Business & Finance News
A plunge in Facebook Inc shares rattled the Amazon.com Inc options market on Thursday, with the social network’s fellow FAANG company due to report quarterly results later in the day.
Facebook’s slump set the Nasdaq on pace for its biggest drop in a month, but the contagion was contained by a rise in trade-sensitive stocks after the United States and the European Union said they would negotiate on trade.
World stock markets struggled to hold on to four-month highs on Thursday as a record sell-off in shares of Facebook Inc offset optimism that the European Union and the United States would settle their differences on trade.
McDonald’s Corp missed quarterly U.S. same-store sales estimates for the first time in at least two years amid fierce competition in a slack restaurant market, sending its shares down as much as 2.3 percent in midday trading.
Former Fiat Chrysler Chief Executive Sergio Marchionne was having treatment for a serious illness for more than a year before his death on Wednesday, University Hospital Zurich (USZ) said on Thursday.
White House economic adviser Larry Kudlow said on Thursday that European Commission President Jean-Claude Juncker had pledged to U.S. President Donald Trump that he would help the United States confront China over its trade practices.
Hedge funds betting Qualcomm would succeed in a $44 billion bid for NXP Semiconductors face steep losses after the deal fell through – taking the shine off a strong start to the year for many funds.
Market leading music streamer Spotify added 10 percent more paid subscribers in the second quarter and said it was on track to meet its full-year targets as it downplayed reports it was losing ground to rival Apple Music in the United Sates.
The United States will press ahead with European trade talks and also aim to strike a deal with Mexico and Canada in stalled negotiations over the North American Free Trade Agreement, U.S. Treasury Secretary Steve Mnuchin said on Thursday.
McDonald’s Corp on Thursday missed U.S. same-store sales estimates for the first time in at least two years as it faces fierce competition in a slack restaurant market, sending its shares down as much as 1.5 percent in early trading.
Mercedes maker Daimler blamed U.S.-China tariffs for a 30 percent drop in second-quarter profit and predicted a further decline as new emissions test standards hit sales.
World stock markets struggled to hold on to four-month highs as a massive selloff in shares of Facebook Inc offset optimism that the European Union and the United States would settle their differences on trade.
Daimler Chief Executive Dieter Zetsche said the introduction of the new WLTP emissions testing procedure was causing delays getting Mercedes-Benz vehicles certified for road worthiness, distorting supply and demand.
The 3M Co. has agreed to pay $9.1 million to settle allegations it knowingly sold defective combat ear plugs to the U.S. military without disclosing defects that limited the effectiveness of the hearing protection devices, the U.S. Justice Department said on Thursday.
Comcast Corp on Thursday reported a quarterly profit that beat Wall Street estimates as it added more than expected high-speed internet customers amid its push to diversify away from pay-TV, despite shedding an increasing number of cable TV subscribers.
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