Strong U.S. consumer banking gave Citigroup Inc. a boost in the second quarter. Citigroup said Monday its second-quarter net income rose 7% from a year ago. Quarterly profit was $4.8 billion, up from $4.5 billion. Per-share earnings were $1.95. Analysts had expected $1.81 a share. Revenue at the...

Shares of Ford Motor Co. (F) rallied 1.4% in premarket trading Friday, after Germany-based automaker Volkswagen AG confirmed that it will invest $2.6 billion in Ford's self-driving services (SDS) partner Argo AI, as part of an expansion of the company's alliance to include electric vehicles. As...

The sprawling, multibillion-dollar Malaysian development fraud scandal that has toppled a prime minister and stretched from Hollywood to Wall Street is threatening to implicate another major global financial institution: Deutsche Bank AG. The U.S. Justice Department is investigating whether the...

Fed boss says bank will 'act as appropriate to sustain expansion' Federal Reserve Chairman Jerome Powell said the U.S. is suffering from a bout of uncertainty caused by trade tensions and weak global growth, but he pledged to do whatever it takes to shore up the economy in what Wall Street took...

Virgin Galactic, Richard Branson's space-tourism venture, is preparing for liftoff as a publicly traded company. Social Capital Hedosophia Holdings Corp., a special-purpose acquisition company, or SPAC, is planning to invest roughly $800 million in Virgin Galactic for a 49% stake, according to...

Deutsche Bank AG was quick to start firing staff from its investment bank on Monday. Its investors will need to wait much longer to discover how the German lender's radical restructuring will affect them. Shares in the troubled global banking group fell sharply as investor skepticism set in...

Deutsche Bank AG moved Sunday to gut its global ambitions as a trading powerhouse, cutting 18,000 jobs and retreating to its German banking roots in a radical overhaul to try to save itself after years of decline. Deutsche Bank's restructuring plan reorders the bank's executive ranks under Chief...

Bayerische Motoren Werke AG (BMW.XE) and Daimler AG (DAI.XE) are partnering up on automated driving, the two car makers said Thursday. The German companies signed an agreement for long-term strategic cooperation, which will focus on developing technologies for driver assistance, automated...

Real-estate investor AXA Investment Managers, part of French insurer AXA (AXAHY, CS.FR), has agreed to buy NorthStar Realty Europe Corp. (NRE). NorthStar said the estimated per-share value of $17.03 represents a 16.4% premium to its unaffected closing stock price of $14.63 on Nov. 6, before the...

The Asia-Pacific unit of Anheuser-Busch InBev SA is seeking to raise as much as $9.8 billion in what could be the biggest food and beverage IPO globally. Budweiser Brewing Company APAC Ltd., the Asia-Pacific business of the world's biggest brewer with a market capitalization of nearly $151...