Business & Finance News
Campbell Soup Co said on Thursday it plans to sell its international and fresh refrigerated-foods units and left open the possibility of putting the whole company up for sale, following a months-long review and pressure from hedge fund investors to sell itself outright.
Abercrombie & Fitch Co failed to take full advantage of an unusually long summer in Europe as its stock of Hollister brand of summerwear could not keep up with increased demand in the second quarter, sending its shares down as much as 14.6 percent.
Wells Fargo & Co has fired or suspended more than a dozen employees in its investment bank over alleged violations of the company’s expense policy regarding after-hours meals, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
U.S. stocks fell on Thursday, after four days of gains, weighed down by weak results from retailers and on rising concerns over the U.S.-China trade war that has weighed on markets for most of the year.
The U.S. economy is expanding at a 4.1 percent annualized rate in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday, following the release of the advanced economic indicators from the U.S. Census earlier this week.
Bank of America Corp’s wealth management arm Merrill Lynch is reintroducing brokerage capabilities to its retirement accounts, reversing a policy put in place to comply with Obama-era regulation.
An overhang of homeless crude in the Atlantic Basin has halved in recent weeks, suggesting oil traders are bracing for a further supply loss from Iran due to U.S. sanctions and a new rally in prices.
U.S. stock indexes were set to open lower on Thursday as optimism over U.S.-Canada trade talks was overshadowed by concerns over Washington’s tariff dispute with China, which has been the bigger weight on the market for most of the year.
China’s ZTE Corp said it expects to make a profit in the third quarter after recording its worst-ever first-half net loss on Thursday, the result of a U.S. supplier ban that forced the telecoms gear maker to halt operations for three months.
Dollar General Corp stuck to a plan for hefty investments in its store network, as it marginally increased its full-year outlook for sales on Thursday but kept profit forecast unchanged for the second quarter in a row.
U.S. consumer spending increased solidly in July, pointing to strong economic growth early in the third quarter, while a measure of underlying inflation hit the Federal Reserve’s 2 percent target for the third time this year.
Britain’s takeover regulator could take the rare step of intervening in the battle between Comcast and Twenty-First Century Fox for Sky next month by staging an auction for the broadcaster to bring the drawn-out bidding war to an end.
The number of Americans filing for unemployment benefits rose last week, but the underlying trend continued to point to a robust labor market that should keep the economy on a strong growth path this year.
German carmaker Volkswagen said only half of its VW branded passenger car models in Germany are compliant with a new pollution standard, thanks to a much tougher emissions testing regime.
Abercrombie & Fitch Co missed quarterly same-store sales estimates on Thursday, hurt by lower demand for its namesake line of apparel for teenagers and Hollister brand of surfwear.
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