Subaru Corp on Friday said it did not pay overtime wages over a two-year period to some 3,400 employees who under-reported their hours, a revelation that surfaced in an internal probe following the 2016 suicide of an overworked employee.
Oil prices edged lower on Friday as a surprise increase in U.S. inventories offset support from the threat of lower production in Venezuela.
Asian stocks inched higher on Friday, buoyed by gains in U.S. technology shares, but gains were capped by worries over slowing growth in Europe and caution ahead of several key events next week including U.S.-China trade talks.
Starbucks exceeded Wall Street forecasts for quarterly sales on Thursday, led by the popularity of its holiday-themed drinks in the United States, where its growth has been cooling in an increasingly crowded market for coffee houses.
The Canadian government will provide C$40 million ($30 million)in funding to telecom network equipment maker Nokia for research on 5G wireless technology.
Daimler AG will deepen partnerships with Chinese auto suppliers since they often lead United States and European rivals in key technologies for electric cars and connected vehicles, Mercedes-Benz executive Wilko Stark said on Thursday.
U.S. oil prices rose by 1 percent on Thursday, boosted by the U.S. threat of sanctions on Venezuela, but gains were capped by record high gasoline inventories and an unexpected big build in crude stocks in the United States.
Intel Corp forecast current-quarter revenue and profit below analysts’ estimates and missed fourth-quarter sales estimates on Thursday, hit by a slowdown in China and sluggish demand for its data center and modem chips.
Starbucks Corp exceeded Wall Street forecasts for quarterly sales and earnings, helped by aggressive promotions and the popularity of holiday-themed beverages, driving shares 4 percent higher on Thursday.
A well-timed trade in the options on PG&E Corp reaped a massive paper profit on Thursday after the electric utility’s shares soared following a state regulator clearing the company from any responsibilities related to the 2017 Tubbs wildfire.
Canada’s ambassador to China said he “misspoke” when he said Huawei Chief Financial Officer Meng Wanzhou had a strong case against extradition to the United States, John McCallum said in a statement on Thursday.
Intel Corp forecast current-quarter revenue and profit below analysts’ estimates and missed on fourth-quarter sales expectations on Thursday, hit by a slowdown in China and sluggish demand for its data center and modem chips.
Embraer SA has signed the “master transaction agreement” for a tie-up with Boeing Co and called a shareholder assembly for Feb. 26 to approve the partnership, the Brazilian planemaker said in a securities filing on Thursday.
Starbucks Corp topped Wall Street forecasts for quarterly sales and earnings, as rejigged menus and heavy promotions helped attract customers to its cafes, driving its shares 4 percent higher on Thursday.
Stocks closed higher on Thursday after a choppy trading day, while U.S. Treasuries were in demand after the European Central Bank chief said economic growth was likely to be weaker than expected and with the United States was far from a China trade deal.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
