Business News
Fonterra Chairman resigns on health concerns
Milk producer Fonterra said on Friday Chairman John Wilson has resigned from his position with immediate effect over concerns regarding his health.
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Business News
Amgen quarterly profit beats Wall Street view on new product sales
Amgen Inc on Thursday reported a better-than-expected second quarter profit and raised its full-year forecast, as growth of newer drugs like cholesterol fighter Repatha and osteoporosis drug Prolia offset weakness in older products.
Business News
Intel’s data center business misses estimates, shares fall
Intel Corp missed analysts’ estimates for its closely watched data center business on Thursday as it faced stiff competition from rival Advanced Micro Devices Inc , sending its shares down 3 percent in extended trading.
Business News
Starbucks reports cooling quarterly growth and pares outlook
Starbucks Corp lowered its guidance for full year same-store sales growth on Thursday, saying it now sees growth just below its previous target range.
Business News
Global stocks fail to hold four-month peak as Facebook plunges
World stock markets failed to hold onto four-month highs on Thursday as a record sell-off in Facebook shares offset optimism that the European Union and the United States would settle their differences on trade.
Business News
Chipotle’s price hikes, queso cheese boost sales past estimates
Chipotle Mexican Grill Inc topped analysts’ estimates for comparable-restaurant sales on Thursday, boosted by higher menu prices and demand for its queso cheese dip in its first full quarter under Chief Executive Officer Brian Niccol.
Business News
U.S. touts EU trade truce, attention now turns to China
The United States signaled on Thursday it is set to push ahead on trade talks with Canada and Mexico after agreeing to suspend hostilities over tariffs with Europe in a fragile deal that may clear the way for renewed pressure on China.
Business News
Republican lawmakers remain skeptical after Trump’s EU deal
Numerous congressional Republicans worried about jobs for constituents back home remained skeptical of President Donald Trump’s trade policies on Thursday, a day after Trump struck a surprise deal with the EU to halt further tariffs and hold talks on opening markets.
Business News
Synchrony Financial’s credit card program with Walmart ends
Synchrony Financial said on Thursday that its store credit card program with Walmart Inc will not be renewed, ending a near two-decade long partnership.
Business News
Northrop CEO grilled by U.S. lawmakers over space telescope
Northrop Grumman Corp CEO Wes Bush faced tough questions from U.S. lawmakers about the delays and growing price tag for NASA’s James Webb Space Telescope and rebuffed the idea that the company, rather than taxpayers, should pay an $800 million cost overrun.
Business News
Facebook weighs on Nasdaq and S&P, but trade optimism boosts Dow
Facebook’s slump set the Nasdaq on pace for its biggest drop in a month, but industrial stocks rose after the United States and the European Union said they would negotiate on trade.
Business News
Papa John’s founder sues pizza chain
John Schnatter, the founder and ousted former chairman of Papa John’s International Inc , on Thursday sued the pizzeria chain, complaining that the company had not provided adequate response to an earlier request for internal documents.
Trading Ideas
ConocoPhillips boosts 2018 spending, production outlook
U.S. oil and gas producer ConocoPhillips posted better-than-expected quarterly profit on Thursday thanks to rising crude prices, prompting executives to boost capital spending and production targets for the year. The new targets are a bullish bet that oil prices, which have surged more than 15 percent since January, are not likely to drop in the near future, helping Conoco exploit its lucrative shale acreage around the United States. Houston-based ConocoPhillips, the world’s largest independent oil and gas producer, is one of the first major U.S. oil producers to report …read more […]
Trading Ideas
What Germany and France are saying about the Trump trade truce
Serious question marks emerge in Europe as Jean-Claude Juncker and Donald Trump’s agreement delays trade war between the EU and the US. …read more […]
Business News
Fiat Chrysler says it did not know about Marchionne’s illness
Fiat Chrysler said it knew nothing about the medical condition of Sergio Marchionne after a Swiss hospital said on Thursday it had been treating the deceased chief executive for more than a year.