Business & Finance News
World stocks and the dollar were broadly steady on Monday as a busy week of central bank meetings and company updates began, while Japanese government bonds sold off before possible monetary policy tweaks.
Delays to the planned sale of Toshiba’s NuGen nuclear project in Britain have prompted a review of the roles of 60 direct employees, who are mainly based in Manchester, raising further doubts over its future.
Harley-Davidson Inc said on Monday it would cut costs, launch new models including smaller light-weight motorcycles and revamp its dealer network in a plan to revive flagging sales in the face of rising global tariffs.
Caterpillar Inc on Monday upgraded the full-year profit outlook after earnings in the second quarter nearly doubled, beating market expectations, on the back of a robust global demand for its equipment.
Dow futures got a slight boost on Monday after an encouraging report from Caterpillar, a bellwether for global economic activity, while S&P and Nasdaq futures remained under pressure from technology stocks.
Caterpillar Inc on Monday posted higher quarterly profit that beat market expectations and upgraded the full-year profit outlook, citing robust global demand for its equipment.
Harley-Davidson Inc said on Monday it would spend as much as $275 million to revive growth through the launch of smaller light-weight motorcycles and greater focus on emerging markets in Asia.
State-owned carrier Air India has sought 21.21 billion rupees ($309 million) of additional equity from the government for the fiscal year 2018-19 to make pending payments to its vendors, a source at the airline told Reuters on Monday.
Deutsche Bank has begun clearing a “large part” of new euro-denominated derivatives trades in Frankfurt instead of London, a spokesman confirmed on Monday as a key Brexit battleground in financial services heats up.
World stocks fell and the dollar steadied on Monday as a busy week of central bank meetings and company updates started. Japanese government bonds sold off before possible monetary policy tweaks.
Building on President Donald Trump’s “Indo-Pacific” strategy, U.S. Secretary of State Mike Pompeo will announce a series of investment initiatives in Asia on Monday focusing on digital economy, energy and infrastructure.
Deutsche Bank has moved a “large part” of its euro clearing activity to Frankfurt from London, a spokesman confirmed on Monday.
China offered Britain talks on a post-Brexit free trade deal on Monday, reaching out to London as Beijing remains mired in an increasingly bitter trade war with Washington, even as a senior Chinese diplomat reiterated its door remained open for dialogue.
MMK, one of Russia’s largest steel producers, has postponed the launch of a lucrative project in Turkey due to uncertainty created by global trade wars, Andrey Eremin, the company’s director for economics, told Reuters in an interview.
Three banks and two aircraft leasing firms have served default notices on Air India over the last few weeks, the Business Standard newspaper reported on Monday, raising concerns about the government-owned carrier’s state of finances and credit-worthiness.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
