Business & Finance News
U.S. stocks were set for a flat to slightly higher open on Thursday, as investors assessed the latest batch of earnings, while the Federal Reserve dented hopes of interest rate cut.
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.
Canada’s Bombardier Inc said on Thursday it would unite its corporate and regional jet-making units into a single aviation division, as it continues focusing on its strongest businesses while shedding aerostructure facilities in Belfast and Morocco.
Canada’s Bombardier Inc shocked workers in Northern Ireland on Thursday by announcing it would sell its Belfast operation, the largest high-tech manufacturer in the British region, which employs 3,600 people.
Europe’s share markets struggled on Thursday and the dollar and bond yields trimmed overnight gains made after the U.S. Federal Reserve dampened bets that it might be readying its first interest rate cut in years.
Sales of higher-margin sports utility vehicles and cost cuts helped Volkswagen shrug off a 1 billion euro legal charge to meet first-quarter operating profit forecasts on Thursday, sending its shares 4.5 percent higher.
Kellogg Co said on Thursday that Chief Financial Officer Fareed Khan was stepping down and would be replaced by Amit Banati, who heads the Froot Loops maker’s Asia Pacific, Africa and Middle East business.
DowDuPont Inc reported a 28 percent fall in adjusted quarterly profit on Thursday, as floods in the U.S. midwest and a sluggish growth in auto and smartphone markets hit prices of its specialty and agricultural chemicals as well as volumes in North America.
Tesla Inc said on Thursday it had filed with regulators to launch around $2 billion in fundraising through issues of new shares and debt, with Chief Executive Officer Elon Musk pitching in $10 million of his own money to buy shares.
Caterpillar Inc said on Thursday it expects to increase dividend and buy back shares over the next four years, and forecast services revenue to surge in the coming years.
U.S. stock index futures were modestly higher on Thursday, as investors looked past the Federal Reserve’s patient stance on monetary policy and awaited more earnings reports.
Tesla Inc filed for a mixed shelf offering for an undisclosed amount on Thursday, a week after Chief Executive Officer Elon Musk suggested a capital raise could be imminent.
Indigo Partners and Lufthansa are among the likely bidders for Thomas Cook’s airline business, with a deadline of May 7 set for expressions of interest, sources said.
Trade unions in Belfast expressed shock on Thursday after Canada’s Bombardier Inc announced plans to sell its plant in the city, the largest high-tech manufacturer in Northern Ireland, which employs over 3,600 people.
UBS Group had to go to court in France to fight charges that the Swiss bank helped wealthy clients dodge taxes because it was unable to strike a reasonable settlement, Chairman Axel Weber told shareholders on Thursday.
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