American Airlines Group Inc and Southwest Airlines Co warned on Thursday of an increasing financial toll from the prolonged Boeing 737 MAX grounding this year even as strong bookings and higher fares helped drive quarterly revenue growth.
Four major automakers said on Thursday they have reached a voluntary agreement with the state of California on fuel efficiency rules, bypassing a Trump administration effort to strip the state of the right to fight climate change by setting its own standards.
U.S. stocks stumbled out of the starting gate and bond yields gained ground following mixed earnings and a rosier-than-expected statement from the European Central Bank’s governor.
Oil prices rose about 1% on Thursday amid Middle East tensions and a big decline in U.S. crude stockpiles, but gains were capped due to lingering worries about slowing economic growth that could reduce fuel demand.
China’s biggest auto industry association has cut its sales forecast for this year due to slowing economic growth, and now expects sales to fall for the second year running.
French energy giant Total will sell about $5 billion of assets, mostly from its exploration and production business as it sharpens its focus on low-breakeven projects that can weather weak oil prices, it said on Thursday.
U.S. stocks fell on Thursday after a handful of mixed earnings reports pointed to a slowing global economy, and as the European Central Bank chief’s comments on monetary policy failed to impress investors.
The U.S. economy grew at a 1.3% annualized rate in the second quarter based on June data on domestic durable goods orders and advance goods trade, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.
Bristol-Myers Squibb , which is set to buy biotechnology company Celgene Corp soon for $74 billion, posted better-than-expected second-quarter earnings on Thursday on strong sales from its blood thinner Eliquis and rheumatoid arthritis treatment Orencia.
Italian caterer Autogrill said on Thursday it had signed an exclusive multi-year agreement with bakery chain Panera Bread to develop outlets in U.S. airports and motorways.
Chocolate maker Hershey Co said on Thursday its new price hikes would not add to its profit and sales in the remaining two quarters and gave a dull full-year forecast, sending its shares down as much as 5%.
Kenya will take at least 21 months to take back full control of its national carrier Kenya Airways , buying out minority shareholders and converting shares held by banks into Treasury bonds, a lawmaker briefed on the transaction said.
Wall Street opened slightly lower on Thursday after a clutch of earnings reports pointed to a slowing global economy, while the European Central Bank opening the door to future interest rate cuts limited losses.
J.P. Morgan on Thursday trimmed its prior estimate on U.S. economic growth in the second quarter to 1.00% even in the wake of a larger-than-forecast increase in domestic durable goods orders and a shrinkage in trade goods deficit in June.
Auto sales in China are seen falling 5% year-on-year to 26.68 million units in 2019, the country’s top industry association said.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
