Business & Finance News
Pfizer Inc topped Wall Street estimates for quarterly profit on Tuesday, driven by higher sales of its cholesterol and arthritis drugs, but the biggest U.S. drugmaker lowered its full-year revenue forecast due to a stronger dollar.
U.S. stock index futures edged higher on Tuesday, with technology stocks looking to bounce back after a widespread sell-off in the earlier session on rising concerns about the future growth of high-flying companies.
Procter & Gamble Co’s quarterly sales fell below Wall Street estimates on Tuesday, as the consumer products company had a disappointing performance at its grooming unit that makes Gillette razors and shaving products.
With toilet roll and tissues swept up in an escalating international trade row, it’s not just Procter & Gamble’s Charmin that’s going to get the squeeze.
U.S. drugmaker Pfizer Inc posted a better-than-expected quarterly profit on Tuesday, driven by higher sales of pneumonia vaccine Prevnar and arthritis drug Xeljanz.
Panasonic Corp on Tuesday said it expects its battery business with U.S. electric vehicle maker Tesla to contribute to profit from the second half of its business year, as production of mass-market Model 3 cars picks up pace.
Honda Motor said the impact of U.S. steel and aluminum import tariffs on its bottom line had so far been limited, as it posted a surprise jump in quarterly profits to their highest in more than a decade on improving North American sales.
Pfizer Inc reported a 26 percent rise in quarterly profit on Tuesday, driven by higher sales of its drugs, including breast cancer treatment Ibrance.
Reassurance by the Bank of Japan that it will keep its super-easy monetary policies in place for an extended period pushed the yen and global bond yields lower on Tuesday, though mounting concerns about the tech sector kept world stocks under pressure.
Samsung Electronics Co Ltd posted its slowest quarterly profit growth in more than a year on Tuesday as its Galaxy S9 device missed sales targets and competition heated up, casting doubt on its leadership of the smartphone market.
Japan’s central bank pledged to keep its massive stimulus in place but made tweaks to reduce adverse effects of its policies on markets and commercial banks, reflecting its view it would take longer for inflation to hit its target.
Britain’s markets watchdog said it will take no enforcement action against Royal Bank of Scotland over alleged mistreatment of its small business customers in the wake of the financial crisis.
Volkswagen Chief Executive Herbert Diess named company veteran Ralf Brandstaetter as Chief Operating Officer of its core VW brand as part of a broader push to renew the carmaker’s senior management and strategy.
A no-deal Brexit would seriously damage the car industry in Britain and the European Union by raising costs and sowing chaos for carmakers and consumers alike, the head of Britain’s car industry warned on Tuesday.
BMW said it is investing 1 billion euros ($1.17 bln) in a new car factory in eastern Hungary, a project that could contribute to the country’s growth and strengthen its position as a center for premium car manufacturing in the region.
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