What's News: Business & Finance -- WSJ
November 20 2018 - 3:02AM
Dow Jones News
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (November 20, 2018).
Japanese prosecutors jailed auto-industry titan Ghosn, accusing
him of underreporting his pay. The move set off a leadership crisis
at the Renault-Nissan-Mitsubishi alliance.
U.S. stocks lurched lower, deepening a slump that has shaken
many investors' confidence in leading tech firms. The Nasdaq sank
3%, while the Dow retreated 1.6% and the S&P 500 fell 1.7%.
Apple's supply chain is being roiled as a result of
lower-than-expected demand for new iPhones and the company's
decision to offer more models.
The Fed's Quarles is expected to be named head of the Financial
Stability Board, a global body overseeing financial
regulations.
Aramco no longer plans to launch a bond sale to fund a roughly
$70 billion stake in Saudi Arabia's national petrochemical
firm.
Vanguard is lowering the minimum amount customers need to invest
to get cheaper prices on over three dozen of its index funds.
Over 1 million consumers canceled their cable-TV or satellite
subscriptions in the past quarter, one of the largest seasonal
drops ever.
General Electric said a top lieutenant of ex-chief Immelt is
returning to the firm to help oversee a restructuring at its power
division.
Regulators in China have approved Walt Disney's $71.3 billion
plan to acquire major assets of 21st Century Fox.
(END) Dow Jones Newswires
November 20, 2018 02:47 ET (07:47 GMT)
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