Business & Finance News
J.C. Penney Co Inc posted a smaller-than-expected quarterly loss on Thursday, as the struggling department store operator’s efforts to cut costs and shutter unprofitable businesses paid off, sending its shares up 12%.
U.S. stock index futures rose in volatile trading on Thursday, as strong July retail sales data and Walmart’s upbeat results eased some concerns about the economy slipping into recession, while mixed reports on the trade dispute kept investors on edge.
U.S. retail sales surged in July as consumers bought a range of goods even as they cut back on motor vehicle purchases, which could help to assuage financial markets’ fears that the economy was heading into recession.
UPS said on Thursday it has bought a minority stake in self-driving company TuSimple, and the world’s largest package delivery company has been testing the startup’s autonomous trucks since May on a busy freight route in Arizona.
China has to take necessary countermeasures to the latest U.S. tariffs on $300 billion of Chinese goods, the finance ministry said on Thursday.
U.S. stock index futures extended gains in volatile trading on Thursday, after data showed retail sales surged in July, which could help ease worries of a recession.
United Technologies and Raytheon Co have received requests for additional information from the antitrust division of the U.S. Department of Justice related to their $120 billion merger, according to a regulatory filing on Thursday.
U.S. retailer Walmart Inc reported an estimate-beating jump in second-quarter U.S. comparable sales on Thursday as shoppers spent more at its stores and websites, sending its shares up 5% in premarket trading.
U.S. stock index futures turned positive in volatile trading on Thursday, as investors digested conflicting reports on U.S.-China trade dispute, while a jump in retail giant Walmart’s shares helped dispel early gloom.
General Electric shares fell 5% on Thursday after the Wall Street Journal reported that Harry Markopolos, a whistleblower in the Bernard Madoff Ponzi case, had alleged that company financial filings masked the depths of its problems.
J.C. Penney Co Inc posted a smaller-than-expected second-quarter loss on Thursday, as the struggling retailer’s efforts to cut costs and shutter unprofitable businesses paid off.
China’s threat to impose counter-measures in retaliation for the latest U.S. tariffs knocked stocks sprawling on Thursday, checking earlier attempt to recover from a rout sparked by fears of a world recession.
The British Airline Pilots Association (BALPA) called on Ryanair to meet for mediated talks to resolve a dispute on pay and benefits to avoid two multi-day stikes planned by their members from next week.
J.C. Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Thursday, as the struggling department store operator stopped selling appliances and furniture in its stores.
Oil fell 3% to below $58 a barrel on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.
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