Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

15 Dec 2021

European Shares Inched up as Investors Await Fed Policy Outcome

The Index Today

On Wednesday, European shares inched higher before the U.S. Federal Reserve's policy decision that is forecasted to provide a signal for a quicker withdrawal of its pandemic stimulus measures to contrast the widespread inflationary risks.

The pan-European STOXX 600 was up 0.5% at 471.84 points, as of 0831 GMT.

Among individual companies, shares of Generali (MI:GASI) rose 1.3% after Italy's top insurer pledged to return up to 6.1 billion euros ($6.88 billion) in dividends and buybacks to shareholders as Chief Executive Officer Philippe Donnet presented a new strategy. The top performer on the benchmark was support services provider DCC, which jumped 5.8%, after announcing its acquisition of Almo Corp for about $610 million and receiving a price target raise at J.P.Morgan, Reuters reported.

Shares of IAG (LON:ICAG), British Airways' parent company, dropped 1% after saying it is in advanced talks to cancel its acquisition of rival Air Europa from Spanish company Globalia.

($1 = 0.8872 euros)

Clay pottery with table linens