Finance

FedEx Corp. posted weak quarterly results in its core express business and warned Tuesday that its profit in the year ahead will be hurt by slowing growth in the world economy and the decision to drop a contract with retail giant Amazon. The delivery company reported a quarterly loss of nearly $2 billion. After adjusting […]

Technology and internet companies led a broad slide for U.S. stocks Tuesday after discouraging economic data and cautionary remarks from the head of the Federal Reserve weighed on the market. The sell-off marked the third straight loss for the market and the biggest drop this month for the Dow Jones Industrial Average and the S&P

The U.S. government is investigating price-fixing charges against the country’s biggest poultry companies. The Department of Justice tipped its hand last week when it requested a temporary halt to discovery proceedings in a 2016 class-action lawsuit filed by food service distributor Maplevale Farms. Falconer, New York-based Maplevale Farms accuses Tyson Foods Inc., Perdue Farms Inc.,

Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates. Speaking to the Council on Foreign Relations in New York, Powell said the Fed is now grappling with the

U.S. consumer confidence dropped to the lowest level since September 2017 as heightened trade tensions apparently took a toll on Americans’ spirits. The Conference Board, a business research group, says its consumer confidence index fell to 121.5 in June from a revised 131.3 in June after rising in April and May. The June reading was

U.S. home price gains slowed for the 13th straight month in April, evidence that weaker demand is keeping prices in check even as mortgage rates fall. The S&P CoreLogic Case-Shiller 20-city home price index rose 2.5% in April from a year earlier, down slightly from an annual gain of 2.6% in March. That’s the smallest

China on Tuesday criticized Washington’s efforts to enforce U.S. law abroad following a news report three Chinese banks might be penalized over dealings with North Korea. The banks named by The Washington Post as facing possible loss of access to the U.S. financial system denied they were under investigation. The Post said a court found

Major Asian stock markets fell Tuesday as traders looked ahead to a meeting between the American and Chinese presidents amid hopes for renewed trade talks. Benchmarks in Tokyo, Shanghai, Hong Kong, Seoul and Sydney declined. Traders looked ahead to a planned meeting between Presidents Donald Trump and Xi Jinping at this week’s Group of 20

Scandal-battered Nissan won its shareholders’ approval Tuesday for a new system of committees to oversee governance and for keeping Chief Executive Hiroto Saikawa on its board. The Japanese automaker’s profits and dividends have tumbled amid a high-profile scandal involving its former chairman Carlos Ghosn. Some shareholders expressed worries about the future of the automaker. Saikawa

The U.S. Treasury’s watchdog says it will look into why the redesign of the $20 bill featuring abolitionist Harriet Tubman was delayed. The Office of the Inspector General said in a letter on Friday to Sen. Chuck Schumer, D-N.Y., that it will consider the matter as part of an audit that is about to begin.