Business & Finance News
Macy’s Inc cut its annual profit forecast for the second time this year on Thursday after a bigger-than-expected drop in third-quarter comparable store sales due to weak international tourism and sluggish mall traffic.
Tesla Inc Chief Executive Elon Musk has talked for years about building an electric pickup truck that would threaten the heart of the Detroit automakers’ profits, and on Thursday he will finally take the wraps off the so-called cyberpunk truck.
The Trump administration will miss its target of holding the first-ever oil drilling lease sale in Alaska’s Arctic National Wildlife Refuge this year due to delays in the environmental review process, Interior Secretary David Bernhardt told Reuters.
Stocks slid further on Thursday as the standoff between the world’s two largest economies expanded beyond trade, reducing the odds of a “phase-one” deal this year and forcing investors to shed risky assets.
Sanofi is considering a joint venture or outright sale among options for its consumer healthcare unit, sources told Reuters, as the French drugmaker prepares to present a new strategic plan next month.
Charles Schwab Corp , the largest U.S. discount brokerage, is in talks to buy smaller rival TD Ameritrade and a deal could be announced as early as Thursday, CNBC reported, citing a source familiar with the matter.
OPEC and its allies are likely to extend existing oil output cuts when they meet next month until mid-2020, with non-OPEC oil producer Russia supporting Saudi Arabia’s push for stable oil prices amid the listing of state oil giant Saudi Aramco.
Volkswagen AG , the top foreign automaker in China, said on Thursday it expects the world’s biggest passenger car market to stabilize next year with low growth levels likely for three to four years.
Germany’s cartel authority said on Thursday it was fining the country’s three major carmakers – BMW , Volkswagen and Daimler – a total of 100 million euros ($110.84 million) for unlawful actions in relation to steel purchases.
China has invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing amid continued efforts to strike at least a limited deal, the Wall Street Journal reported on Thursday citing unnamed sources.
Strong German exports to the United States helped Europe’s largest economy to avoid a recession in the third quarter, data showed on Thursday, as companies benefited from a weaker euro and trade diversion linked to the U.S.-China tariff dispute.
The global economy is growing at the slowest pace since the financial crisis as governments leave it to central banks to revive investment, the OECD said on Thursday in an update of its forecasts.
Fiat Chrysler Automobiles NV said on Thursday it will recall nearly 700,000 sport utility vehicles worldwide because a faulty electrical connection could prevent engine starts or contribute to a stall.
Luxury automaker Jaguar Land Rover’s chief executive told Reuters he is open to more alliances to lower the costs of developing technology, but is not looking for a full-blown corporate merger.
Fiat Chrysler’s (FCA) planned $50 billion merger with Peugeot owner PSA Group will not be blown off course by a shock lawsuit against FCA from General Motors, a source close to FCA said on Thursday.
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