BMW’s said it is producing between 10,000 and 20,000 X5 sports utility vehicles in Thailand as a way to supply Chinese customers now that imported vehicles from the United States face a 40 percent tariff.
Cisco Systems Inc said on Thursday it would buy Duo Security, a venture capital-backed cyber security company, for $2.35 billion in cash, as it seeks to expand its offerings in cloud computing.
Wall Street was set to open lower after tech and industrial stocks fell, as fears of a trade spat between the United States and China failed to let up after President Donald Trump proposed 25 percent tariffs on $200 billion worth of Chinese imports.
Shares of Tesla Inc jumped 10 percent in premarket trade on Thursday, after the company convinced investors that it was able to produce positive cash flow and turn a profit, and Chief Executive Officer Elon Musk apologized for past incendiary remarks.
New tariffs that the United States is threatening to impose on nearly half the goods imported from China would have a small impact on the Asian nation’s economy and not lead to disaster, Commerce Secretary Wilbur Ross said on Thursday, as U.S. financial markets were set to open lower on the trade standoff.
Cereal maker Kellogg Co topped Wall Street estimates for quarterly sales and profit and raised its full-year outlook on Thursday, betting on its recent acquisition of protein bar RXBAR and Nigeria’s Multipro.
Franco-Dutch airline Air France-KLM is unlikely to name a new leadership team before the end of August or early September, sources close to the matter told Reuters.
China on Thursday urged the United States to “calm down” and return to reason after the Trump administration sought to ratchet up pressure for trade concessions by proposing a higher 25-percent tariff on $200 billion worth of Chinese imports.
Apple Inc is speaking with Chinese telecom firms to find ways to reduce spam received through its messaging service, a spokeswoman said, days after state media alleged it was allowing illegal content on its platform.
Cisco Systems Inc is in advanced talks to acquire Duo Security, a venture capital-backed cyber security company, as it seeks to expand its offerings in cloud computing, according to people familiar with the matter.
Qualcomm Inc said Thursday it expects to bring in more than $1 billion in sales this fiscal year from semiconductor chips from smart watches, connected speakers and other devices outside its core business of chips for mobile phones.
Yum Brands Inc’s quarterly sales at established outlets fell short of Wall Street estimates on Thursday, as fewer customers dined at its Pizza Hut and Taco Bell chains.
Technology and industrial companies pushed U.S. stock index futures lower on Thursday, as fears of a trade spat between the United States and China failed to let up after President Donald Trump proposed 25 percent tariffs on $200 billion worth of Chinese imports.
BMW reported a smaller-than-expected 6 percent decline in second quarter operating profit on Thursday while brushing off concerns about new anti-pollution rules and global trade tensions which caused rival Daimler to warn on profits.
BMW expects China sales to rise between 5 and 10 percent this year, despite the introduction of 40 percent import tariffs on vehicles imported from the United States since July.
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