Memory chip spot prices have risen for the first time this year, indicating grim warnings of “never seen before” spikes and a supply disruption could come to pass as a dispute between South Korea and Japan drags on.
British online fashion retailer ASOS dented profit expectations for the third time in eight months on Thursday, saying problems in ramping up warehouses in the United States and Germany had hit sales and increased costs.
Anglo American on Thursday posted a 2% rise in second quarter output and reaffirmed full-year production targets, boosted by a restart of operations at its Brazilian iron ore mine and higher volumes of coking coal.
Sweden’s AB Volvo raised its market forecasts for North America and Europe on Thursday, as higher trucks and construction equipment deliveries helped it to top profit estimates.
Britain’s easyJet on Thursday reported third quarter trading in line with expectations, boosted by more customers taking optional extra services and enabling it to reiterate its full-year profit forecasts.
Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance , plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters.
Volvo on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability.
British online fashion retailer ASOS warned on profit for the third time in eight months on Thursday, saying it had struggled to overhaul warehouses in the United States and Europe to meet demand.
Oil prices were mixed on Thursday with U.S. crude extending losses after falling in the previous session after data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.
Asian share markets faltered on Thursday as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, which helped underpin solid demand for safe-haven U.S. Treasuries.
Anglo American on Thursday said the ramp-up of iron ore at Minas Rio in Brazil and higher volumes of coking coal had offset reduced diamond production, raising second-quarter output by 2% and keeping the company on track to meet its 2019 targets.
Danske Bank’s second-quarter pre-tax profit came in below expectations on Thursday, hit by low interest rates and higher costs associated with compliance following a money-laundering scandal at its Estonian branch.
Novartis Chief Executive Vas Narasimhan set aside $700 million to settle a U.S. doctor bribery lawsuit, as the Swiss drugmaker seeks to close the chapter on allegedly aggressive business practices that exposed it to litigation risks.
AB Volvo on Thursday hiked its growth outlook for North America and Europe, as upbeat deliveries for trucks and construction equipment as well as continued easing of supply-chain bottlenecks helped the Swedish truckmaker top estimates.
Britain’s easyJet on Thursday said it would hire Peter Bellew as its chief operating officer from Ryanair , as the budget airline said quarterly trading had been in line with expectations.
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