Estée Lauder shares plunge as China sales slump prompts dividend cut

China to boost financing for approved housing projects to $560 billion to counter property slump

China has announced it will expand the amount of financing available for housing projects on a “white list” to 4 trillion yuan ($562 billion), seeking to reverse a slump in the property industry

World - ABC News - October 17

Novavax says FDA put hold on combination Covid-flu shot and influenza vaccine; shares plunge

The so-called clinical hold is due to a single report of nerve damage in a patient who received the combination shot in a phase two trial.

Business - CNBC - October 16

Air taxi firm Lilium's shares plunge 61% after company says main subsidiaries will file for insolvency

Shares of Lilium tanked Thursday after the air taxi firm said in a filing that its two main subsidiaries plan on filing for insolvency in the coming days.

Business - CNBC - October 24

Super Micro shares plunge 33% as auditor resigns after raising concerns months earlier

Ernst & Young resigned over accounting and governance concerns at the buzzy AI firm, which has faced regulatory scrutiny before.

Business - CNBC - Yesterday

PPG to Cut 1,800 Jobs, Shrink Costs With Sale of Architectural-Coatings Biz

PPG agreed to sell its architectural-coatings business in the U.S. and Canada to private-equity firm American Industrial Partners for $550 million, and outlined cost and job cuts.

Business - The Wall Street Journal - October 17

Huntington Ingalls' Shares Tumble on Outlook Cut, Navy Contract Delay

The biggest U.S. military shipbuilder pulled its five-year free cash-flow forecast amid uncertainty about a submarine contract, supply-chain disruption and the loss of experienced workers.

Business - The Wall Street Journal - 8 hours ago

Global public debt to hit $100tn this year, says IMF; Boeing to raise up to $25bn to shore up balance sheet – business live

Rolling coverage of the latest economic and financial news, as IMF warns that future debt levels could be higher than currently projected. Cooling labour market adds to Reeves’s tax-raising ...

World - The Guardian - October 15

Reeves expected to focus rise in capital gains tax on share sales

Chancellor likely to increase CGT in October 30 Budget as part of efforts to close £40bn funding gap

Business - Financial Times - October 16

Starbucks shares slide after coffee chain says sales fell again, suspends outlook

The company's same-store sales slid for the third consecutive quarter, fueled by a 10% tumble in traffic to its North American stores.

Business - CNBC - October 23

Tesla shares leap 22% after Musk predicts sales rebound

EV maker adds more than $150bn in market value after billionaire says sales may increase as much as 30% next year

Business - Financial Times - October 24

Boeing’s record $21bn fundraising boosts hopes of avoiding downgrade

Aircraft maker is racing to ease pressure on its balance sheet exacerbated by a labour strike

Business - Financial Times - 2 days ago

Chipotle misses revenue estimates as same-store sales growth disappoints

Chipotle's same-store sales rose 6% in the third quarter, just missing Wall Street's expectations.

Business - CNBC - Yesterday

Shares in weight-loss drugmaker Eli Lilly fall on disappointing sales

US group revises down upper end of full-year revenue estimates

Business - Financial Times - Yesterday

China cuts benchmark lending rates by 25 basis points

The move was expected. China's central bank governor indicated last week that the loan prime rates would be lowered.

Business - CNBC - October 21

China cuts interest rates in battle to hit year-end growth target

Beijing steps up efforts to reboot economy amid mounting pressure to achieve goal of about 5% growth

World - Financial Times - October 21

IMF warns on China's property market worsening as it cuts country's growth outlook

In a report published Tuesday, the IMF trimmed its forecast for growth in China for this year to 4.8%, 0.2 percentage points lower than in its July projection.