Business & Finance News
Oil prices on Wednesday fell about 1% to their lowest in over a month, after a U.S. report showed big increases in gasoline and distillates inventories and as crude production rose to a new record.
A software update for the GTF engine on the A220 jet is expected in the spring, pending regulatory approval, Graham Webb, vice president of Pratt & Whitney commercial engine programs said on Wednesday.
Oil prices on Wednesday extended losses, falling to their lowest in over a month, after a U.S. report showed that crude production rose to a new record, overshadowing a bigger-than-expected draw in crude inventories.
The S&P 500 and the Dow Jones indexes set new record highs on Wednesday on a positive tone around trade talks with China from Trump administration officials ahead of the signing of an initial deal later in the day.
General Motors Co. said on Wednesday more than 1,350 hourly employees at its assembly plants in the United States will transition into full-time roles in the first quarter of 2020.
U.S. tariffs will remain on Chinese imports while the Trump administration sees how enforcement plays out under the Phase 1 trade deal with Beijing, White House economic adviser Larry Kudlow said on Wednesday.
U.S. stocks were set to open lower on Wednesday ahead of the release of details of an initial U.S.-China trade deal, with investors also digesting the latest earnings reports from big U.S. banks.
Chinese Vice Premier Liu He said Beijing and Washington will work together following the signing of the Phase 1 trade deal to obtain tangible results, China’s official Xinhua news agency reported on Wednesday.
U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year.
BlackRock Inc , the world’s largest asset manager, beat analysts’ estimates for quarterly profit on Wednesday, helped by strong flows into its exchange-traded fund business that boosted overall assets under management to a record $7.43 trillion.
OPEC expects lower demand for its crude oil in 2020 even as global demand rises, it said on Wednesday, as rival producers grab market share and the United States looks set for another output record.
Bank of America Corp beat analysts’ estimates for quarterly profit on Wednesday, as a boost from bond trading and growth in its loan book helped the second-biggest U.S. lender blunt a hit from lower interest rates.
Oil prices slipped on Wednesday on concerns that the Phase 1 trade deal between the United States and China, the world’s biggest oil users, may not boost demand as the United States intends to keep tariffs on Chinese goods until a second phase.
Goldman Sachs Group Inc on Wednesday reported quarterly profit that missed analysts’ estimates by a wide margin, hurt by weakness in its investment banking business and higher operating costs.
U.S. stock index futures were marginally lower on Wednesday ahead of the release of details of an initial U.S.-China trade deal, with investors also digesting the second round of bank earnings after a strong set of reports on Tuesday.
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