Business & Finance News
Major automakers on Wednesday reported lower U.S. new vehicle sales for July amid steep declines in passenger cars, except Fiat Chrysler Automobiles NV (FCA) , which said its sales climbed 6 percent.
Sprint Corp on Wednesday topped analysts’ estimates for quarterly profit and new wireless subscribers, but said the higher prices for its revamped phone plans could affect future growth.
General Motors Co said on Wednesday it has tapped a former Trump administration economic and trade adviser to head its public policy efforts.
Tesla Inc is looking to raise a portion of the $5 billion it needs to build its factory in Shanghai from local Chinese partners, Bloomberg reported on Wednesday, citing a source familiar with the matter.
U.S. manufacturing activity slowed in July amid signs that a robust economy and import tariffs were putting pressure on the supply chain, which could hurt production in the long term.
Shares of Apple Inc hit a record high on Wednesday and neared a $1 trillion valuation, after the company forecast blowout current-quarter sales and analysts said a September launch of new iPhones set the stage for sustained growth.
The chief executive of Germany’s Uniper , Klaus Schaefer, will take a break from running the company while he is being treated for cancer, the utility said.
U.S. stocks rose on Wednesday as Apple’s robust earnings report boosted shares of technology companies and eased worries over an escalating trade war between the United States and China.
U.S. stocks opened higher on Wednesday after Apple’s strong earnings boosted technology companies and helped ease concerns over future growth of the tech sector.
Resolving bottlenecks caused by tougher emissions rules could cost Volkswagen more than 1 billion euros, Chief Financial Officer Frank Witter said on Wednesday.
Nissan Motor Co and authorities in an Indian state are close to settling a dispute over which the Japanese carmaker initiated international arbitration seeking more than $729 million in unpaid dues and damages, sources told Reuters.
Sanofi and Novartis said on Wednesday they planned to increase stockpiles of medicines Britain in preparation for potential disruption if the UK crashes out of the European Union without a deal.
Dow futures dipped on Wednesday due to fears that the trade war between the United States and China was escalating, while Nasdaq futures got a lift from Apple’s stellar results that helped ease concerns over the future growth of the tech sector.
Activist investors Cevian and Elliott have renewed calls for structural changes at ThyssenKrupp after the German industrial conglomerate cut its earnings guidance late on Tuesday.
Apple Inc may have just notched up its fourth straight quarter of double-digit revenue growth in China but the shine quickly came off that stellar performance as Chinese state media stepped up a tirade of criticism against the smartphone giant.
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