Business & Finance News
Pernod Ricard has held “cordial and constructive” talks with the activist investor agitating for change at the French drinks group, CEO Alexandre Ricard said on Tuesday before dismissing speculation that it could become a takeover target.
Global economic growth is likely to stabilize at a new, slower pace, although China, trade wars and rising protectionism threaten the “delicate equilibrium”, Bank of England Governor Mark Carney said.
Nissan Motor warned its annual profit will plumb six-year lows on waning global sales, underlining the challenges it faces as it also grapples with the fallout from the shocking arrest and ouster of its former chairman Carlos Ghosn.
OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it starts new production cuts.
Shopify Inc beat analysts’ estimates for quarterly profit on Tuesday, but a slowing rate of growth in total sales by vendors using the ecommerce company’s software sent its U.S.-listed shares down about 7 percent before the bell.
U.S. stock index futures rose on Tuesday, as sentiment was lifted after lawmakers reached a tentative deal to avert another partial government shutdown and the United States and China expressed optimism about their ongoing trade talks.
Under Armour Inc, exceeded Wall Street estimates for quarterly profit on Tuesday, as the sportswear maker cut product sourcing costs and sold fewer discounted sneakers during the holiday shopping season.
Shopify Inc’s loss narrowed in the fourth quarter, the online store builder said on Tuesday, as it signed up more businesses and earned higher payment processing fees.
Under Armour Inc, reported quarterly revenue that edged past Wall Street estimates on Tuesday, as the sportswear maker discounted less and sold more sneakers at full price during the holiday season.
Oil prices gained nearly 2 percent on Tuesday, supported by OPEC-led production cuts which Saudi Arabia said it would surpass by over half a million barrels per day (bpd) and by U.S. sanctions against Iran and Venezuela.
The German government will consult further with telecoms operators and vendors before deciding whether to let Chinese firms such as Huawei Technologies participate in building future 5G mobile networks, a senior source said.
U.S. Treasury Secretary Steven Mnuchin looks forward to several important days of trade talks, he said on Tuesday after arriving in the Chinese capital for high-level talks to hammer out a deal ahead of a March 1 deadline.
El Al Israel Airlines said on Tuesday it was continuing to expand into North America with a nonstop flight during the summer months between Tel Aviv and Orlando.
Citigroup expects the majority of investment banking opportunities in the Middle East to come from Saudi Arabia and the United Arab Emirates this year, said Miguel Azevedo, Citigroup’s head of investment banking, Middle East and Africa.
French spirits group Pernod Ricard’s CEO Alexandre Ricard on Tuesday described talks with activist investor Elliott as “confidential, but cordial and constructive”.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
