Markets

by | November 01, 2019 | 12:56

Nintendo's new Switch Lite is selling like hotcakes: The Japanese gaming giant sold almost 2 million units of the smaller, lighter Switch in just 11 days, it revealed as part of its September earnings release. Mario Kart Tour , Nintendo's most anticipated smartphone title, had only a few days to contribute to the earnings in the quarter after its release on Sept 25.

by | November 01, 2019 | 12:28

Alphabet was due to post its latest quarterly figures after the close of trading in NY. Microsoft gained 2.4% and was on track for a new high after the software company won a contract worth up to $10 billion over the next decade from the Pentagon.

by | October 31, 2019 | 22:12

Nevertheless, promotions and patriotic purchases have driven Huawei's smartphone sales in China, helping it more than offset a shipments slump in the global market. "This puts significant pressure on Oppo, Vivo and Xiaomi, which find it very hard to make any breakthrough". Huawei said last week it had sold more than 200 million mobile phones globally in 2019, 64 days earlier than in 2018.

by | October 31, 2019 | 19:27

The management said that the strike would cost it around $3 billion in profits this year. Almost 50,000 hourly GM workers went on strike starting September 16 , two weeks before the end of the quarter. The China Association of Automobile Manufacturers expects a 5% decline for industry sales in 2019, then contracting or growing slowly over the next three years.

by | October 31, 2019 | 12:26

It's unclear how the merger or combined operations would be structured if FCA approves the deal. However, WSJ reported that the new board will include six members from PSA and five from FCA. It's unclear what, if anything, has changed since that deal reportedly fell apart last spring. FCA makes most of its revenue in the USA and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany.

by | October 31, 2019 | 02:12

Overall, the Bank expects inflation to track close to the 2 percent target over the projection horizon. Policy makers aren't guided by a particular exchange rate, but they know that a stronger dollar will crimp exports, which would slow economic growth and put downward pressure on inflation.

by | October 30, 2019 | 22:37

Stocks wavered between small gains and losses before turning slightly higher. The S&P 500 posted 11 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 50 new highs and 64 new lows. In the meantime, Trump, via Twitter , has renewed his attacks on the Fed for not lowering its benchmark rate closer to zero. The Fed's cuts have also calmed markets compared to the beginning of the year when investors grew nervous that monetary policy was too tight.

by | October 30, 2019 | 22:08

While PSA doesn't have a presence in the U.S. now - though that's supposedly going to change if Tavares has his way - the company is enormous, and if it does merge with FCA , the combined Voltron of Franco-Italian-American automobile production could be valued at over $50 billion.

by | October 30, 2019 | 17:25

Trade talks were back in focus as the USA trade representative's office said US and Chinese trade officials are "close to finalizing" some parts of an agreement after high-level telephone discussions on Friday. Of the about 40 percent of the companies in the S&P 500 that have reported so far, 80 percent had results that topped Wall Street's earnings forecasts, while 64 percent beat revenue estimates, FactSet Research Systems Inc data showed.

by | October 30, 2019 | 16:38

The newly installed chief, Bahlil Lahadalia, whose announcement was riddled with nationalistic rhetoric, said the agreement did not involve any written document but was based on "a collective awareness [between stakeholders] as children of the nation" after holding a closed-door meeting with miners.

by | October 30, 2019 | 11:31

The three companies are among automakers that have intervened in a petition filed by the Environmental Defense Fund (EDF) against the National Highway Traffic Safety Administration's (NHTSA) authority to address fuel economy standards . Four other major vehicle manufacturers-Ford, Volkswagen , BMW , and Honda-made a separate agreement with California's air pollution regulation authority, the Air Resources Board, in July on tougher emission and fuel economy standards.

by | October 30, 2019 | 11:29

Two sources familiar with the matter told the FT that ByteDance is planning to go public as soon as the first quarter of next year, and has chosen the Hong Kong stock exchange over NY. ByteDance is the Chinese company behind the hot short-form video app, which is famous for its popularity with younger demographics. Senior senators Chuck Schumer and Tom Cotton had written to United States intelligence officials asking to investigate TikTok for possible national security threats.

by | October 30, 2019 | 10:32

The United Auto Workers (UAW) union and Ford , the second-largest USA automaker, will begin talks on Monday. UAW Vice President Terry Dittes said the union is proud of the workers. At other plants, the margin in favor was absurdly wide, such as at Arlington Assembly where the contract allegedly passed by 76 percent. Not a button was distributed in the plants.

by | October 30, 2019 | 10:25

It aims to reach 80 million subscribers by 2025, according to the report, with 50 million of those in the US. This, in turn will allow AT&T to charge higher rates to their advertisers. A WarnerMedia rep declined to provide additional details on the HBO Max promotional offers. With AT&T looking to hit the ground running and boost its subscriber numbers as quickly as possible, AT&T COO John Stankey recently said that the company has a few ideas created to result in rapid subscriber growth.

by | October 30, 2019 | 09:51

Both services will run on a thrice-weekly basis, however Dallas-Auckland will be operated daily from December 1. American Airlines will rachet up competition in New Zealand in 2020 by launching the only nonstop service between the United States and the South Island and adding a direct service from Dallas-Fort Worth.

by | October 30, 2019 | 09:22

There was no indication from Amazon when the service will roll out to all Prime members . Amazon maintains several grocery shopping options, including Prime Now delivery, Whole Foods, and 20 Amazon Go stores . Kroger charges a $5.95 delivery fee and a $6.00 service fee to drop groceries at shopper doorsteps. From start to cart, Alexa makes grocery shopping a time-saver for the whole family.

by | October 30, 2019 | 09:12

While things are still in the talking phase, both companies are remaining tight-lipped, and neither FCA nor the PSA Group immediately responded to Roadshow's request for comment. The company disclosed earlier this month that it faces a $79 million fine for falling short of USA fuel efficiency standards. If the talks are confirmed, it will be Fiat Chrysler's second attempt at a merger this year after it pulled out of an agreement with Renault in June.

by | October 29, 2019 | 17:50

The Asia-focused behemoth has been trying to lower costs as it faces the double uncertainties caused by the grinding US-China trade war and Britain's impending departure from the European Union. Pre-tax profit at Europe's biggest bank by assets was $4.8 billion for the quarter ended September 30, down from $5.9 billion a year earlier, HSBC said in a statement to the Hong Kong stock exchange on Monday.

by | October 29, 2019 | 16:50

Beijing has passed a new cryptography law, state news agency Xinhua reported Saturday, ahead of the proposed launch of what could become one of the world's first government-backed nationwide digital currencies. For example, those who discover vulnerabilities in core and common cryptography but fail to respond or report it to authorities in a timely manner will face legal consequences.

by | October 29, 2019 | 16:41

No matter the potential problems, the contract remains a major win for one of the world's most valuable companies - showing investors and potential customers that it is a strong alternative to Amazon Web Services, which has been for years considered the default choice.