Page 1178 - Business Finance
EBay beats sales estimates for holiday quarter
(Reuters) - Ebay Inc beat Wall Street estimates for quarterly sales on Tuesday, as customers spent more in the holiday shopping season and a multi-year effort to make its platform more user friendly yielded results.
Correction: Wall Street wavers as Apple tees up its quarterly report
(Reuters) - Corrects fifth paragraph and quote in sixth paragraph to say "employment report," not "unemployment report" Wall Street was mixed on Tuesday, with technology shares dipping ahead of Apple's quarterly report while a rebound in 3M and other industrials elevated the Dow Jones Industrial Average.
Apple sees sales largely below Wall Street as iPhone demand weak
(Reuters) - Apple Inc on Tuesday said sales for its fiscal second quarter would most likely be lower than Wall Street expected, a signal that it continues to face weak demand for its iPhone, especially in China, the world's biggest smartphone market.
Odisha Handicrafts Policy 2019 gets state cabinet nod
The Odisha Cabinet has approved the Odisha Handicrafts Policy 2019, aimed to expedite the growth of the handicrafts sector in the state.The framework also aims to empower handicraft artisans and make them lead partners in development, focus on their welfare and maximise their income-generating opportunities, create necessary physical and human capital, enhance Odisha's share in export of handicrafts, focus on revival of languishing crafts, ensure preservation of craft heritage and development of a center of excellence at the State Institute for Development of Arts Crafts (SIDAC)."The Odisha Handicrafts Policy-2019 aspires to focus on handicrafts sector in a state renowned for its craftsmanship and to leverage the unique selling proposition of the skilled workforce of Odisha. It recognizes that without the artisan, there can be no handicrafts. This policy provides the center stage to the artisan and his masterpieces," read an official statement from the state government.The state, ...
Global Markets: Gold hits eight-month high, stocks mixed amid trade caution, results
NEW YORK (Reuters) - Gold hit an eight-month high while world stock markets were mixed ahead of further U.S.-Sino trade talks, a raft of technology company results starting with Apple later on Tuesday and an impending Federal Reserve decision on interest rates.
GE falls after JP Morgan's Tusa brings back focus on free cash flow
(Reuters) - Shares of General Electric Co fell 3 percent on Tuesday after a top-rated JP Morgan analyst raised concerns about the company's divestiture plans and its impact on free cash flow.
LVMH boss says has no hand in activist Elliott targeting Pernod
PARIS (Reuters) - LVMH, owner of Moet & Chandon champagne and Hennessy cognac, does not want to destabilise Pernod Ricard and has nothing to do with activist investor Elliott buying a stake in the French spirits group, its Chairman and CEO said on Tuesday.
Gold hits eight-month peak on U.S.-China trade woes; focus on Fed
(Reuters) - Gold jumped to its highest in more than eight-months on Tuesday, on doubts surrounding U.S.-China trade relations and ahead of a Federal Reserve meeting with increasing expectations for a pause to the central bank's rate hike trajectory.
Oil prices rally as U.S. sanctions on Venezuela ease supply worries
NEW YORK (Reuters) - Oil prices rallied above 2 percent on Tuesday after the United States put sanctions on state-owned Venezuelan oil company PDVSA, a move likely to curtail the OPEC member's crude exports and chip away at global oversupply worries.
Verizon sees no increase in 2019 profit, misses quarter four revenue estimate
(Reuters) - Verizon Communications Inc on Tuesday said it does not expect profit growth in 2019 due to a higher tax rate and interest expense, and missed Wall Street estimates for fourth quarter revenue.
Harley expects 2019 shipments to slump, shares sink; will boost Thai investment
(Reuters) - Harley-Davidson Inc reported worse-than-expected quarterly profit on Tuesday and forecast a slump in global shipments of its motorcycles in 2019, sending shares sinking more than 7 percent in afternoon trading.
Lockheed forecasts 2019 profit below view, but sees higher cash flow
(Reuters) - Lockheed Martin Corp, the Pentagon's top weapons supplier, on Tuesday forecast 2019 profit below estimates and reported that quarterly margins slipped at the unit that makes the radar-evading F-35 fighter jet and C-130 transport plane.
Tech keeps Nasdaq, S&P under pressure; industrials lift Dow
(Reuters) - The S&P 500 and the Nasdaq came under pressure from weakness in technology stocks ahead of Apple's results on Tuesday, while a rebound in industrial stocks lifted the Dow.
LVMH confident on 2019 as Vuitton handbags boost sales
PARIS (Reuters) - LVMH is "cautiously" confident about the year ahead after fourth-quarter sales held up despite fears of a China slowdown, powered by accelerating growth at Louis Vuitton handbags.
Pfizer quarterly profit in line, touts pipeline of future products
(Reuters) - Pfizer Inc on Tuesday reported fourth-quarter profit and sales that edged past Wall Street estimates, helped by higher sales of breast cancer medicine Ibrance and pain drug Lyrica.
Exclusive: Venezuela's PDVSA moves to renegotiate export contracts - sources
(Reuters) - Venezuela's state-run oil company PDVSA is seeking to sidestep Trump administration sanctions restricting payments for its oil by asking major buyers, including U.S. refiners, to renegotiate contracts, four sources involved in the talks said.
Investors say banks have halted PDVSA trading after U.S. sanctions
LONDON (Reuters) - Major banks have stopped trading the bonds of Venezuela's state- owned oil firm PDVSA for clients after the United States imposed sweeping sanctions on the firm, according to fund managers.
Larsen & Toubro Ltd plans offer for sale of up to 30 lakh shares of L&T Technology Services
Larsen and Toubro Ltd plans to sell up to 30 lakh shares of L&T Technology Services, representing 2.89 per cent of its total paid up equity share capital. The floor price of the offer has been fixed at be Rs 1,610 per share, according to a regulatory filing by the company. "...the seller (Larsen & Toubro Ltd) proposes to sell up to 3,000,000 equity shares representing 2.89 per cent of the total paid up equity share capital of the company (L&T Technology Services Ltd) of face value of Rs. 2 each on January 30, 2019 (for non-retail investors only) and on January 31, 2019 (for retail investors and for non-retail investors who choose to carry forward their unallotted bids)," it said. There is also an option to additionally sell 25.9 lakh equity shares (an over subscription option) representing 2.49 per cent of the total paid up equity share capital of the company, it added. The shares of L&T Technology Services closed at Rs 1689.80 per share on BSE on Tuesday, 1.03 per ...
U.S. consumer morale at 1-1/2 year-low; house price gains slow
WASHINGTON (Reuters) - U.S consumer confidence fell to a 1-1/2 year-low in January as a partial shutdown of the government and financial markets turmoil left households a bit nervous about the economy's prospects.
3M warns of slowdown in China, trims sales forecast
(Reuters) - 3M Co became the latest major U.S. manufacturer to warn that a slowdown at its Chinese business was hurting revenue, as it tempered its overall sales projections on Tuesday.