Business & Finance News
Oil prices extended their gains on Thursday, with Brent rising above $61 a barrel as a surprise drop in U.S. crude inventories and the prospect of further market-supporting action by OPEC and its allies offset some concern over the outlook for demand.
Revenue growth at Kering SA’s Gucci brand slowed further in the third quarter, though the label managed to offset some of the turmoil in Hong Kong through business in other Asian markets and its sales beat expectations.
The S&P 500 and Nasdaq indexes rose on Thursday, getting a boost from Microsoft and PayPal’s strong earnings, but poor results from 3M pushed the blue-chip Dow Jones index into the red.
New orders for key U.S.-made capital goods fell more than expected in September and shipments also declined, a sign that business investment remains soft amid the fallout from the U.S.-China trade war but other data on Thursday showed the spat has yet to have much effect on the overall jobs market.
European Central Bank President Mario Draghi told his successor on Thursday to “never give up” on propping up the euro zone economy in the face of a worsening outlook and little help from governments.
Stock markets edged higher on Thursday amid upbeat earnings reports from a slew of companies worldwide, while the British pound slipped.
Twitter Inc posted worse-than-expected quarterly revenue and profit on Thursday, plagued by unusually low demand over the summer and technical issues that hurt its advertising, sending its shares down about 19%.
Spirit Airlines said it is working with Airbus SE and trade representatives to mitigate the impact of U.S. tariffs on European-made aircraft but does not see a near term impact on its overall cost structure.
Italian-American carmaker Fiat Chrysler more than doubled the value of a jersey sponsorship deal with Juventus in a sign of increasing support from the Agnelli family for Italy’s football champions.
American Airlines Group and Southwest Airlines posted quarterly profit rises on Thursday even as the two U.S. carriers pointed to rising impact from the continued grounding of Boeing 737 MAX.
Russia’s largest oil company Rosneft has fully switched the currency of its contracts to euros from U.S. dollars in a move to shield its transactions from U.S. sanctions, its chief executive Igor Sechin said on Thursday.
A rise in shares of Microsoft and PayPal boosted the Nasdaq on Thursday, but poor earnings reports from Twitter and 3M dragged down the S&P 500 and Dow Jones indexes, taking the shine off what has been an upbeat earnings season so far.
Oil prices climbed on Thursday, with Brent rising above $61 a barrel as a surprise drop in U.S. crude inventories and the prospect of further market-supporting action by OPEC and its allies offset some concern over the outlook for demand.
A probe into a series of engine failures on Airbus’s smallest jet, the A220, is studying whether a software change set off unexpected vibrations that damaged fast-moving parts and forced three emergency landings, people familiar with the case said.
Sales of new U.S. single-family homes fell in September as low inventories continue to weigh on sales even as prices saw the biggest monthly fall in five years.
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