China sees 2019 auto sales down 5% year-on-year: industry association
Auto sales in China are seen falling 5% year-on-year to 26.68 million units in 2019, the country’s top industry association said.
Wall Street dips at open as coporate earnings point to slowing growth
Wall Street opened slightly lower on Thursday after a clutch of earnings reports pointed to a slowing global economy, while the European Central Bank opening the door to future interest rate cuts limited losses.
PG&E expects $4.8 billion of initial contribution to California wildfire fund
Power producer PG&E Corp said on Thursday its initial contribution to California’s wildfire fund would be about $4.8 billion, and annual contribution about $193 million.
Oil rises on Iran tensions, U.S. inventory decline
Oil prices rose about 1% on Thursday amid Middle East tensions and a big decline in U.S. crude stockpiles, but gains were capped due to lingering worries about slowing economic growth that could reduce fuel demand.
Boeing 737 MAX groundings plague U.S. airlines even as bookings grow
American Airlines Group Inc and Southwest Airlines Co warned on Thursday of an increasing financial toll from the prolonged Boeing 737 MAX grounding this year even as strong bookings and higher fares helped drive quarterly revenue growth.
Tesla shares sink as Musk changes tune on profit
Shares of Tesla Inc sank 11 percent on Thursday, on course to knock more than $5 billion off the electric carmaker’s market value, a day after it disappointed Wall Street by softening its language on turning a profit this year.
Dow forecasts third-quarter revenue below estimates, shares dip
Dow Inc forecast current-quarter revenue below analyst expectations on Thursday and said it would cut 2019 spending as chemical companies grappled with the prolonged U.S-China trade dispute and an oversupply of chemicals used to make plastics.
American Airlines sees $400 million pretax hit in 2019 from 737 MAX grounding
American Airlines Group Inc said on Thursday it expected the Boeing 737 MAX grounding to hit its 2019 pretax earnings by about $400 million, sending shares down about 1%, even as a strong passenger demand lifted quarterly revenues.
Four automakers, California strike compromise on vehicle emissions
Ford Motor Co, BMW AG, Volkswagen AG and Honda Motor Co said on Thursday they have reached a voluntary agreement with the state of California to adopt compromise vehicle emissions rules.
Hershey’s tepid annual forecasts overshadow quarterly profit beat
Chocolate maker Hershey Co cut its full-year sales forecast on Thursday, overshadowing a better-than-expected quarterly profit and sending its shares down 3%.
