Business & Finance News
The U.S. economy is expected to lose $3 billion from the 35-day partial federal government shutdown over President Donald Trump’s demand for border wall funding, congressional researchers said on Monday.
Oil headed for its biggest one day drop in a month on Monday on evidence of yet more growth in U.S. crude supply, although the price is still on course for its strongest January gain for 14 years.
U.S. stocks dived on Monday, as weak forecasts from Caterpillar Inc and Nvidia Corp fueled worries about a slowdown in China taking a bigger bite off corporate profits.
Wall Street analysts expect Tesla Inc to forecast a loss for the first quarter when it reports results on Wednesday, having changed their expectations for a profit after Chief Executive Officer Elon Musk warned of a “very difficult” road ahead.
Brazilian miner Vale SA’s shares plunged on Monday, wiping out nearly 62 billion reais ($16.4 billion) in market value, after a tailing dam collapse on Friday killed at least 60 people and left 292 missing with slim hopes for recovery.
When Germany signed a deal last month to help Bolivia exploit its huge lithium reserves, it hailed the venture as a deepening of economic ties with the South American country. But it also gives Germany entry into the new “Great Game”, in which big powers like China are jostling across the globe for access to the prized electric battery metal.
Tesco, Britain’s biggest retailer, said on Monday it was making changes to its UK business that could impact up to 9,000 jobs.
U.S. stocks fell at open on Monday, as disappointing forecasts from Caterpillar and chipmaker Nvidia set a dour note for an earnings-heavy week that also includes a Federal Reserve meeting and a fresh round of U.S.-China trade talks.
Saudi Aramco is pushing for a top credit rating ahead of its first international bond sale, but Saudi Arabia’s sluggish economy may curb the state-owned oil firm’s ambitions.
Caterpillar Inc on Monday reported quarterly profit that widely missed Wall Street estimates, hurt by softening demand in China, a strong dollar, and higher manufacturing and freight costs, sending shares tumbling 6 percent.
David Crane, former chief executive of U.S power company NRG Energy, will exercise the voting rights for Russian bank VTB’s stake in EN+, as part of the agreement for the United States to waive sanctions against the company previously controlled by Oleg Deripaska, a source close to the matter said.
The London Stock Exchange lifted the suspension on En+ Group’s London-listed global depositary receipts (GDRs) available to U.S. investors, a spokeswoman said on Monday after Washington dropped sanctions on the Russian company.
Oil fell nearly 2 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest January gain for 14 years.
Brazilian miner Vale SA’s shares plunged on Monday, wiping out nearly 52 billion reais ($13.84 billion) in market value, after a tailing dam collapse on Friday killed at least 60 people.
Russia’s communications watchdog is carrying out checks to establish whether U.S. consumer goods group Procter & Gamble and Burger King are complying with local data laws, a spokesman for the watchdog said on Monday.
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