BP profit outstrips forecasts, lifted by higher oil output
A strong increase in oil and gas production helped BP offset weaker crude prices and refining profit to beat second-quarter profit expectations on Tuesday, lifting its shares.
Huawei’s H1 revenue growth accelerates despite U.S. sanctions
China’s Huawei Technologies said on Tuesday revenue in the first half of the year grew 23.2% – faster than a year ago – despite an intense U.S. campaign against it that ultimately became a trade ban from mid-May.
Huawei outsells smartphone rivals in China, tightens market grip amid U.S. spat
China’s Huawei Technologies cemented its dominance of the domestic smartphone market in the second quarter, with shipments and market share rising, as Chinese customers backed the embattled firm amid its trade fight with the United States.
Oil prices rise as market eyes likely Fed rate cut
Oil prices rose for a fourth day on Tuesday on optimism the U.S. Federal Reserve will this week cut interest rates for the first time in more than 10 years, supporting fuel consumption in the world’s biggest oil user.
Telecoms lobby demands access to high-band spectrum for 5G
The global telecoms industry on Tuesday demanded access to the high-capacity spectrum it says it needs to support data-intensive 5G services, accusing the space lobby of hogging frequencies in a way that could stunt the technology.
Asia stocks advance before Fed, fresh Brexit pain sinks pound
Asian stocks advanced on Tuesday in anticipation of a cut in U.S. interest rates later this week while the pound tumbled to a 28-month low versus the dollar due to heightened concerns over prospects for a no-deal Brexit.
BP second-quarter profit of $2.8 billion above expectations
BP reported $2.8 billion in second-quarter profit on Tuesday, unchanged from a year earlier, held back by lower oil prices.
Sony reports 18% jump in first-quarter profit on strong image sensor business
Japan’s Sony Corp on Tuesday reported an 18.4% increase in first-quarter operating profit, beating market expectations thanks to a strong performance in the image sensor business.
Lufthansa second-quarter earnings fall on rising fuel costs and price wars
German airline Lufthansa on Tuesday posted a decline in second-quarter earnings, hurt by price competition on short-haul routes and rising fuel costs, adding the European market would likely remain challenging until at least the year’s end.
Bayer says 2019 profit goal becoming a stretch
Germany’s Bayer has warned that its 2019 earnings target has become harder to reach, becoming the latest agricultural supplies company to be affected by flooded U.S. farms and trade disputes.
