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Business News Headlines

Thirty years ago this week, Wall Street slid into the abyss

Thirty years ago, before heading to work at the New York Stock Exchange, Peter Kenny left his home in lower Manhattan and made a detour to the nearby Our Lady of Victory church to pray to St. Jude, the Roman Catholic patron saint of desperate and lost causes.

Novartis to shut U.S. generics plant, cut 450 jobs

Swiss drugmaker Novartis is to cut 450 jobs in the United States over the next two years as it gradually shuts a generics manufacturing plant in Colorado and discontinues some products in the face of intense price pressures.

Airbus A330neo takes off on maiden flight

Airbus on Thursday began the maiden flight of its A330neo jetliner, an upgraded version of its profitable A330 line designed to sharpen competition with the latest version of Boeing's 787 Dreamliner.

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Senate poised for crucial vote related to tax reform measure

WASHINGTON President Donald Trump's drive to overhaul the U.S. tax code headed for a pivotal moment on Thursday, with Senate Republicans poised to approve a budget measure that would help them pass tax legislation without Democratic support.