Business & Finance News
The former assistant chairman of China’s banking regulatory commission has been sentenced to 16 years in prison for accepting bribes, state media said on Thursday, as the Chinese government clamps down on corruption.
Facebook Inc Chief Executive Officer Mark Zuckerberg’s fortune took an almost $16 billion hit on Thursday, as the social media giant headed for the biggest one-day wipeout in U.S. stock market history, a day after executives forecast years of lower profit margins.
Tomahawk missile maker Raytheon Co on Thursday raised its earnings forecast for 2018 and reported stronger than expected results, but its shares fell on investor concerns about lower cash flow for the year.
The Nasdaq Composite fell on Thursday as Facebook led a selloff in technology stocks, but the Dow gained as fears of a transatlantic trade war eased after the European Union and the United States agreed to negotiate on tariffs.
German carmaker Daimler on Thursday said it was looking at ways to mitigate the impact of a trade war between China and the United States, a step which includes a review of whether to shift some U.S. production to Asia.
Sky posted double-digit earnings growth after it added another 500,000 customers in its latest financial year, showing why Comcast and Rupert Murdoch’s Fox are slugging it out to buy the European pay-TV leader.
U.S. trade officials will immediately focus on resolving steel and aluminum tariff issues with the European Union, while a broader trade agreement between the parties likely rolls out in stages over the next year, U.S. Treasury Secretary Steven Mnuchin said on Thursday.
New orders for key U.S.-made capital goods increased more than expected in June and shipments surged, pointing to solid growth in business spending on equipment in the second quarter.
Music streaming leader Spotify’s paid subscriptions rose 10 percent in the second quarter, thanks to family plans that attracted new users and kept them loyal as the Swedish company races to stay ahead of Apple Music .
A massive selloff in shares of Facebook set the tech-heavy Nasdaq on track to shed about 100 points at the open on Thursday, while S&P and Dow futures got a boost from signs the United States and the European Union will negotiate on trade.
Facebook Inc Chief Executive Officer Mark Zuckerberg’s fortune is set to take a $16 billion hit on Thursday, as the social media giant braces for the biggest one-day wipeout in U.S. stock market history, a day after its executives forecast years of lower profit margins.
Nokia’s second-quarter sales of IP routers were held back by component supply shortages, the network equipment maker’s chief executive said on Thursday.
Mastercard Inc beat second-quarter profit estimates on Thursday but the world’s second-largest payments processor raised its full-year guidance for expenses, sending its shares 3 percent lower before the opening bell.
NXP Semiconductors followed Qualcomm Inc in announcing share buybacks worth billions of dollars on Thursday as the companies sought to compensate investors for the collapse of their $44 billon merger due to Chinese opposition.
McDonald’s Corp topped global same-restaurant sales estimates for the second quarter on Thursday, with strength in international markets helping offset weakness in the United States.
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