Atlanta Fed model raises U.S. third-quarter GDP view to 2.2%
The U.S. economy grew at a 2.2% annualized rate in the third quarter based on the latest data on national manufacturing activity and construction spending, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.
Higher medical costs take shine off Cigna second-quarter profit beat
Health insurer Cigna Corp raised its 2019 profit forecast on Thursday, helped by last year’s acquisition of pharmacy benefit manager Express Scripts, but medical costs in the second quarter were higher than expected and its shares fell slightly.
U.S. confirms small soybean sale to private Chinese buyer
The U.S. Department of Agriculture on Thursday confirmed a private Chinese company bought 68,000 tonnes of soybeans in the week ended July 25, the first soybean purchase since Beijing offered to exempt five crushers from import tariffs imposed more tha…
LSE’s $27 billion deal rehabilitates Refinitiv debt
Financial data firm Refinitiv’s $13.5 billion debt, once described as having some of the weakest-ever investor protections typical of the frothy peak of the credit cycle, is being rehabilitated by its $27 billion merger with the London Stock Exchange.
King dollar rattles currencies, commodities; stocks rise
The dollar charged to its highest in more than two years on Thursday, trampling almost every market in its way, after the Federal Reserve dampened hopes for a lengthy run of U.S. interest rate cuts.
Wall St. bounces back on tech strength, focus shifts to earnings
U.S. stocks bounced back on Thursday from a steep selloff in the prior session, boosted by technology shares as investors shrugged off a cautious outlook from the Federal Reserve on interest rate cuts and focused on corporate earnings.
Oil drops 2% on Fed outlook, ample supply
Oil dropped more than 2% on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes that a string of interest rate cuts would be in the offing and as record U.S. output helped keep the market well supplied.
Yum Brands posts earnings beat on KFC boost, Pizza Hut rebound
Yum Brands Inc beat expectations for quarterly profit on Thursday, as menu refreshes and a delivery push drove better-than-expected growth at all of the restaurant operator’s chains, including Pizza Hut, sending its shares to a record high.
GM open to working with other automakers on development of EVs: CEO
General Motors Co is open to working with other automakers on the development of electric vehicles, Chief Executive Mary Barra said on Thursday.
Amazon chief Bezos cashes in $1.8 billion of share pile
Amazon.com Inc founder Jeff Bezos sold shares worth $1.8 billion in the last three days of July, reducing the value of his stake in the world’s third most valuable company to about $110 billion.
