Business & Finance News
China’s biggest auto industry association has cut its sales forecast for this year due to slowing economic growth, and now expects sales to fall for the second year running.
French energy giant Total will sell about $5 billion of assets, mostly from its exploration and production business as it sharpens its focus on low-breakeven projects that can weather weak oil prices, it said on Thursday.
U.S. stocks fell on Thursday after a handful of mixed earnings reports pointed to a slowing global economy, and as the European Central Bank chief’s comments on monetary policy failed to impress investors.
The U.S. economy grew at a 1.3% annualized rate in the second quarter based on June data on domestic durable goods orders and advance goods trade, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.
Bristol-Myers Squibb , which is set to buy biotechnology company Celgene Corp soon for $74 billion, posted better-than-expected second-quarter earnings on Thursday on strong sales from its blood thinner Eliquis and rheumatoid arthritis treatment Orencia.
Italian caterer Autogrill said on Thursday it had signed an exclusive multi-year agreement with bakery chain Panera Bread to develop outlets in U.S. airports and motorways.
Chocolate maker Hershey Co said on Thursday its new price hikes would not add to its profit and sales in the remaining two quarters and gave a dull full-year forecast, sending its shares down as much as 5%.
Kenya will take at least 21 months to take back full control of its national carrier Kenya Airways , buying out minority shareholders and converting shares held by banks into Treasury bonds, a lawmaker briefed on the transaction said.
Wall Street opened slightly lower on Thursday after a clutch of earnings reports pointed to a slowing global economy, while the European Central Bank opening the door to future interest rate cuts limited losses.
J.P. Morgan on Thursday trimmed its prior estimate on U.S. economic growth in the second quarter to 1.00% even in the wake of a larger-than-forecast increase in domestic durable goods orders and a shrinkage in trade goods deficit in June.
Auto sales in China are seen falling 5% year-on-year to 26.68 million units in 2019, the country’s top industry association said.
Wall Street opened slightly lower on Thursday after a clutch of earnings reports pointed to a slowing global economy, while the European Central Bank opening the door to future interest rate cuts limited losses.
Power producer PG&E Corp said on Thursday its initial contribution to California’s wildfire fund would be about $4.8 billion, and annual contribution about $193 million.
New orders for key U.S.-made capital goods surged in June, but the jump will probably not change expectations that business investment contracted further in the second quarter and contributed to holding back the economy.
Shares of Tesla Inc sank 11 percent on Thursday, on course to knock more than $5 billion off the electric carmaker’s market value, a day after it disappointed Wall Street by softening its language on turning a profit this year.
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