP) - Many small and independent retailers who are holding Small Business Saturday shopping events Thanksgiving weekend are banding together with others, believing that there's strength in numbers.
Athenahealth shares soared Monday after the struggling medical billing software maker received a $5.7 billion cash buyout offer. Veritas Capital and Evergreen Coast Capital plan to give athenahealth shareholders $135 per share in a deal that will take the company private. That represents a roughly 12 percent premium over the closing price of athenahealth shares on Friday.
NEW YORK (AP) - The top executive at the New York cosmetics maker Coty is leaving less than a week after revealing that significant supply chain problems sapped revenue during the first quarter. The company said Monday that CEO Camillo Pane, who led the company for two years, resigned for family reasons. Pierre Laubies, who last ran JDE, a beverage company, takes over immediately. He will also have a seat on the board.
SINGAPORE (AP) - Global markets were subdued Monday as the price of oil rose and investors looked to the release of economic data by the U.S. and China that could show the effects of a trade dispute between the world's two biggest economies.
TOKYO (AP) - Japanese technology company SoftBank Group Corp. will carry out an initial public offering of its Japanese mobile subsidiary, set for Dec. 19, in what will likely be one of the world's biggest IPOs. The Tokyo Stock Exchange approved the listing of 1.6 billion shares of SoftBank Corp. Monday, at 1,500 yen ($13) a share, raising potentially more than 2 trillion yen ($20 billion).
Internet traffic hijack disrupts Google services Tech giants slide, pulling US stock market sharply lower Fires put pressure on California utilities despite new law EU, UK inch closer to a deal as Brexit hangs in the balance Abu Dhabi summit: Oil production cuts may be necessary Southeast Asian…
Momentum seems to be growing among major oil producers to reduce output in an effort to end a slump in prices. Saudi Arabia's energy minister said Sunday that the kingdom will reduce exports by about 500,000 barrels a day from November to December. Khalid al-Falih made the comment at a meeting of oil producers in Abu Dhabi. Russian oil minister Alexander Novak said his country is open to cuts if they are approved by a coalition of producers including OPEC.