American Eagle third-quarter profit forecast disappoints, shares fall
Apparel retailer American Eagle Outfitters Inc forecast third-quarter profit below estimates on Wednesday after reporting disappointing quarterly same-store sales due to weak performance in certain seasonal clothing lines.
Oil prices rise over 1 percent, but economic worries loom
Oil prices rose on Wednesday, boosted by a wider market pickup on positive news from China’s services sector, after three days of losses due to fears about a weakening global economy.
WeWork adds woman to its board after backlash ahead of IPO
WeWork owner, The We Company, said on Wednesday it will add a woman, Frances Frei, to its board of directors and unwound a $5.9 million (4.8 million) payment to its chief executive for use of the trademarked word “We” ahead of a planned initial public …
Emirates’ Clark says won’t take new planes unless engines are truly ready
Emirates President Tim Clark said engine makers Rolls-Royce and GE must improve their reliability, saying the airline would not take new Airbus and Boeing planes unless they were truly ready.
Stock futures higher as robust Chinese data eases growth worries
U.S. stock index futures rose on Wednesday after encouraging data from China allayed concerns of slowing global growth in the backdrop of an ongoing trade dispute between the United States and China.
Malaysia defends move to extend license for rare earth firm Lynas
Malaysia’s government said on Wednesday its decision last month to extend a license for Australia’s Lynas Corp for processing rare earth minerals aimed to show investors that the Southeast Asian nation was open for business and preserve 600 jobs.
Cathay Chairman Slosar resigns weeks after CEO left, deepening reshuffle
Hong Kong’s Cathay Pacific Airways shook up its top ranks further as Chairman John Slosar resigned on Wednesday, less than three weeks after mounting Chinese regulatory scrutiny led to the shock departure of its chief executive.
U.S. effort to disqualify Huawei’s lead lawyer goes to court
A former U.S. Justice Department official who now represents Huawei Technologies is expected in Brooklyn federal court on Wednesday to defend his right to represent the Chinese company against U.S. charges of bank fraud and sanctions violations.
Share index relegation a sign of the times for once mighty M&S
Marks & Spencer chairman Archie Norman has said he is unperturbed by the British retailer’s share price slide, with his focus on the long term, but relegation from the prestigious FTSE 100 index is a symbol of its decline.
Cathay Pacific Chairman Slosar resigns just weeks after CEO leaves
Hong Kong’s Cathay Pacific Airways said on Wednesday its Chairman John Slosar has resigned, less than three weeks after mounting Chinese regulatory scrutiny led to the shock departure of its chief executive.
