Business & Finance News
Higher panel prices ahead of the year-end holidays propelled South Korea’s LG Display Co Ltd to a third-quarter profit, although analysts doubt the good times will last.
Railroad operator Union Pacific Corp said on Tuesday it would cut 475 employees in the fourth quarter and signaled more workforce reductions to come as it seeks to boost profitability by the end of 2020.
Target Corp, aiming to one-up retail rivals during the upcoming U.S. holiday shopping season, said on Tuesday it was adding more delivery and pickup options for online shoppers to have items shipped to their homes or ready for quick pick-up at local stores.
A three-week stock market sell-off may signal concerns that the massive stimulus from U.S. tax cuts and government spending will fade sooner than expected, a central issue for the Federal Reserve as it considers when to halt interest rate hikes.
Caterpillar Inc tried on Tuesday to ease mounting concerns about China and global demand after it affirmed its 2018 profit estimate, a move that investors feared signaled a cap in earnings growth and sparked a sell-off in its shares.
U.S. stocks fell on Tuesday after worries about the earnings outlook added to recent selling pressure, though major indexes ended well off the day’s lows as investors snapped up beaten-down shares late in the session.
American Express Co has received subpoenas from the U.S. Department of Justice and inquiries from other federal agencies related to its foreign exchange international payments business, the credit card issuer said on Tuesday.
Target Corp, aiming to one-up retail rivals during the upcoming U.S. holiday shopping season, said on Tuesday it was adding more delivery and pickup options for online shoppers to have items shipped to their homes or ready for quick pick-up at a local store.
Texas Instruments Inc posted smaller-than-expected quarterly revenue on Tuesday and forecast current quarter sales and profit below analysts’ estimates as the chipmaker wrestled with slowing demand for its products.
Wall Street indexes fell in Tuesday’s volatile session though they had pared losses sharply by the closing bell as investors looked for bargains, but oil dropped sharply on demand worries.
Chipmaker Texas Instruments Inc reported a 3.5 percent rise in quarterly revenue on Tuesday as it benefited from higher sales of semiconductors used in cars and industrial machinery.
U.S. company earnings growth is slowing after a bumper start to the year, and the reality of an escalating trade war between two of the world’s largest economies is starting to weigh on companies ranging from Caterpillar Inc to Ford Motor Co .
Oil giant Saudi Aramco will sign 15 deals worth more than $30 billion, said Saudi state-owned TV Ekhbariya.
Saudi Arabia’s crown prince trumpeted on Tuesday a conference that has drawn investment deals worth $50 billion despite a boycott over the killing of journalist Jamal Khashoggi, declaring the event as “great – more people more money”.
SoftBank Group Corp Chief Executive Masayoshi Son, whose $93 billion Vision Fund drew nearly half its money from Saudi Arabia, canceled a speaking engagement at the kingdom’s investment conference this week, two people familiar with the matter told Reuters.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
