Kellogg Co beat Wall Street expectations for quarterly sales and profit on Thursday, and the food maker’s shares rose sharply as investments in marketing and product development drove higher demand for snacks, frozen waffles and meatless burgers in North America.
The U.S. Department of Agriculture on Thursday confirmed a private Chinese company bought 68,000 tonnes of soybeans in the week ended July 25, the first soybean purchase since Beijing offered to exempt five crushers from import tariffs imposed more than a year ago as part of a U.S.-China trade dispute.
The dollar charged to its highest in more than two years on Thursday, trampling almost every market in its way, after the Federal Reserve dampened hopes for a lengthy run of U.S. interest rate cuts.
U.S. stocks bounced back on Thursday from a steep selloff in the prior session, boosted by technology shares as investors shrugged off a cautious outlook from the Federal Reserve on interest rate cuts and focused on corporate earnings.
Oil dropped more than 2% on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes that a string of interest rate cuts would be in the offing and as record U.S. output helped keep the market well supplied.
Yum Brands Inc beat expectations for quarterly profit on Thursday, as menu refreshes and a delivery push drove better-than-expected growth at all of the restaurant operator’s chains, including Pizza Hut, sending its shares to a record high.
General Motors Co is open to working with other automakers on the development of electric vehicles, Chief Executive Mary Barra said on Thursday.
Financial data firm Refinitiv’s $13.5 billion debt, once described as having some of the weakest-ever investor protections typical of the frothy peak of the credit cycle, is being rehabilitated by its $27 billion merger with the London Stock Exchange.
Bombardier Inc lowered its full-year earnings and cash flow forecasts and reported a quarterly loss on Thursday, as it faces challenges in its important rail division, sending shares of the Canadian train and plane maker down 18%.
U.S. manufacturing activity slowed to a near three-year low in July and a measure of new orders received by factories rebounded slightly, as the negative effects of a bitter trade war between the United States and China lingered.
The apparent suicide of India’s coffee baron V.G. Siddhartha, under investigation by tax authorities, has inflamed anger toward the government among business leaders who feel it is going too far in its crackdown on fraud and tax evasion.
BMW’s second quarter earnings fell by a fifth, hit by exchange rate moves and investments in manufacturing electric and hybrid cars to help meet stricter emissions limits.
Global grain trader and food processor Archer Daniels Midland Co on Thursday reported a 41.3% drop in second-quarter adjusted profit and missed Wall Street expectations, after being battered by the U.S.-China trade war and severe U.S. weather this spring that disrupted production and transportation.
U.S. stocks bounced back on Thursday, helped by technology shares as focus shifted to corporate earnings after a cautious message from the Federal Reserve on interest rates drove some of the biggest falls since May in the previous session.
BNP Paribas analysts said late Wednesday they expect the Federal Reserve to lower key U.S. borrowing costs only one more time in 2019, with a 25 basis-point cut in September as an insurance against mounting risks.
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