Year: 2018

Apple Inc shares fell to their lowest in more than three months on Monday as three suppliers issued warnings on results that pointed to weakness in iPhone sales.

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General Electric Co is pursuing assets sales with “urgency” to reduce its high debt and is unsure when its ailing power business will hit bottom, Chief Executive Officer Larry Culp said in a television interview on Monday, sending its shares down as much as 10 percent.

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Volkswagen could build up to 50 million electric cars on its new electric vehicle platform and is looking at expanding its manufacturing footprint in the United States, Chief Executive Herbert Diess told Automotive News.

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The Nasdaq Composite index fell about 2.5 percent on Monday, hit by a slump in Apple Inc shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks in general.

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The U.S. dollar surged on Monday to its highest point in 16 months against a basket of currencies and world stocks fell broadly amid concern about political risks in Europe, while a drop in Apple shares added pressure to U.S. equities and tech shares.

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General Electric Co Chief Executive Officer Larry Culp said on Monday the conglomerate was saddled with too much debt and would urgently sell assets to reduce the indebtedness, sending its shares down as much as 10 percent.

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Apple Inc shares fell to their lowest in more than three months on Monday as the main supplier for its Face ID technology, Lumentum Holdings Inc , slashed revenue and profit forecasts, citing reduced orders from a major customer.

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Noble Group Ltd is set to appoint Ian Potter, a former senior banker at Morgan Stanley, as its next chairman in a few weeks, just as the commodities trader seeks to complete its $3.5 billion debt restructuring, sources with knowledge of the matter said on Monday.

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Coty Inc replaced its chief executive officer and chairman on Monday, days after the cosmetics giant spooked investors by saying it was grappling with a supply chain issues that could hurt its performance this fiscal year.

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General Electric Co Chief Executive Officer Larry Culp said on Monday the company was saddled with too much debt and would urgently sell assets to reduce levels of leverage, sending its shares down as much as 8 percent.

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U.S. stocks fell for a third day on Monday, as a slump in Apple Inc shares following weak forecasts from two of its suppliers hit the technology sector.

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Oil prices rose on Monday after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day next year.

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U.S. stocks opened lower on Monday, as a slide in Apple Inc after weak forecasts from two of its suppliers and losses in tobacco companies offset early gains from a rebound in oil prices.

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U.S. movie theater chains fear that a Justice Department review of little-known mid-century rules may result in studios getting free rein to force them to show unpopular movies in exchange for getting blockbuster releases, threatening their profits.

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U.S. stocks were headed for a lower opening on Monday, as a slide in Apple Inc after weak forecasts from two of its suppliers and losses in tobacco companies offset early gains from a rebound in oil prices.

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