Finance

FedEx is severing ties with Amazon as the online retailer builds out its own delivery fleet and becomes more of a threat. The announcement Wednesday that FedEx would no longer make ground deliveries for Amazon comes two months after the delivery company said it was terminating its air delivery contract with Amazon. Amazon.com Inc. is […]

CVS Health swung back to a profit in the second quarter and raised its 2019 forecast beyond Wall Street expectations thanks partly to an influx of revenue from its recently acquired health insurance business. Shares of the drugstore chain and pharmacy benefit manager jumped early Wednesday after it detailed a better-than-expected quarterly performance. Total revenue

When the United States declared China a currency manipulator on Monday, long-building trade tensions between the world’s two largest economies spread to the combustible realm of currencies — with potentially huge consequences for the global financial system should the escalation continue. Did China allow the value of the yuan to fall against the dollar simply

Asian shares were mixed Wednesday as markets calmed after China’s decision to stabilize its currency. Japan’s benchmark Nikkei 225 lost 0.2% to 20,543.35 in afternoon trading. Australia’s S&P/ASX 200 added 0.7% to 6,521.40. South Korea’ Kospi slipped 0.2% to 1,914.65. Hong Kong’s Hang Seng dipped nearly 0.1% to 25,955.27, while the Shanghai Composite added 0.2%

The trade war between Washington and Beijing took an unexpected turn this week as China let its currency drop sharply and the United States responded by officially designating the country a currency manipulator. The confrontation underscored the Trump administration’s focus on weakness in foreign currencies — and the corresponding strength of the dollar — as

Until recently, that is. On Monday, Chinese officials let the renminbi fall to the lowest level in over a decade. On Tuesday, they set the exchange rate at a level that was weaker than Monday but nonetheless stronger than most analysts had expected. So what happens to China if the label sticks? Mainly, China must

The number of open U.S. jobs was largely unchanged in June and hiring slipped, suggesting the job market has cooled a bit. The Labor Department said Tuesday that the number of available jobs fell by just 0.5%, to 7.35 million. That’s down from a record high last November of 7.63 million, but still a healthy

Stocks edged higher on Wall Street Tuesday, a day after their worst loss of the year, as China eased some of the pressure in its trade war with the U.S. by stabilizing its currency. Technology stocks led the gains in a reversal of Monday’s slump, when they bore the brunt of the market sell-off that

China stabilized its currency Tuesday, suggesting it might hold off from aggressively letting the yuan weaken as a way to respond to U.S. tariffs on Chinese goods. The yuan declined to 7.0562 to the dollar before strengthening back to 7.0297 in the afternoon. That came a day after Beijing sent financial markets tumbling by allowing

To most people, Aug. 9, 2007, was an ordinary enough summer day. The stock market fell about 3 percent, sufficiently notable to lead the major newspapers, but hardly anything that would generate panic in the streets. Yet to many people who work in economic policy or financial markets, that day was the beginning of what