President Trump formally pulled the U.S. out of the Trans-Pacific Partnership, the 12-nation trade agreement negotiated by Barack Obama and championed by businesses but that fell out of favor in both political parties.
Philips said it is in talks with the U.S. Department of Justice over manufacturing procedures in its defibrillator business, following an earlier FDA warning, adding that there could be a “meaningful impact” on the operations.
Chinese e-commerce giant Alibaba Group Holding said third-quarter revenue rose 54% to $7.7 billion, as Chinese consumers turned to the internet to buy everything from apparel to home appliances and food.
A rival air-bag maker bidding for Takata accused the company of rigging a monthslong auction, ratcheting up tensions with the Japanese supplier as it races to find a financial backer and settle significant debts stemming from a deadly safety crisis.
Bernie Ecclestone, who turned Formula One from an elite motor racing series into a global media rights empire over four decades, stepped away from his role as the sport’s “supremo” as Liberty Media completed its takeover, appointing Chase Carey as chief executive.
For CEOs, President Trump’s cabinet picks and his open-door policy for business leaders during the transition have sent the message that their stock is rising in Washington, with some betting that they will have a stronger voice in running the country.
President Donald Trump started his first full workday at the White House focused on the economy, trade and jobs, withdrawing from the TPP agreement and promising to tax firms that move operations overseas.