Business & Finance News
A sharp drop in Chinese economic growth will hit the profits of U.S. firms but sales by Apple and other American companies should recover once Washington strikes a trade deal with Beijing, a senior White House adviser said on Thursday.
The Dow Jones Industrial Average fell more than 600 points on Thursday as the biggest drop in more than a decade in the ISM U.S. manufacturing index added to nerves over slowing global growth sparked by a revenue warning from Apple.
U.S. stocks slumped on Thursday, after Apple Inc’s rare sales warning exacerbated fears that the Sino-U.S. trade war and a slowing China economy would eat into corporate profits, with weaker-than-expected U.S. factory data adding to nerves.
Grains trader Cargill Inc on Thursday reported a 20 percent drop in its fiscal second-quarter 2019 net earnings, as global trade tensions hit the bottom line along with challenges in the Chinese hog sector and a struggling U.S. dairy business.
General Motors Co said on Thursday that Mark Reuss would succeed Dan Ammann as president, effective immediately, as part of the automaker’s ongoing shift to electric and self-driving vehicles in North America and China.
Apple’s warning on revenue rocked financial markets on Thursday, as investors shunned equities and sought safety in bonds and less risky assets amid renewed concerns about slowing global economic growth and damage from the Sino-U.S. trade war.
U.S. private payrolls increased by the most in nearly two years in December, suggesting sustained strength in the labor market despite ongoing financial market volatility.
Grains trader Cargill Inc on Thursday reported a 20 percent drop in its fiscal second-quarter 2019 net earnings, amid global trade tensions, challenges in the Chinese hog sector and a struggling U.S. dairy sector.
Qualcomm Inc said on Thursday it posted security bonds of 1.34 billion euros ($1.52 billion) in order to be able to enforce a court order that will ban sales of some Apple Inc iPhones in Germany.
U.S. stocks opened lower on Thursday, weighed by a drop in the technology sector after Apple Inc’s rare sales warning inflamed fears that the Sino-U.S. trade war and a slowing China economy would eat into corporate profits more than expected.
Grain trader Cargill Inc on Thursday reported a 20 percent drop in its fiscal second-quarter 2019 net earnings, amid global trade tensions, challenges in the Chinese hog sector and a struggling U.S. dairy sector.
General Motors Co on Thursday named Mark Reuss president, effective immediately, tapping into his experience in driving the company’s global product development.
Food group Nestle said on Thursday a ruling by India’s Supreme Court marked a partial victory in its row with the government over Maggi noodles.
Oil prices rebounded on Thursday after an early slide, helped by dollar weakness and signs of output cuts by the world’s top crude exporter Saudi Arabia that eased concerns about a glut.
Bristol-Myers Squibb Co said on Thursday it would buy Celgene Corp for about $74 billion, creating a major pharma company with several blockbuster cancer drugs as competition in the immunotherapy space heats up.
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