Business & Finance News
Boeing Co’s top two U.S. customers warned on Thursday of an increasing financial toll from the prolonged grounding of the 737 MAX jet, which prompted a “frustated” Southwest Airlines Co to announce it was ending operations at Newark Liberty International airport.
U.S. stocks backed off record highs and bond yields rose following mixed earnings and rosier-than-expected economic sentiment from the European Central Bank’s governor.
U.S. stocks slid on Thursday after a handful of downbeat earnings pointed to a slowing global economy and as European Central Bank chief Mario Draghi’s comments disappointed investors who were hoping for a more dovish stance.
Bristol-Myers Squibb Co , which is set to buy biotechnology company Celgene Corp for $74 billion, posted better-than-expected second-quarter profit on Thursday on strong sales of blood thinner Eliquis and rheumatoid arthritis treatment Orencia.
Twitter Inc will have a chance to detail its plans to grow users and ad dollars on Friday when it releases its second-quarter earnings before the market opens.
Shares of Tesla Inc sank 14% on Thursday and its bonds traded lower, a day after the electric carmaker said it needed more time to turn a profit, reported lower margins and announced the departure of a key executive.
The U.S. Federal Aviation Administration has no specific timeline for the return to service of Boeing Co’s 737 MAX, which has been grounded following two deadly crashes, the agency’s acting administrator said on Thursday.
Dow Inc forecast current-quarter revenue below analysts’ expectations on Thursday and cut 2019 spending as chemical companies grapple with U.S.-China trade dispute and an oversupply of chemicals used to make plastics.
The acting administrator for the U.S. Federal Aviation Administration said on Thursday that the agency had no specific timeline for the return to service of Boeing Co’s 737 MAX, which has been grounded in the wake of deadly crashes.
New orders for key U.S.-made capital goods surged in June, suggesting some improvement in business investment, but economic growth is still expected to have slowed sharply in the second quarter amid weaker exports and a smaller inventory build.
U.S. stocks slipped on Thursday after a handful of disappointing earnings pointed to a slowing global economy and as European Central Bank signaled monetary policy easing in the future, underwhelming investors who had expected more.
American Airlines Group Inc and Southwest Airlines Co warned on Thursday of an increasing financial toll from the prolonged Boeing 737 MAX grounding this year even as strong bookings and higher fares helped drive quarterly revenue growth.
Four major automakers said on Thursday they have reached a voluntary agreement with the state of California on fuel efficiency rules, bypassing a Trump administration effort to strip the state of the right to fight climate change by setting its own standards.
U.S. stocks stumbled out of the starting gate and bond yields gained ground following mixed earnings and a rosier-than-expected statement from the European Central Bank’s governor.
Oil prices rose about 1% on Thursday amid Middle East tensions and a big decline in U.S. crude stockpiles, but gains were capped due to lingering worries about slowing economic growth that could reduce fuel demand.
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