Business & Finance News
Target Corp said on Wednesday it missed its own expectations for holiday season sales, citing weak demand for toys and electronics for growth of just 1.4% and dragging shares across the retail sector lower.
Goldman Sachs Group Inc reported a 26% drop in quarterly profit on Wednesday, hurt by weakness in its investment banking business and higher operating costs.
Bank of America Corp beat analysts’ estimates for quarterly profit on Wednesday, as the second-biggest U.S. lender’s bond trading division posted a strong showing, eclipsing declines at its three other major businesses.
PNC Financial Services Group Inc on Wednesday posted a better-than-expected fourth-quarter profit, driven by growth in its loan book.
Bank of America Corp posted a 4.1% fall in quarterly profit on Wednesday, as lower interest rates crimped the second-biggest U.S. lender’s ability to earn more from loans.
Target Corp on Wednesday reported comparable sales growth of just 1.4% for the 2019 holiday season on the back of weak demand for electronics, toys and home products, sending shares in the retailer 8% lower.
BlackRock Inc , the world’s largest asset manager, reported a 40.3% rise in fourth-quarter profit on Wednesday, as more money rolled into its low-risk exchange-traded funds and cash management business amid concerns of slowing global growth.
World stocks eased off record highs on Wednesday and U.S. and German bond yields slipped, as euphoria over a U.S.-China trade deal was tempered by U.S. Treasury Secretary Steven Mnuchin saying tariffs on Chinese goods would remain in place for now.
U.S. wireless carriers T-Mobile US Inc and Sprint Corp are expected to urge a federal judge on Wednesday to let them proceed with their $26.5 billion merger, as a group of states argues the deal violates federal antitrust laws.
BofA Global Research started its coverage of Saudi Arabia’s state oil giant Saudi Aramco with a ‘neutral’ rating on Wednesday, setting a price target of 36 riyals ($9.60) per share and saying its fundamentals were now “fully priced”.
UnitedHealth Group Inc reported a better-than-expected quarterly profit on Wednesday, as the largest U.S. health insurer benefited from higher revenue from its Optum unit, which includes its pharmacy benefits management business.
Amazon.com has ordered 40 electric vans from Deutsche Post’s StreetScooter unit for deliveries in the German city of Munich as part of the plan to be carbon neutral by 2040, the online retailer said on Wednesday.
The talk’s all been about Saudi Aramco, and the suspense of its historic drive to whip up international cash. But, more quietly, its Gulf oil peer ADNOC has also been courting foreign funds – and its efforts compare favorably.
Over the past three years, Abu Dhabi National Oil Company (ADNOC) has expanded its oil and gas business and quietly raised more than $19 billion in a variety of ways. See main story:
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.
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