Business & Finance News
Bombardier put its Belfast wing-making factory on the block as part of a wider shake-up, while the plane and train maker’s failure to commit to meeting its 2020 goals knocked as much as 10 percent off its shares.
U.S. worker productivity increased at its fastest pace in more than four years in the first quarter, depressing labor costs and suggesting inflation could remain benign for a while.
Tesla Inc announced plans to raise up to $2.3 billion in new capital on Thursday, easing Wall Street concerns over the electric carmaker’s ability to see through its ambitious investment plans while it works to deliver a steady profit.
Global equity markets dipped for a second straight day on Thursday and the dollar and bond yields rose as the Federal Reserve was now seen as less likely to cut U.S. interest rates this year in the wake of comments from Chairman Jerome Powell.
Theresa May hoped firing her defense secretary over a leak would put her latest government scandal to rest. But it seems only to have unleashed yet another political storm for the British prime minister, with members of her own party questioning her judgment and opponents demanding the police be called in.
Airbus on Thursday declined to say whether it was interested in buying Bombardier’s Belfast plant after the Canadian firm put it up for sale, but described the Northern Ireland facility as a “key supplier”.
U.S. private equity firm Blackstone Group has launched legal action against the chairman and controlling shareholder of Italian publisher RCS Mediagroup over a disputed property sale, a copy of the lawsuit showed.
U.S. stocks edged higher on Thursday as a handful of positive earnings reports helped investors look past the Federal Reserve’s policy decision that dented hopes of interest rate cuts.
Caterpillar Inc will issue a record dividend for the second quarter, up 20 percent from its previous payout, and plans to further increase returns to shareholders over the next four years, the company said on Thursday ahead of its investor day presentation.
Canada’s Bombardier Inc on Thursday shied away from pledges to meet 2020 financial objectives, and shares of the train and plane manufacturer sank as much as 10 percent in morning trading, as company cited headwinds in its rail division and announced new restructuring efforts.
Foxconn chairman Terry Gou met at the White House with President Donald Trump to discuss the status of the company’s planned investment in Wisconsin, the company said Thursday.
Volkswagen said it has set aside 5.5 billion euros ($6.16 billion) in contingent liabilities to cover possible risks arising from a diesel cheating scandal, chief financial officer Frank Witter said on Thursday.
Kellogg Co said on Thursday it will replace its chief financial officer, and the cereal, breakfast foods and snacks maker reported a 36.5 percent decline in first-quarter earnings, citing a strong U.S. dollar and higher costs.
UBS Group shareholders refused on Thursday to endorse the performance of the Swiss bank’s leadership last year in a rare rebuke sparked by a French conviction for helping wealthy clients evade taxes.
Goldman Sachs Group Inc said on Thursday that shareholders voted to elect all of the company’s directors and that more than 90 percent of votes favored its executive pay packages.
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