ASOS warns on profit again, blames overseas warehouse problems
British online fashion retailer ASOS dented profit expectations for the third time in eight months on Thursday, saying problems in ramping up warehouses in the United States and Germany had hit sales and increased costs.
Anglo American’s second-quarter output rises 2%, on track to hit 2019 targets
Anglo American on Thursday posted a 2% rise in second quarter output and reaffirmed full-year production targets, boosted by a restart of operations at its Brazilian iron ore mine and higher volumes of coking coal.
Truckmaker Volvo lifts market view, picks Samsung for batteries
Sweden’s AB Volvo raised its market forecasts for North America and Europe on Thursday, as higher trucks and construction equipment deliveries helped it to top profit estimates.
Britain’s easyJet reassures on outlook, hires Ryanair operations chief
Britain’s easyJet on Thursday reported third quarter trading in line with expectations, boosted by more customers taking optional extra services and enabling it to reiterate its full-year profit forecasts.
Exclusive: Ping An-backed Lufax to ditch P2P lending amid regulatory woes – sources
Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance , plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters.
Volvo Cars to cut costs as trade war dents profits
Volvo plans to cut fixed costs by 2 billion Swedish crowns ($214 million), it said on Thursday, becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability.
Britain’s ASOS blames overseas warehouse issues for latest profit alert
British online fashion retailer ASOS warned on profit for the third time in eight months on Thursday, saying it had struggled to overhaul warehouses in the United States and Europe to meet demand.
Crude futures mixed; WTI extends losses after U.S. oil products stocks gain
Oil prices were mixed on Thursday with U.S. crude extending losses after falling in the previous session after data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.
Stocks wobble on trade, earnings anxiety; U.S. Treasury yields fall
Asian share markets faltered on Thursday as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, which helped underpin solid demand for safe-haven U.S. Treasuries.
Anglo American’s second-quarter output rises 2%, Minas Rio ramps up
Anglo American on Thursday said the ramp-up of iron ore at Minas Rio in Brazil and higher volumes of coking coal had offset reduced diamond production, raising second-quarter output by 2% and keeping the company on track to meet its 2019 targets.
