Business & Finance News
Asian stocks edged higher on Thursday, taking comfort from gains on Wall Street after U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to work toward eliminating trade barriers on industrial goods.
In what the EU chief called a “major concession,” U.S. President Donald Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers, easing the threat of a transatlantic trade war.
Facebook Inc’s shares lost as much as a quarter of their value on Wednesday after executives said that profit margins would plummet for several years due to the costs of improving privacy safeguards and slowing usage in the biggest advertising markets.
Qualcomm Inc , the world’s biggest maker of chips for mobile phones, said on Wednesday it would drop its $44 billion bid for NXP Semiconductors after failing to secure regulatory approval from China against a backdrop of widening trade tensions.
PayPal Holdings Inc on Wednesday reported a second-quarter profit that beat analysts’ estimates, but its forecast for third-quarter revenue came up short.
Ford Motor Co on Wednesday lowered its full-year earnings forecast due to slumping sales and trade tariffs in China and its struggling business in Europe, and said ongoing plans to revamp its business could lead to pre-tax charges of up to $11 billion over the next three to five years.
Mondelez International Inc on Wednesday reported a better-than-expected quarterly profit as it sold more Cadbury chocolates and Oreo cookies in Europe and North America, while keeping a lid on costs.
Advanced Micro Devices Inc beat estimates for quarterly profit and revenue on Wednesday, as a rare surge in demand for personal computers boosted sales of its processors, graphic chips, sending its shares up 5 percent in extended trading.
Nasdaq futures dropped 0.85 percent late on Wednesday, suggesting the technology-heavy Nasdaq Composite index would fall when trading opens on Thursday morning.
Mattel Inc’s quarterly sales missed analysts’ estimates on Wednesday, weighed down by the absence of a big movie tie-in in the quarter, while the liquidation of key customer Toys ‘R’ Us continued to hurt the U.S. toy maker.
Facebook Inc’s stock fell as much as 24 percent after hours on Wednesday over concerns about the impact of privacy issues on the social media company’s business, with executives warning that revenue growth would slow and expenses would rise.
A top German industry group gave a cautious welcome to solutions proposed by U.S. President Donald Trump and European Commission President Jean-Claude Juncker to avert a trade war, but warned that U.S. auto tariffs were not completely off the table yet.
U.S. President Donald Trump and the European Union’s chief executive, Jean-Claude Juncker, agreed on Wednesday to work toward eliminating trade barriers on industrial goods, as Trump appeared to give ground on his threat to impose car tariffs.
Facebook Inc on Wednesday warned revenue growth would slow in the second half of the year and said that expenses would grow faster than revenue next year, sending shares down as much as 22 percent over concerns about the impact of privacy issues on the social media company’s business.
Detroit automakers General Motors Co , Ford Motor Co and Fiat Chrysler Automobiles NV (FCA) lowered their full-year profit forecasts on Wednesday due to escalating tariffs, hitting their stocks as investors bet that escalating trade disputes would hurt margins and sales.
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