Financial vulnerabilities could undermine effect of rate cuts: Bank of Canada
Financial vulnerabilities like high household debt could undermine central bank efforts to keep inflation in check, since they potentially limit the effectiveness of rate cuts, a top Bank of Canada official said on Thursday.
EA forecasts fourth-quarter revenue below estimates, shares slip
Electronic Arts Inc forecast fourth-quarter revenue below analysts’ estimates, weighed down by the delayed launch of its basketball title “NBA Live”, while its “Apex Legends” battles “Fornite” and “PUBG” to attract young gamers.
Wall Street reverses course to end higher after WHO comments
U.S. stocks rebounded late to close higher on Thursday after the World Health Organization (WHO) declared the China coronavirus a global emergency, while earnings painted a mixed picture.
IBM long-time CEO Ginni Rometty to step down; Arvind Krishna to succeed
International Business Machines Corp said on Thursday its long-time chief executive officer Ginni Rometty was stepping down from the role and will be succeeded by the head of its cloud business Arvind Krishna, effective April.
Visa quarterly revenue misses, expenses rise
Visa Inc missed analysts’ estimates for revenue and posted a 14% rise in operating expenses for the first quarter on Thursday, sending its shares down nearly 2%.
Skywest orders 20 old-generation Embraer jets as order for newer jets remains paused
Brazilian planemaker Embraer SA said on Thursday that U.S. regional carrier SkyBest Inc had signed a firm order for 20 E175 planes from the E1 generation, worth close to $1 billion, as an order for a newer, more efficient plane remains in limbo.
Amazon holiday sales jump as one-day shipping quadruples, stock up 13%
Amazon.com Inc on Thursday said its sales jumped during the holiday season and profit far exceeded expectations, as the world’s biggest online retailer shortened delivery times and drew more shoppers to its loyalty club Prime.
Levi’s shuts half its China stores on coronavirus outbreak, expects financial hit
Levi Strauss & Co has shut about half of its stores in China due to the outbreak of a new coronavirus and will take a near-term financial hit as a result of the epidemic, Chief Financial Officer Harmit Singh said on Thursday.
U.S. farm bankruptcies hit an eight-year high: court data
U.S. farm bankruptcy rates jumped 20% in 2019 – to an eight-year high – as financial woes in the U.S. agricultural economy continued in spite of massive federal bail-out funding, according to federal court data.
December bump in oil prices not enough to salvage energy earnings
Investors hoping a late-2019 rise in oil prices will buoy energy stocks are likely to be disappointed when a raft of companies report results in coming weeks.
