Business & Finance News
China’s Alibaba Group Holding Ltd lowered its full-year sales forecast on Friday due to concerns about the economic impact of a U.S.-China trade spat, which the company expects will dent revenue ahead of its top sale season.
The United States is expected to spare eight countries from U.S. sanctions because they have significantly cut imports of Iranian oil, two sources familiar with the matter said on Friday.
U.S. oil and natural gas producer Chevron Corp said on Friday its quarterly profit doubled as record oil and gas production helped overcome a series of one-time items.
AbbVie Inc beat Wall Street estimates for third-quarter profit on Friday, driven by strong sales of blockbuster cancer medicine Imbruvica, and the drugmaker raised its 2018 earnings forecast, sending its shares up 4 percent.
AbbVie Inc said on Friday it was confident that its earnings would grow in the double digits in 2019, in spite of the launch of biosimilar versions of its best-selling rheumatoid arthritis drug Humira in the European Union.
U.S. stock index futures were higher on Friday on hopes the United States and China would begin efforts to resolve their trade dispute, but gains were capped by a strong monthly jobs data that raised concerns of faster interest rate hikes.
World shares rallied on Friday on hopes that the United States and China were starting to repair their badly damaged trade relations, while bumper U.S. wage data helped the dollar regain some strength.
Tesla Inc said on Friday that is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.
U.S. stock index futures dipped lower on Friday, after a Labor Department report showed U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in nine-and-a-half years.
U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December.
Tesla Inc said on Friday it is looking to reduce the impact of tariffs on its Model 3 sedan by building more cars in Shanghai, China.
Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts’ estimate on higher prices received for its oil and natural gas but its production volumes fell on a year-over-year basis.
World share markets roared higher on Friday as hopes built that the United States and China were starting to repair their badly damaged trade relations.
AbbVie Inc beat Wall Street estimates for third-quarter profit and raised its earnings forecast for the year on Friday, driven by strong sales of blockbuster cancer medicine Imbruvica.
Digital mapmaking company TomTom will consider whether to go it alone or pursue partnerships if it sells a fleet management business which may account for more than half its current value, its chief executive told Reuters.
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