Snap Inc. is facing scrutiny from regulators about its disclosures to investors ahead of its 2017 initial public offering. The disappearing-messages company has received subpoenas and requests for information from the Justice Department and Securities and Exchange Commission, a spokesman for Snap said Tuesday. Snap SNAP, +0.90% said in a statement it believes the → Read More
Asian stock markets were posting modest losses in early trading Wednesday, after oil prices tumbled 7% Tuesday, marking their 12th straight session of losses. Crude prices CLZ8, -0.40% were again down slightly in early trading. Japan’s Nikkei NIK, +0.31% traded up and down, and was last up 0.3%. The dollar USDJPY, +0.11% → Read More
SurveyMonkey Inc.’s first quarter as a public company was a bit better than expected, as the “freemium” survey software company gained more corporate customers, but did little to answer one big question. Is a company devoted to software that allows customers or employees to take surveys big enough to warrant being an independent public company, → Read More
Electrical power equipment owned by California’s largest utility company appeared to have malfunctioned in an area where the state’s deadliest wildfire started last week, according to a PG&E Corp. securities filing. The cause of the Camp Fire, which has burned through some 117,000 acres in Northern California’s Butte County, remains under investigation. At least 42 people have died → Read More
The head of the International Monetary Fund believes it’s time for global central banks to explore the idea of a state-backed digital currency. “I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy,” said Christine Lagarde in prepared remarks → Read More
WASHINGTON — President Donald Trump on Tuesday nominated retired four-star Army Gen. John Abizaid, who oversaw U.S. Central Command during the initial years of the Iraq War, to be ambassador to Saudi Arabia. U.S.-Saudi ties have been strained by the killing of dissident journalist Jamal Khashoggi, which the kingdom has admitted. Trump has not yet → Read More
TOKYO — The Japanese economy contracted during the three months through September as a series of natural disasters hurt exports and spending by tourists. The world’s third-largest economy shrank at an annualized pace of 1.2% in the third quarter of 2018 following a 3% expansion in the previous quarter, government data showed Wednesday. Economists polled → Read More
U.S. aviation regulators, responding to last month’s Lion Air jet crash, launched a high-priority probe of the safety analyses Boeing Co. has performed over the years. Regulators are interested in what information Boeing BA, -2.11% distributed to airlines regarding potential hazards associated with a new automated flight-control system introduced on the latest versions of → Read More
The most hyped NFL game of the year — a potential electric Super Bowl preview — has a new, safer venue. Monday night’s Los Angeles Rams-Kansas City Chiefs matchup, which was slated to take place in Mexico City, is being moved to Los Angeles, ESPN first reported Tuesday. The league and its players had been → Read More
Rampant expectations for a global oil supply glut sent the U.S. benchmark to its lowest finish of the year. December West Texas Intermediate crude CLZ8, -7.39% dropped $4.24, or 7.1%, to settle at $55.69 a barrel on the New York Mercantile Exchange on Tuesday, marking a historic 12th straight decline, deepening a descent into a → Read More