Category: Business
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Apple’s holiday-quarter forecast faces threat from Huawei, weak China market
By Yuvraj Malik (Reuters) – Apple investors will have one big question when the world’s most valuable company reports earnings on Thursday – will Huawei’s resurgence in China dampen its holiday-quarter expectations? The company, which will post results for the July-September period, is grappling with an uneven recovery in the world’s second-largest economy and tougher…
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Take Five: Volatile start to busy week
(Reuters) -Financial markets have got off to a volatile start to the week, after Hamas militants launched an assault on Israel at the weekend, triggering violent conflict that left hundreds dead. A bond market rout last week and currency gyrations already had financial markets on edge ahead of U.S. inflation numbers and the start of…
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New York Times tech workers to strike over return-to-office rules
(Reuters) -Tech workers at the New York Times plan to strike for half a day on Monday, accusing the publisher of attempting to unilaterally force them back to the office. The stoppage of work will start at 1 p.m. ET and the nearly 700 workers will hold demonstrations on Zoom and outside the company’s headquarters…
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Exxon names new shale oil chief to replace executive facing assault charge
By Sabrina Valle HOUSTON (Reuters) -The former head of Exxon Mobil’s shale oil and gas business will return as senior vice president over the company’s most important U.S. oil operation following his successor’s arrest earlier this month. Bart Cahir, who was promoted a year ago to run an internal services unit called Global Business Solutions,…
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From Amazon to McDonald’s, strong earnings show U.S. consumer resilience
By Ananya Mariam Rajesh and Aishwarya Venugopal (Reuters) – In a strong quarter for earnings, the big consumer stocks have shone even brighter, thanks to results from McDonald’s, Chipotle Mexican Grill and others that rank among the biggest surprises of the reporting cycle so far. Roughly half of the S&P 500 companies have reported results…
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Tesla falls as production cut by battery supplier Panasonic fans EV demand fears
(Reuters) – Shares of Tesla fell about 5% on Monday after key supplier Panasonic Holdings said it cut automotive battery production in the September quarter, cementing concerns of a global slowdown in electric-vehicle (EV) sales. Panasonic said its production suffered from slowing uptake for high-end EVs in North America, echoing Tesla CEO Elon Musk’s comments…
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Lower prices, oversupply to weigh on lithium miners
By Arunima Kumar (Reuters) – Albemarle Corp, the world’s largest producer of lithium, is expected to report lower quarterly profit as prices of the silvery-white metal came under pressure due to concerns of falling near-term demand and oversupply. Lithium miners have had a tough year as weak electric vehicle (EV) sales growth led to high…
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Stocks drag despite tech lift as inflation lingers
By Lawrence Delevingne (Reuters) -Global shares struggled on Friday despite a lift from technology giants, while benchmark Treasury yields and the dollar saw little change as data confirmed U.S. inflation remained high, but in line with forecasts. Underlying inflation picked up last month, largely driven by housing costs, a U.S. Commerce Department report showed. But…
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Wall Street ends mixed at close of earnings-packed week
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed mostly lower on Friday, losing momentum as investors digested a hectic week of mixed earnings, and economic data that seemed to support the “higher for longer” interest rate scenario. The Nasdaq advanced, with tech and tech-adjacent momentum stocks led by Amazon.com, Apple and Meta Platforms…
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Chevron’s third-quarter profit slumps, shares fall
By Sabrina Valle and Mrinalika Roy HOUSTON (Reuters) -Chevron on Friday posted a third-quarter profit that missed Wall Street estimates by a wide margin, and its shares fell more than 5%. Oil company earnings have slumped from record year-ago levels as crude prices eased and higher costs crimped refining and chemical profits. Shares were down…