Business & Finance News
U.S. stocks were set to tumble on Thursday as the arrest of a top executive of Chinese tech giant Huawei for extradition to the United States sparked fears of a flare-up in Sino-U.S. tensions, while sliding oil prices added to the pressure.
German auto supplier Bosch expects global car production in 2019 to languish at this year’s level, the head of its core auto parts unit said on Thursday, citing a cool-down in China and lower demand for diesel cars in Europe.
The arrest in Canada of Meng Wanzhou, a top executive at China’s Huawei Technologies Co Ltd and daughter of the founder and CEO, jolted the global business community on Thursday and raised fears that a truce in the U.S.-China trade war could come to a swift end.
Kroger Co reported quarterly same-store sales that fell short of analysts’ estimates on Thursday, hurt by disruptions caused by revamping the layout of its stores to give more shelf space to its best selling products.
Oil tumbled in a volatile session on Thursday after OPEC signaled it may agree to a smaller output cut than expected and as concern over the economic impact of trade tensions hit global stock markets.
Royal Dutch Shell has concluded that a Nigerian oilfield sale where it suspects an executive took bribes was not linked to a separate court case in which he and Shell face corruption charges over a $1.1 billion offshore acquisition.
OPEC agreed on Thursday a tentative deal to cut oil output but has not yet come up with a final figure, an OPEC delegate said.
JPMorgan Chase & Co’s trading desk was not buying what U.S. President Donald Trump was selling this week.
France’s competition authority on Thursday fined six home appliance makers a total of 189 million euros ($214 million) for price-rigging in 2006 and 2009, the largest penalty it has handed out so far this year.
U.S. stock index futures fell more than 1.5 percent on Thursday, as the arrest of a top executive of Chinese tech giant Huawei for extradition to the United States sparked fears of a flare-up in Sino-U.S. tensions, while sliding oil prices added to the pressure.
Global stock markets slumped for a third day running on Thursday as the arrest of a top executive of Chinese tech giant Huawei in Canada for extradition to the United States fed fears of fresh tensions between the two economic superpowers.
The U.S. Justice Department goes before an appeals court on Thursday to urge a three-judge panel to overturn a lower court ruling and order wireless carrier AT&T Inc to undo its $85.4 billion purchase of entertainment company Time Warner, one of the largest media mergers ever.
Ride-hailing company Lyft Inc on Thursday filed with the U.S. Securities and Exchange Commission for an initial public offering, ending months of speculation about the timing of its much-awaited market debut.
Facebook Inc’s losses are becoming other companies’ gains.
Volkswagen announced another 3 billion euros ($3.4 billion) of cost cuts on Thursday in an effort to speed up an improvement in profit margins at its core VW brand.
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