Swedish truck maker AB Volvo reported a smaller-than-expected fall in fourth-quarter earnings in the face of slowing demand and unveiled plans on Thursday for a payout to shareholders that blew past market expectations.
A rapidly spreading virus outbreak in China is emerging as a potentially major new risk to the global economy and leaving policymakers, still grappling with the impact of the Sino-U.S. trade war, fretting over the widening fallout.
Deutsche Bank posted a 1.6 billion euro ($1.78 billion) loss in the fourth quarter of 2019, bringing the total loss for the year to 5.7 billion euros as the bank undergoes a costly overhaul, the lender said on Thursday. It was the third consecutive quarterly loss and fifth annual loss in a row for Germany’s top bank. Analysts on average forecast Deutsche would lose 1 billion euros in the quarter and 5 billion euros for the full year. …read more […]
Japanese authorities on Thursday issued arrest warrants for a former U.S. special forces soldier and two other men on suspicion of smuggling former Nissan Motor Co boss Carlos Ghosn out of Japan.
U.S. refineries and petrochemical plants are cutting back on insurance because several years of severe accidents have driven up the cost of coverage, industry and insurance sources said.
Bayer is considering stopping sales of the weedkiller glyphosate to private users who apply it in their gardens, German newspaper Handelsblatt reported on Thursday, citing financial and corporate sources.
Tokyo prosecutors on Thursday issued arrest warrants for a former U.S. special forces soldier and another person suspected of smuggling former Nissan Motor Co boss Carlos Ghosn out of Japan, Kyodo news reported.
A lawyer for Michael Avenatti told a jury that Nike Inc was being probed by the U.S. Securities and Exchange Commission (SEC) over claims that it made illicit payments to elite youth basketball players, Bloomberg reported on Wednesday.
Samsung Electronics Co is counting on a gradual recovery in memory chip demand from data centers and 5G smartphone makers to help it bounce back in 2020 after sliding to its worst operating profit in four years.
The U.S. economy likely maintained a moderate pace of growth in the fourth quarter, and probably again fell short of attaining the Trump administration’s coveted but elusive 3% annual growth target because of slumping business investment amid damaging trade tensions.
Asian stocks and currencies fell on Thursday as the death toll from a new virus spreading in China rose and more cases were reported around the world.
Q4 2019 3M Co Earnings Call …read more […]
(Bloomberg Opinion) — Samsung Electronics Co.’s earnings report and outlook reflect doom and gloom. Many are surprised. Positive signs from chip rival Taiwan Semiconductor Manufacturing Co. and smartphone stalwart Apple Inc. had fed the belief that the South Korean giant would put the worst behind it. The key takeaway here is that a rising tide doesn’t lift all boats.On the surface, as the one of the world’s biggest technology companies, it might be reasonable to suggest that Samsung ought to benefit from the turnaround enjoyed by major rivals. In reality, a major reason why Samsung is suffering while others …read more […]
Oil prices fell on Thursday as the death toll from the new virus in China climbed to 170 and more airlines canceled flights to the country’s major cities, while rising U.S. crude inventories added to the negative tone.
(Bloomberg) — Asian stocks slumped to a seven-week low and sovereign bonds rallied amid mounting evidence that the coronavirus epidemic is disrupting the world’s second-largest economy.A slew of companies have suspended some of their China operations for the time being in the effort to contain the disease, and economists have started cutting growth forecasts. Japanese shares slid more than 1%, and Korea, Hong Kong and Australia saw losses. Taiwan tumbled over 4% as that market came back from a holiday. U.S. futures dropped and Treasury yields added to declines. The yuan dipped offshore.Foxconn’s Hon Hai Precision Industry Co. — which …read more […]
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