BMW (BMWG.DE) has hired Ferrari's former chief engineer as it seeks to strengthen its technical prowess amid intensifying competition with rival German luxury carmakers Audi and Mercedes-Benz.
Industry
Drop in jobless claims points to labor market strength
The number of Americans filing new claims for unemployment benefits fell last week to nearly its lowest level since before the 2007-09 recession, a sign of growing steam in the U.S. labor market.
Sunny September sales unlikely to brighten retailers' holiday prospects
A resurgence in spending helped by an improving U.S. economy bolstered back to school season sales for retailers in September, but stagnant wages may force more discounting in the coming months, keeping pressure on margins.
Symantec to split into security and storage software companies
Norton antivirus maker Symantec Corp (SYMC.O) will split into two publicly traded companies, one selling security software and the other providing data management, potentially making itself more attractive to suitors.
Wall Street sells off on growth concerns; volatility picks up
The S&P 500 on Thursday posted its largest percentage decline in six months on concerns about the strength of the global economy and its effect on corporate earnings.
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Alcoa Inc (AA.N) reported a stronger-than-expected increase in third-quarter profit on Wednesday as higher aluminum prices and lower costs drove a recovery in its business unit that produces aluminum.
Brazil, Argentina and the United States have tightened port entry procedures for ships that have sailed from West Africa in a bid to control the potential spread of the deadly Ebola virus.
More than 1,000 employees went on strike at a China factory owned by Hon Hai Precision Industry Co Ltd (2317.TW), the world's biggest electronics contract manufacturer, demanding higher wages and better benefits, a labor watchdog said on Thursday.
Federal Reserve officials want to tie an interest-rate rise to U.S. economic progress, but the minutes of their last policy meeting show they are struggling with how to come to grips with the dual threats of a stronger dollar and a global slowdown.
Gap Inc (GPS.N) Chief Executive Glenn Murphy will retire in February and hand over the reins of the apparel retailer to its digital business head Art Peck, as the company looks to tap customers' increasing preference for online shopping.
Asian shares bounced back and the dollar fell on Thursday after minutes of the U.S. Federal Reserve's latest policy meeting showed policymakers have some concerns about downside risks to the global economy and the dollar's strength.
A major collection of modern and contemporary art assembled by two of the 20th century's most prominent collectors is expected to fetch more than $85 million when it hits the auction block next month, Sotheby's said on Monday.
Growth in China's services sector weakened slightly in September as new business cooled, a private survey showed on Wednesday, reinforcing signs of a slowdown in the world's second-largest economy that could prompt more stimulus measures.
A much-needed pruning of banks across the world could stifle lending and dampen economic recovery, the International Monetary Fund said on Wednesday.
