Best Buy Co Inc on Thursday stuck to its full-year forecast due to the impact of the latest U.S. tariffs on Chinese imports and warned any new levies would increase prices for U.S. shoppers, sending its shares down as much as 5.4%.
China said the United States needs to correct its “wrong actions” in order for trade talks to continue after it blacklisted Huawei, a blow that has rippled through global supply chains and battered technology shares.
U.S. Secretary of State Mike Pompeo said on Thursday the chief executive of China’s Huawei Technologies was lying about his company’s ties to the Beijing government, and he believed more American companies would cut ties with the tech giant.
Deutsche Bank’s chief executive promised shareholders “tough cutbacks” at its underperforming investment bank on Thursday as he battled to convince them he can turn around Germany’s biggest lender, whose shares hit a record low.
U.S. stocks opened lower on Thursday, as investors feared that the U.S.-China trade spat could spiral into a technology cold war between the two countries, with no signs of a resolution in sight.
Novartis could reach its main drugs business’s margin target “a little sooner” than 2022, as it now forecasts, as it cuts costs and as new drugs including gene therapy accelerate, Chief Executive Vas Narasimhan told investors.
A company working to make open-source self-driving software reliable enough to be used in commercially available vehicles said it had hired a former German car boss as it seeks to expand its reach.
Wall Street’s main indexes were set to open lower on Thursday, as investors feared that the U.S.-China trade spat could spiral into a technology cold war between the two countries, with no signs of resolution in sight.
U.S. Secretary of State Mike Pompeo said on Thursday the chief executive of China’s Huawei Technologies was lying about his company’s ties to the Beijing government, and he believed more U.S. companies would cut ties with the tech giant.
Best Buy Co Inc warned on Thursday that price increases from another possible round of tariffs on Chinese imports will be felt by U.S. shoppers.
Best Buy Co Inc forecast second-quarter sales and profit above estimates on Thursday, as more people signed up for the consumer electronics retailer’s subscription-based tech support services and shopped on its website and app.
U.S. President Donald Trump’s $16 billion aid program will help boost American farmers hit by the ongoing U.S.-China trade war, including market access programs, the U.S. agriculture secretary said in a television interview on Thursday.
U.S. Secretary of State Mike Pompeo said on Thursday that China presents a real risk to U.S. national security and he believes more American companies will cut ties with Huawei Technologies
The U.S. Department of Justice’s antitrust chief, Makan Delrahim, is still open to T-Mobile US Inc’s $26 billion acquisition of smaller rival Sprint Corp, CNBC reported on Thursday.
U.S. stock index futures slid on Thursday, as investors worried that the U.S.-China trade war could spiral into a technology cold war between the two countries, with no signs of resolution in sight.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
