Business & Finance News
Chipmaker Intel Corp forecast current-quarter revenue below analysts’ estimates and cut full-year outlook on Thursday, sparking worries that an industry-wide slowdown could persist until the end of 2019, sending shares down 7 percent.
Starbucks Corp beat Wall Street estimates for quarterly sales at established cafes on Thursday, as higher prices and customer orders powered a strong growth in the United States, its largest market.
T-Mobile US Inc and Sprint Corp executives this week urged senior U.S. regulators to approve the proposed tie-up, saying the combined company would have the incentive to slash prices, according to a filing on Thursday.
Southwest Airlines Co forecast better-than-expected second-quarter revenue growth on Thursday, citing demand from leisure and business customers, even though it is uncertain when its grounded Boeing 737 MAX jets will return to service.
The dollar rose to almost a two-year high against the euro on Thursday on an upbeat U.S. capital goods report, while world equities slid as weak economic data from South Korea and a profit warning from 3M Co renewed concerns about global growth.
Morgan Stanley will pay $150 million to settle charges it misled two large California public pension funds about the risks of mortgage-backed securities they bought in the years leading up to the 2008 global financial crisis.
The United States on Thursday added China’s third-largest e-commerce platform to its list of “notorious markets” for violations of intellectual property rights and kept China on its priority watch list for piracy and counterfeiting concerns.
The S&P 500 was clinging to a small gain on Thursday as concerns about slowing global growth and a dive in industrials stocks overshadowed gains in Facebook and Microsoft.
Brent crude hit $75 per barrel on Thursday for the first time in nearly six months after quality concerns suspended some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran.
Canada’s Bombardier Inc cut its full-year profit and revenue forecasts on Thursday as it wrestled with production challenges in its key railcar-making unit, rattling markets ahead of the company’s annual general meeting next week.
Southwest Co Chief Executive Gary Kelly said on Thursday the company was sticking with its plan to keep growing its fleet with the 737 MAX made by Boeing Co and does not plan to order different aircraft models any time soon.
Glencore Plc said on Thursday that the U.S Commodity Futures Trading Commission (CFTC) is investigating whether the miner and its units may have violated certain regulations through “corrupt practices”.
Goldman Sachs Group Inc is expanding a financial advisory service for top executives to target millions of other affluent employees at some of the biggest U.S. companies, as it seeks to build its retail and wealth management businesses.
United Parcel Service Inc said it saw signs of softening in the U.S. economy and issued a disappointing second-quarter profit forecast, sending shares down 7 percent even as it promised a strong end to the year.
The U.S. Federal Aviation Administration said Thursday it is inviting top civil aviation officials from around the world to a May 23 meeting to discuss the now-grounded Boeing 737 MAX.
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