Business & Finance News
U.S. stocks fell about 2 percent on Thursday as a key gauge of factory activity suffered its biggest drop in a decade, rattling investors already spooked by a rare profit warning from Apple Inc .
Sweden’s Volvo is setting aside 7 billion Swedish crowns ($778 million) to cover costs related to its admission in October that its truck and bus engines could be exceeding limits for nitrogen oxide emissions.
Apple Inc is likely to pull some iPhone models from its German stores after Qualcomm Inc said on Thursday it had posted security bonds to enforce a court order banning the sale of those iPhone models in the country.
Major automakers on Thursday shrugged off declines in U.S. new vehicle sales in December and said they were bullish about 2019 even as economists warned that rising interest rates will discourage consumers from buying cars in the year ahead.
U.S. manufacturing activity slowed sharply to a two-year low in December amid a plunge in new orders and hiring at factories, which could further stoke concerns about how immune the U.S. economy is to a global growth slowdown.
Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce.
Apple’s first sales warning in nearly 12 years sent European shares sliding on Thursday, with the tech sector particularly badly bruised as chipmakers that supply the iPhone maker fell sharply.
Major automakers on Thursday posted a weak finish to the year for U.S. new vehicle sales but remained bullish on the outlook for the economy even as much of the industry braced for what is widely expected to be a worse year in 2019.
The United Auto Workers union sued General Motors Co in federal court on Thursday, claiming the automaker’s use of temporary workers at a plant in Indiana violates its labor deal.
Airbus narrowed a sales gap against U.S. rival Boeing by finalising orders for 120 of the former Bombardier CSeries jet, but shares in Europe’s top planemaker fell as doubts surfaced over a target for overall 2018 deliveries.
Bristol-Myers Squibb Co said on Thursday it would buy Celgene Corp for about $74 billion, creating one of the biggest pharmaceutical companies and combining two significant cancer drug businesses.
Wall Street sank 2 percent on Thursday as weak U.S. factory data and the fallout of a rare sales warning from Apple Inc fanned fears of slowing growth and spurred the latest leg of a selloff that has sent indexes to their lowest since mid 2017.
A gradual rise by the Japanese yen in recent weeks culminated in a dramatic overnight surge — firing a warning shot for world markets and the global economy in 2019.
OPEC oil supply fell in December by the largest amount in almost two years, a Reuters survey found, as top exporter Saudi Arabia made an early start to a supply-limiting accord while Iran and Libya posted involuntary declines.
Shares of Delta Air Lines Inc dropped 10 percent on Thursday, after the U.S. carrier warned fourth-quarter unit revenue would be slightly below its prior forecast due to the lower-than-expected improvement in last-minute fares booked by travelers.
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