Business & Finance News
U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February.
A dovish tone from Fed Chairman Jerome Powell lifted world stocks to their highest in more than two weeks on Thursday, but an uncompromising tone from U.S. President Trump on trade dampened optimism and set U.S. stocks up for a weaker open.
Oil reversed course and rose on Thursday, after industry sources said Russia had accepted the need to cut production, together with OPEC.
Unilever’s Chief Executive Paul Polman will retire in January after 10 years in the job, leaving insider Alan Jope to step into his shoes after the group’s failed attempt to shift its headquarters.
Abercrombie & Fitch Co forecast same-store sales for the holiday quarter above analysts’ estimates on Thursday, driven by strong sales at its Hollister and flagship stores, sending its shares soaring as much as 16.3 percent in premarket trading.
Police raided six Deutsche Bank offices in and around Frankfurt on Thursday over money laundering allegations linked to the “Panama Papers”, the public prosecutor’s office in Germany’s financial capital said.
Apparel retailer Abercrombie & Fitch Co topped quarterly same-store sales estimates on Thursday, driven by higher sales at its Hollister and flagship stores.
U.S. stock index futures fell on Thursday, following a sharp rally in the prior session after Federal Reserve Chair Jerome Powell eased worries about monetary tightening, as focus shifts to a high stakes U.S.-China trade talk at the G20 Summit.
Fiat Chrysler pledged on Thursday to spend more than 5 billion euros ($5.7 billion) on new models and engines in Italy between 2019-2021 in a bid to fill under-utilized plants, conserve jobs and boost operating margins in Europe.
Ford warned that Prime Minister Theresa May’s Brexit agreement should be backed to avoid a no deal “catastrophe” but said that a guarantee on long-term frictionless trade, which is key to the future of its British plants, is not clear enough.
U.S. stock index futures fell on Thursday, following a sharp rally in the prior session after Federal Reserve Chair Jerome Powell eased worries about monetary tightening, as focus shifts to a high stakes U.S.-China trade talk at the G20 Summit.
Germany’s antitrust authority has launched an investigation into whether U.S. ecommerce giant Amazon is exploiting its market dominance in its relations with third-party retailers who use its website as a marketplace.
The replacement of Unilever’s CEO Paul Polman was not connected to a shareholder row earlier this year over a proposed move of the headquarters of the Anglo-Dutch consumer goods company from Britain to the Netherlands, said the group’s chairman.
Unilever Chief Executive Paul Polman is retiring less than two months after a damaging row with shareholders and will be succeeded in January by Alan Jope, the head of the Anglo-Dutch group’s beauty business.
Oil fell on Thursday, bringing losses for the month so far to 23 percent, marking its largest one-month fall since the depths of the financial crisis in 2008.
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