ICBC Fined $32 Million by New York's Financial Regulator and Fed for Compliance Failures

Industrial & Commercial Bank of China will pay about $32 million to resolve investigations into alleged compliance problems at the bank's New York branch. 


 
Ford Cuts Lightning Output in Latest Sign of EV Downshift

The truck has been a central part of the automaker's EV strategy in the past few years, and the plant itself has been in the spotlight-even receiving a visit from President President Biden. 


 
Spirit Airlines Raises Outlook, Looks to Refinance Debt Following Blocked JetBlue Deal

Shares soared as the budget airline guided for a better-than-expected quarter. 


 
Sports Illustrated Lays Off Most of Its Staff, Putting Brand's Future in Jeopardy

Many staffers were told they were being laid off on Friday, according to the union of the publication. 


 
Wayfair Boss, Weeks After Viral Memo, Cuts 13% of Staff

Chief Executive Niraj Shah says the online retailer went "overboard" in hiring. 


 
Tata Steel to Cut Up to 2,800 Jobs in U.K.

Tata Steel said it expects up to 2,800 employees will be affected from a restructuring of its U.K. business, in a move to reverse more than a decade of losses and transition to more sustainable steel production at its Port Talbot site in South Wales. 


 
Apple Offers to Open Mobile Payments to Third Parties Amid EU Antitrust Case

The tech giant's proposal is aimed at allaying competition concerns from European regulators. 


 
Travelers Stock Pops After Earnings Beat

Core earnings of $7.01 a share beat Wall Street estimates of $5.10 a share. 


 
SLB Tops Earnings Estimates and Boosts Dividend. International Growth Is Strong.

The oil services provider posts adjusted earnings of 86 cents a share, beating analysts' forecasts by 2 cents. 


 
BASF Results Miss Forecasts

BASF reported preliminary figures for 2023 that were below the company's guidance and consensus expectations, hit by write-downs and sales of lower-margin products.


(END) Dow Jones Newswires

01-19-24 1515ET