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Trading Ideas

Deere Surges on Surprise Profit Growth Spurred by Farm Recovery

(Bloomberg) — Machinery giant Deere & Co. delivered an unexpected increase in earnings and maintained its annual outlook as early signs of stabilization in the U.S. farm sector offset a slowdown in construction. Shares surged.“Farmer confidence, though still subdued, has improved due in part to hopes for a relaxation of trade tensions and higher agricultural exports,” Chief Executive Officer John May said in a statement accompanying its fiscal first quarter results.While the CEO didn’t mention the coronavirus in the statement, his comments may help ease concerns about how much the outbreak will delay China’s return to U.S. agricultural markets as …read more […]

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Trading Ideas

Tesla resumes tree cutting in Germany to build Gigafactory

Tesla Inc said it had resumed tree cutting in Gruenheide, Germany so it can construct its first European car and battery factory following moves by environmentalists to stop local deforestation. “Tree clearance is proceeding in an orderly manner,” Tesla said on Friday. There were no environmentalists holding up the process, Tesla’s spokeswoman Kathrin Schira said in a statement. …read more […]

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Business News

Inside the Philip Morris campaign to ‘normalize’ a tobacco device

At Germany’s Bambi Awards for the media industry in November, celebrities posed for red-carpet photos against a backdrop of established luxury brands. Alongside the likes of Mercedes-Benz and Swiss watchmaker Chopard was a newer name: IQOS, a “reduced risk” heated-tobacco device sold by cigarette maker Philip Morris International Inc.

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