Business News
Amazon first-quarter sales forecast misses estimates, shares down
Amazon.com Inc on Thursday forecast first-quarter sales below Wall Street estimates, even as sales for the holiday quarter hit a record and rose 20 percent.
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Business News
Germany drops F-35 from fighter tender; Boeing F/A-18 and Eurofighter to battle on
Germany will pick either the Eurofighter or Boeing’s F/A-18 fighter jet to replace its Tornado warplanes, knocking Lockheed Martin’s F-35 stealth fighter out of a tender worth billions of euros, Defence Ministry sources said on Thursday.
Newsmakers
MedPharm Holdings Develops Innovative Cannabinoid Infused Dissolvable Oral Strip
Today MedPharm Holdings announced the successful formulation and development of micro-emulsified, cannabis infused, dissolvable thin strips “Melts,” powered with their proprietary Lipophilic Enhanced Absorption Formulation (LEAF) technology. The oral strip is unique in that it […]
Business News
Wall Street closes higher with help from Facebook, Fed
Wall Street extended its rally on Thursday as strong earnings from Facebook Inc added to optimism after the Federal Reserve’s dovish remarks the previous day, while investors waited for the outcome of U.S.-China trade talks.
Business News
China’s Xi wants to meet U.S. half way on trade deal, Trump says
China’s leader Xi Jinping told U.S. President Donald Trump in a letter that he hopes both sides will be able to meet each other halfway to reach a trade agreement before a March 1 deadline, Trump said on Thursday.
Business News
Amazon removes numerous products from India site as new e-commerce rules bite
E-commerce rules that went into effect in India on Friday caused widespread disruption for Amazon.com, forcing it to take down an array of items from its India website including Echo speakers, batteries and floor cleaners.
Business News
Fed pause sets stocks for best January on record, yields fall
Global equity markets mostly rose on Thursday, propelled by Facebook’s upbeat earnings and the Federal Reserve’s pledge to be patient in raising borrowing costs further, while U.S. bond yields fell on indications of weaker-than-expected inflation.
Business News
VW’s Porsche informs authorities of possible issue with emissions
Volkswagen’s Porsche unit said on Thursday it had informed German authorities of potential issues with its emissions data, following a report in Germany’s Der Spiegel that the figures for its 911 models of 2016 and 2017 were inaccurate.
Business News
Trump wants ‘very big’ U.S.-China trade deal, hints at delays
President Donald Trump said on Thursday he wanted a “very big deal” U.S. trade deal with China, but signaled there could be delays if negotiations fail to meet his goals of opening the Chinese economy broadly to U.S. industry and agriculture.
Business News
Germany to give fighter jet order to Airbus or Boeing: sources
Germany will choose between the Eurofighter and Boeing’s F/A-18 fighter jet to replace its aging Tornado fighter jets, knocking Lockheed Martin’s F-35 out of a tender worth billions of euros, Defence Ministry sources said on Thursday.
Business News
Fiat Chrysler cancels shifts due to strains on utility
Fiat Chrysler Automobiles NV said on Thursday it was canceling two additional shifts at its Warren Truck and Sterling Heights Assembly plants after CMS Energy Corp made an emergency appeal to users to conserve natural gas following a fire at a compressor station and extremely cold weather.
Business News
Musk not worried about Tesla Model 3 demand, Wall Street thinks otherwise
Tesla Inc shares fell on Thursday as Wall Street wondered if demand for its mass market Model 3 sedan could be sustained while it tries to make substantial inroads in China.
Business News
Facebook removes more accounts tied to Iran
Facebook Inc said on Thursday it removed pages, groups and accounts tied to Iran for using and coordinating fake accounts.
Business News
U.S., China made ‘some progress’ on structural issues in trade talks: U.S. Chamber
The United States and China made “some progress” in addressing differences over intellectual property rights and market access issues, but still have gaps in other structural issues, U.S. Chamber of Commerce officials briefed on the trade talks said on Thursday.
Business News
Blackstone earnings sink 42 percent on lower fees; managed assets hit record
Blackstone Group LP, the world’s largest manager of alternative assets, said on Thursday fourth-quarter earnings slumped 42 percent from a year earlier to $722 million, hurt by lower performance fees.