Business & Finance News
Medical device maker Abbott Laboratories reported quarterly revenue that fell just short of Wall Street estimates and trimmed the upper end of its full-year earnings forecast on Wednesday, sending its shares down 2%.
Bank of America Corp beat Wall Street estimates for quarterly profit as it earned more in advisory fees and grew its loan book, easing concerns that lower interest rates would crimp growth at the second-largest U.S. bank.
Oil steadied below $59 a barrel on Wednesday, pressured by concerns about weaker demand for fuel due to slower economic growth and forecasts of a further rise in U.S. crude inventories.
Bank of New York Mellon Corp reported a better-than-expected quarterly profit on Wednesday, as the world’s largest custodian bank cut costs to counter weakness in its investment management business and lower interest rates.
Volvo Cars, owned by China’s Geely Holding , is targeting a 40% reduction in the carbon footprint of each car it manufactures by 2025 as it bids to become fully climate neutral by 2040, it said in a statement on Wednesday.
Oil edged further below $59 a barrel on Wednesday, pressured by concerns about weaker demand for fuel due to slower economic growth and forecasts of a further rise in U.S. crude inventories.
Bank of America Corp , the second-largest U.S. bank by assets, beat analysts’ estimates for quarterly profit as gains from trading in stocks and robust loan growth helped cushion it from lower interest rates.
Huawei Technologies Co Ltd’s third-quarter revenue jumped 27%, driven by a surge in shipments of smartphones launched before a trade blacklisting by the United States expected to hammer its business.
Uber Technologies Inc and Lyft Inc have declined to appear at a U.S. House of Representatives hearing on Wednesday on issues relating to the ride-hailing industry, the Washington Post reported, citing company and congressional sources.
U.S. chipmaker Broadcom said on Wednesday that an EU antitrust order to halt certain business deals with six TV and modem makers will not have a material impact on its business and it will challenge the EU move in court.
Britain’s competition regulator said on Wednesday it had launched a formal investigation into Amazon.com Inc’s investment in food delivery company Deliveroo, setting a December 11 deadline for a decision https://reut.rs/2ONs4b0 on the first phase of its probe.
Marks & Spencer said on Wednesday its chief financial officer, Humphrey Singer, whose departure was announced last month, will step down on Dec. 31.
Huawei Technologies Co Ltd, the Chinese technology giant blacklisted by the U.S. government, said revenue grew 24.4% in the first three quarters of 2019 to 610.8 billion yuan ($86 billion).
Turkey’s Halkbank said on Wednesday that U.S. charges against it are part of sanctions Washington slapped on Ankara over its military incursion in Syria and represent an “unprecedented legal overreach.”
A second Woodford fund was suspended from trading on Wednesday after embattled investor Neil Woodford resigned as its manager.
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