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Railroad operator CSX Corp. CSX, -3.39% said Thursday it has named former Ford Motor Co. F, +1.57% executive Joseph R. Hinrichs as chief executive and president effective Sept. 26. Hinrichs will replace James M. Foote, who is retiring and will also step down from the board. The executive was most recently president of Ford’s automotive […]
Oil futures declined on Thursday, with U.S. prices settling at their lowest in a week. “Oil fundamentals are still mostly bearish as China’s demand outlook remains a big question mark and as the inflation fighting [Federal Reserve] seems poised to weaken the U.S. economy,” said Edward Moya, senior market analyst at OANDA. October WTI crude […]
Corebridge Financial Inc. CRBG, -1.26%, the life insurance unit of American International Group Inc. AIG, +0.27%, received a lackluster reception in its public debut, as the stock opened 2.4% the initial public offering price. The company said overnight that it’s IPO priced at $21 a share, at the low end of the expected range, as […]
Shares of Adobe Inc. ADBE, -16.98% sank 3.8% in premarket trading Thursday, after The Wall Street Journal reported that the digital media and publishing company was in advanced talks to buy Figma Inc. in a cash and stock deal valued at $20 billion. Figma is a San Francisco-based design software company founded in 2012. Citing […]
Citigroup Inc. C, -0.01% is due to submit Thursday to federal regulators a new plan for addressing deficiencies in its risk management infrastructure, The Wall Street Journal reported Thursday. The plan includes company milestones the Federal Reserve Bank and the Office of the Comptroller of the Currency (OCC) can review to judge the bank’s progress, […]
American International Group Inc. AIG, +0.37% said late Wednesday it priced the initial public offering of its life insurance unit Corebridge Financial Inc. CRBG, -1.36% at $21 a share, the low end of its price range. The company sold 80 million shares to raise $1.68 billion, marking the biggest IPO of the year to date. […]