What's News: Business & Finance -- WSJ
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 (August 13, 2020).
China's Xi is laying out a major initiative to accelerate the
country's shift toward more reliance on its domestic economy, as
the world remains in recession and tensions with the U.S.
A steady rally in stocks has pushed the S&P 500 to the cusp
of its first record close since the pandemic brought the economy to
Fannie and Freddie said they would impose a new fee to insulate
themselves from losses on refinanced mortgages they guarantee.
Goldman is bidding to replace Capital One as GM's credit-card
issuer. Barclays is also in the running.
Lyft reported a dramatic drop in riders and revenue for the
The SEC and FBI are examining investments sold by the online
Cisco said it would adjust investment plans and pursue deep cost
cuts amid shifting customer priorities.
Simon and Brookfield have teamed up and are in advanced talks to
buy J.C. Penney's retail operations.
U.S. consumer prices rose in July, a sign of firming inflation
as demand for goods rebounded.
The U.K. economy shrank 20.4% in the second quarter, taking the
worst hit from the coronavirus in Europe.
Tencent played down threats from potential U.S. curbs on its
WeChat app as the Chinese firm posted better-than-expected
(END) Dow Jones Newswires
August 13, 2020 02:47 ET (06:47 GMT)
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