Business & Finance News
U.S. stocks fell more than 1 percent on Tuesday and were on course to end a four-day rally on fears of slowing global growth after the International Monetary Fund trimmed its outlook and weak forecasts by companies, including Johnson & Johnson.
Carrefour , Europe’s largest retailer, said on Tuesday that sales growth slowed in the fourth quarter, as 10 weeks of anti-government protests hurt hypermarket sales in its core French market.
Loss-making carmaker Bentley is on track to be profitable this year but a no-deal Brexit puts that at “fundamental risk”, its boss told Reuters, adding that the chance of Britain leaving the EU on March 29 with a deal now seemed “fairly low.”
Crude prices tumbled more than 3 percent on Tuesday over concerns that China’s slowing economy could curtail fuel demand worldwide as forecasters predicted weaker global growth amid the U.S.-China trade war.
A gauge of global stock markets fell on Tuesday, putting a four-session winning streak in jeopardy, as concerns over global growth spurred investors to look towards safe-haven assets such as the Japanese yen and government bonds.
China’s Huawei Technologies wants a quick resolution of the case of its former finance chief Meng Wanzhou, who is accused of violating U.S. sanctions on Iran and has been detained in Canada, its chairman said on Tuesday.
James Dyson, the billionaire Brexit supporter who revolutionized vacuum cleaners with his bagless technology, is moving his corporate office and tax registration to Singapore from Britain to be closer to his fastest growing markets.
U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply, suggesting a further loss of momentum in the housing market.
Colfax Corp is pressing ahead with plans to sell its air and gas handling unit Howden as part of a shift to focus on the medical devices industry and has hired Goldman Sachs to handle the process, four sources close to the matter told Reuters.
Shares of oilfield firm Halliburton Co fell sharply on Tuesday after the company forecast lower revenues in key business areas next quarter, overshadowing a quarterly profit beat and a pledge to reduce 2019 spending.
U.S. power producer PG&E Corp’s shares surged more than 10 percent on Tuesday after it said it had secured $5.5 billion in debtor-in-possession (DIP) financing from four banks as it prepares to file for Chapter-11 bankruptcy protection.
Hedge funds Elliott Management and Starboard Value have taken stakes in eBay Inc and urged changes at the e-commerce platform including the sale of some of its businesses, which could release billions of dollars in capital.
Saudi Aramco, the world’s top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend “billions of dollars” there as it aims to become a global gas player, the company’s CEO said on Tuesday.
U.S. stocks fell on Tuesday, weighed by losses in the industrials and technology sectors, as fears of slowing global economic growth resurfaced after the International Monetary Fund trimmed its outlook in a week of heavy corporate earnings.
U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply, suggesting a further loss of momentum in the housing market.
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