Business & Finance News
Volkswagen posted forecast-beating third quarter profit, weathering a storm of lower car sales, higher spending and new pollution rules which dented earnings at rivals Daimler and BMW .
Pfizer Inc on Tuesday reported worse-than-expected third quarter revenue and lowered the top end of its full-year sales forecast as generic competition and drug pricing pressure in the United States hurt its older drugs business.
European shares labored in the red and China’s yuan hit a 10-year low on Tuesday as the prospect of an escalation in the U.S.-Sino trade war compounded the recent gloom in global markets.
U.S. home appliances maker Whirlpool will continue operations at its factories in Turkey’s western Manisa province, it said in a statement to Reuters on Tuesday, although it is exiting the domestic sales business in the country.
U.S. President Donald Trump’s administration took action on Monday to cut off a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole intellectual property from U.S. semiconductor company Micron Technology Inc .
General Electric Co said the U.S. Securities and Exchange Commission had expanded its probe of GE’s accounting to include a $22.8 billion writedown of goodwill from GE’s power division.
Coca-Cola Co’s quarterly revenue and profit beat analysts’ estimates on Tuesday, as investments to cater to changing consumer tastes paid off with higher sales of its sugar-free sodas and premium waters.
Uber defended its business model at the Court of Appeal on Tuesday in the latest stage of a long-running battle over the classification of its drivers as self-employed, a designation that entitles them to few workplace rights in Britain.
Mastercard Inc’s third-quarter profit rose 33 percent, it said on Tuesday, joining rival payments network Visa Inc in reporting higher earnings led by rising U.S. consumer spending.
Chesapeake Energy Corp is buying oil producer WildHorse Resource Development Corp in a nearly $4 billion deal, it said on Tuesday, as it looks to increase oil production capacity during a period of rising crude prices.
Under Armour Inc raised its full-year profit forecast on Tuesday after reporting third-quarter results that topped Wall Street estimates, as the sportswear maker benefited from higher overseas sales and lower expenses.
Coca-Cola Co reported quarterly sales and profit that beat Wall Street estimates on Tuesday, as more consumers reached for its sugar-free sodas, premium waters and sports drinks.
U.S. drugmaker Pfizer Inc cut the top end of its full-year revenue forecast range on Tuesday, citing a stronger dollar and lower revenue from its sterile-injections business.
Oil and gas producer Chesapeake Energy Corp is buying smaller firm WildHorse Resource Development Corp in a deal valued at nearly $4 billion, it said on Tuesday, as it looks to strengthen its operations in Southeast Texas.
General Electric Co slashed its quarterly dividend to just 1 cent per share and said it would split its power unit into two businesses as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate.
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