Levi Strauss & Co has been “deliberate and diligent” in moving production out of China because of uncertainty hanging over tariffs on goods imported from China, Chief Executive Officer Chip Bergh said in an interview with Reuters.
U.S. stock indexes fell at open on Friday, weighed by tariff-sensitive technology stocks following a sharp escalation in U.S.-China trade tensions, while a tepid domestic jobs growth in July reinforced fears of an economic slowdown.
Exxon Mobil Corp on Friday reported a 21% drop in quarterly profit, its third period in a row of weaker year-over-year results, as falling earnings in refining and chemicals offset improved oil production.Exxon’s weaker results mirrored those at rivals Royal Dutch Shell , Equinor and Total SA . Shell posted its smallest profit in 30 months on weaker margins in chemicals, a loss in refining and tumbling natural gas pri
Chevron Corp reported a 26.3% jump in quarterly profit on Friday, as higher oil and gas production and a one-time breakup fee from its failed bid for a rival more than offset lower energy prices and a rise in expenses.
U.S. job growth slowed in July and manufacturers slashed hours for workers, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.
Wall Street was set to open lower on Friday after a sharp escalation in U.S.-China trade tensions and tepid job growth in July reinforced fears of a global economic slowdown.
European stocks posted their biggest drop of 2019 on Friday and bond yields tumbled to record lows after U.S. President Donald Trump fired another trade war salvo at China, sparking a frenzied dash for safe-haven assets.
Amazon.com Inc is in talks with Reliance Industries Ltd’s retail unit to buy a stake in India’s biggest brick-and-mortar retailer, two sources with knowledge of the talks told Reuters on Friday.
Chevron Corp reported a 26.3% rise in quarterly profit on Friday, as higher production more than offset lower crude oil and natural gas prices and a rise in expenses.
U.S. job growth slowed in July and wages picked up moderately, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.
Oil prices rose more than 2% on Friday, regaining some ground after their biggest falls in years on U.S. President Donald Trump’s threat to impose more tariffs on Chinese imports.
Exxon Mobil Corp reported a 21% drop in quarterly profit on Friday, hit by weaker natural gas prices, lower refining profits and a loss in its U.S. chemicals business.
Sprint Corp on Friday reported fewer-than-expected losses in quarterly net phone subscribers who pay a monthly bill, as the U.S. wireless carrier’s cheaper plans helped it retain customers amid its pending merger with larger rival T-Mobile US .
Shares in Ferrari went into reverse on Friday as the Italian luxury carmaker failed to lift its guidance for 2019 despite strong results in the first part of the year.
U.S. aluminum maker Novelis [NVLXC.UL] must offer concessions to European Union competition authorities by Aug. 9 to gain approval for its $2.6 billion takeover of aluminum processor Aleris [TXPACA.UL], sources close to the matter said.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
