Concerns about trade policy and a weak global economy “continue to weigh on the U.S. economic outlook” and the Federal Reserve stands ready to “act as appropriate” to sustain a decade-long expansion, Fed Chairman Jerome Powell said on Wednesday in remarks that could bolster expectations of an interest rate cut later this month.
American Airlines Group Inc said on Wednesday its second-quarter profit would be reduced by about $185 million as the No.1 U.S. airline had to cancel thousands of flights due to the grounding of Boeing Co’s 737 MAX jets.
U.S. stock index futures turned positive on Wednesday after Federal Reserve Chair Jerome Powell said the central bank was ready to “act as appropriate” to sustain a decade-long expansion, bolstering expectations of an interest rate cut later this month.
American Airlines Group Inc on Wednesday raised its second-quarter forecast for unit revenue, a closely watched performance measure for carriers, as the grounding of Boeing Co’s 737 MAX jets reduced its overall fleet size.
Oil prices rose more than 2% on Wednesday after industry data showed U.S. inventories fell more than expected and as major U.S. producers evacuated rigs in the Gulf of Mexico before a storm.
Swedish truckmaker AB Volvo’s first commercial autonomous truck deal shows how it is bundling services to generate revenue from a technology that is years away from wide deployment.
U.S. stock futures fell on Wednesday, as investors eyed Federal Reserve Chairman Jerome Powell’s remarks later in the day for clues on the central bank’s interest rate policy direction.
With other parts of its business facing hefty cuts, Deutsche Bank wants to expand its European operations handling the assets of rich clients and take market share from rivals after staunching the outflow of assets.
Deutsche Bank investors will press Chief Executive Christian Sewing on how he will deliver on revenue growth targets during a global roadshow to win backing for his 7.4 billion euro ($8.4 billion) ‘reinvention’ plan.
Elliott Management Corp has invested more than rivals in its push for corporate change so far this year and there has been an increasing focus among activist investors on German companies.
The founder of Superdry warned the revival of the struggling British fashion group would be a long haul after a 130 million pound ($161 million) charge for poorly performing stores pushed it into an annual loss, sending its shares lower.
The European Commission lowered its estimates on Wednesday for euro zone growth and inflation, saying uncertainty over U.S. trade policy posed a major risk to the bloc.
For the administration of President Donald Trump, a policy of “energy dominance” means reducing dependence on imported oil and promoting exports to boost the national economy and Washington’s political influence overseas.
Oil prices rose around 2% on Wednesday after industry data showed U.S. inventories fell more than expected, while major U.S. producers evacuated rigs in the Gulf of Mexico ahead of a storm.
U.S. online retailer Amazon does not have to provide a helpline phone number to consumers, Europe’s top court said on Wednesday in a ruling that could boost e-commerce merchants.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
