Business & Finance News
Mastercard Inc beat Wall Street estimates for quarterly profit on Wednesday as customers spent more on its cards during the U.S. holiday shopping season, boosting fees for the world’s second-largest payment processor.
General Electric Co quarterly profit and cash flow beat analysts’ estimates on Wednesday, boosted by its aviation unit, but the industrial conglomerate set a relatively modest profit target for 2020.
Global markets showed more signs of stabilisation on Wednesday as investors looked past China’s coronavirus outbreak and moved back into shares from safe-haven assets such as the yen and German bonds.
EU countries can either restrict or exclude high-risk 5G vendors from core parts of their telecoms networks, according to new EU guidelines announced on Wednesday, a move targeting China’s Huawei Technologies but falling short of a U.S. call for a complete ban.
Chinese telecoms equipment maker Huawei [HWT.UL] on Wednesday welcomed the European Union’s 5G guidelines that are likely to limit its business in Europe, but which fall short of a U.S. call for a total ban.
Huawei, the leading maker of telecoms network equipment, denied a newspaper report on Wednesday which said the German government was in possession of evidence that it had cooperated with Chinese intelligence.
Victoria’s Secret-owner L Brands Chief Executive Officer Leslie Wexner is in talks to step aside from the role and is exploring strategic alternatives for the lingerie brand, the Wall street Journal reported on Wednesday.
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout, on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand and data showing a decline in U.S. stockpiles.
McDonald’s Corp on Wednesday reported quarterly comparable sales growth above Wall Street expectations, as the world’s largest burger chain benefited from its revamped stores, new delivery partnerships and higher menu prices.
General Electric Co on Wednesday reported a 30% jump in quarterly profit that beat analysts’ estimates, boosted by its aviation business, but forecast 2020 profit below estimates.
Chemicals maker Dow Inc reported better-than-expected quarterly profit and revenue on Wednesday, helped by higher volumes in Asia as well as cost cuts, and pointed to a recovery in demand this year on the back of easing trade tensions.
The German government is in possession of evidence that Huawei, the leading maker of telecoms network equipment, has collaborated with Chinese intelligence, the Handelsblatt daily reported on Wednesday.
Global automotive production may have peaked, auto supplier Robert Bosch said on Wednesday, announcing job cuts and a review of its business to cope with a 44% drop in full-year operating profit and a downturn in demand for cars.
Apple said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Starbucks warned results would be hit after it shut over half its cafes in the country.
Global markets showed further signs of stabilization on Wednesday as investors looked past a rising death toll from China’s coronavirus outbreak to tiptoe back into shares and out of safe-haven assets such as the yen and German bonds.
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