U.S. stocks opened lower on Thursday after a four-day rally, on disappointment over lack of details from the U.S.-China trade talks and holiday-season reports from retailers.
Macy’s Inc cut its comparable sales forecast for the holiday quarter on Thursday while year-end sales growth at rival Kohl’s Corp disappointed investors, signaling retailers’ continued struggle to keep up with a shift toward online shopping.
Trading and mining giant Glencore has lost its exclusive marketing rights for two of Libya’s main crude oil export grades after holding them since late 2015, trading sources with direct knowledge said.
Jaguar Land Rover (JLR) will cut 10 percent of its workforce, mostly in its home market, as Britain’s biggest carmaker faces lower Chinese demand and a slump in European diesel sales.
Shares of Macy’s Inc plunged 17 percent in early trading on Thursday, after the department store operator cut same-store sales forecast for the crucial holiday quarter due to weak demand during mid-December.
A four-day rally in world stocks ran out of steam on Thursday and the dollar touched a near three-month low as mixed signals from U.S.-China trade talks and caution at the Federal Reserve applied the brakes.
American Airlines Group Inc on Thursday cut its estimate for a closely watched revenue metric for the fourth quarter, raising concerns that travel demand in the U.S. may be taking a hit from slowing global growth and trade tensions.
U.S. stock index futures dipped on Thursday, after a solid four-day rally, as lack of details on U.S.-China trade talks gave investors pause, while retailers came under pressure after a couple of disappointing holiday-season reports.
Target Corp said on Thursday comparable sales grew 5.7 percent during November and December, helped by higher customer visits and strong online sales during the holiday season.
The European Commission has opened an investigation into the tax treatment of Nike Inc in the Netherlands, saying this may have given the U.S. sportswear maker an illegal advantage.
Britain’s biggest carmaker Jaguar Land Rover (JLR) is set to cut thousands of jobs as the company faces lower demand in China and a slump in sales of diesel cars in Europe.
The European Commission has opened an in-depth investigation into the tax treatment of Nike Inc in the Netherlands, saying this may have given the U.S. sportswear maker an illegal advantage.
The Dutch government said on Thursday it will cooperate with an investigation by the EU Commission into Nike Inc.’s tax arrangements in the Netherlands.
The early-year rally in world stocks ran out of steam in Europe on Thursday and the dollar touched a near-three-month low, as mixed signals from U.S.-China trade talks and caution at the Federal Reserve applied the brakes.
Renault and Nissan directors were due to be updated on the investigation into suspected financial misconduct by alliance boss Carlos Ghosn at separate board meetings on Thursday, sources familiar with the matter told Reuters.
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