Kohl’s, Home Depot forecasts quell pre-holiday cheer
Retail heavyweights Kohl’s Corp and Home Depot Inc sent a shiver through Wall Street on Tuesday, lodging weak results and annual forecasts that cast more doubt on the health of the U.S. consumer ahead of the crucial holiday shopping season.
Fed’s Williams: Risks to U.S. economy still to the downside
The U.S. Federal Reserve has interest rates at the appropriate level for the U.S. economy but risks to the economic outlook are still tilted downwards, New York Federal Reserve President John Williams said on Tuesday.
NY Fed’s Williams: Financial regulations may have created inefficiencies
Financial regulations put in place following the 2008 financial crisis may have contributed to recent ructions in short-term lending markets, New York Federal Reserve President John Williams said on Tuesday.
S&P 500, Dow retreat from record levels as Home Depot, Kohl’s weigh
The S&P 500 and the Dow Jones Industrial Average retreated after touching record highs on Tuesday, hit by dour forecasts from retailers Home Depot and Kohl’s.
ConocoPhillips targets $50 billion free cash flow over next decade
ConocoPhillips unveiled a long-term plan on Tuesday to boost oil and gas production by about 3% per year, restrain annual spending to about $7 billion and return $50 billion to shareholders over the next decade.
Strike-hit South African Airways says state will not come to the rescue
South African Airways (SAA) resumed some regional flights on Tuesday but warned that only a deal with striking unions can resolve its current crisis, with no prospect of more money from the government.
AFL-CIO’s Trumka not ready to back U.S.-Mexico-Canada trade deal
A major U.S. labor leader on Monday said there was more work to do on a new U.S.-Mexico-Canada trade agreement, pushing back against comments from House Speaker Nancy Pelosi that a breakthrough was imminent.
Emirates wants new Boeing jet put through ‘hell on Earth’ in testing
Emirates, the largest customer of Boeing’s upcoming 777x aircraft, wants the plane to be put through “hell on Earth” in testing to ensure it is safe to fly and meets performance expectations, the president of the Gulf airline said on Tuesday.
Oil slips below $62 as trade talks drag on
Oil fell for a second day on Tuesday, dropping below $62 a barrel on limited progress toward resolving the U.S.-China trade dispute, higher than expected Norwegian oil output and forecasts of rising U.S. crude inventories.
China’s Megvii seeks approval for Hong Kong IPO despite U.S. blacklist: sources
Chinese artificial intelligence firm Megvii Technology Ltd plans to seek listing approval on Thursday for a Hong Kong IPO of at least $500 million, people with knowledge of the matter said, despite being blacklisted by the U.S. government.
