Saturday, 8 Aug 2020

Business

Big Tech results move center stage after Congressional bruising

(Reuters) – Four of the United States’ big tech firms, accounting for nearly a fifth of the S&P 500’s total value, report results on Thursday on the heels of a bruising Congressional hearing to look into alleged abuse of their global dominance. It will be the first time Apple Inc (AAPL.O), Amazon.com Inc (AMZN.O), Alphabet […]

Airbus trims A350 output, quarterly loss worse than expected

PARIS (Reuters) – Europe’s Airbus (AIR.PA) announced a new cut in production of its marquee A350 jet on Thursday as it swung to a larger-than-expected second-quarter loss in the face of the global pandemic. But boosting its shares, the planemaker also said it hoped to avoid consuming cash in the second half of the year […]

Exclusive: As Japan weighs missile-defence options, Raytheon lobbies for Lockheed’s $300 million radar deal

TOKYO (Reuters) – U.S. defence company Raytheon (RTN.N) is lobbying Japanese lawmakers to replace Lockheed Martin Corp (LMT.N) as the supplier of powerful radars as Tokyo reconsiders plans for two Aegis Ashore missile defence sites, three sources said. “It’s game on,” said one of the sources, who has direct knowledge of Raytheon’s lobbying campaign. Raytheon’s […]

Fed repeats pledge to keep U.S. interest rates low

(Reuters) – The Federal Reserve on Wednesday repeated a pledge to use its “full range of tools” to support the U.S. economy and keep interest rates near zero for as long as it takes to recover from the fallout from the coronavirus outbreak, saying the economic path will depend significantly on the course of the […]

Wall St. adds to gains after Fed vows more support to U.S. economy

New York (Reuters) – U.S. stocks added to gains on Wednesday after the U.S. Federal Reserve repeated a pledge to use its “full range of tools” to support the economy for as long as it takes to recover from fallout of the pandemic. At the end of its two-day policy meeting the Fed said it […]

Upbeat earnings lift Wall Street as focus shifts to Fed

(Reuters) – U.S. stocks rose on Wednesday as a slew of positive earnings updates and hopes for assurances of continued support from the Federal Reserve overshadowed concerns about next steps for the government’s coronavirus relief plan. Advanced Micro Devices Inc (AMD.O) jumped 12.4% after the chipmaker raised its full-year revenue forecast. Its shares were among […]

AerCap cancels 15 MAX jets, urges Airbus and Boeing output cuts

DUBLIN/PARIS (Reuters) – Leasing giant AerCap (AER.N) said on Wednesday it had cancelled 15 orders for the grounded Boeing (BA.N) 737 MAX aircraft as it slows the pace of new plane deliveries to weather the coronavirus crisis. Announcing the cancellations – which leave 80 of the MAX jets still on its order books – the […]

GM says it can pay off $16 billion loan if U.S. recovery continues

(Reuters) – General Motors Co (GM.N) on Wednesday said if the U.S. economy continues to recover from the coronavirus pandemic and the auto industry does not experience any further production shutdowns, the No. 1 U.S. automaker should be able to generate enough cash to pay off a $16 billion loan by the end of the […]

Global equities edge higher, safe havens flat ahead of Fed meeting

NEW YORK (Reuters) – Stock markets edged higher and perceived safe-haven assets were steady on Wednesday as investors awaited news from the U.S. Federal Reserve’s latest policy meeting. The Fed is expected to sound reassuringly accommodative at its policy review later in the day and perhaps open the door to a higher tolerance for inflation […]