Broadcom’s $2 billion warning rattles global chip sector
Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company’s sales this year.
Wall Street drops as Broadcom warning hits chip stocks
U.S. stocks dropped on Friday, as shares of chipmakers sank on a warning from sector major Broadcom of a broad weakening in global demand and Chinese data pointed to the worst slowdown in industrial growth in 17 years.
All eyes on Fed as stock market pines for rate cut
The Federal Open Market Committee meeting next week is shaping up as a pivotal one for Wall Street, with stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent we…
Dish execs met with DOJ, FCC on T-Mobile, Sprint merger
Dish Network Corp executives met this week with the U.S. Justice Department’s antitrust chief Makan Delrahim and Federal Communications Commission chairman Ajit Pai on the government’s review of the proposed $26.5 billion tie-up of wireless carriers T-…
VW to float 10% of truck unit, seeks to raise 1.9 billion euros
Volkswagen aims to raise up to 1.9 billion euros ($2.1 billion) by listing truck unit Traton, it said on Friday, scaling back earlier ambitions to list up to a quarter of the unit by opting to float a 10% stake.
GE poised for significant power orders in Iraq after U.S. push -sources
General Electric Co potentially stands to win a large share of multibillion-dollar contracts to rebuild Iraq’s electricity system, reflecting a change in how Iraq intends to award the work after the United States lobbied for GE, according to sources f…
EU’s Malmstrom hopes Trump, Xi can meet and reduce trade tensions
European Union Trade Commissioner Cecilia Malmstrom is hoping U.S. President Donald Trump meets his Chinese counterpart, Xi Jinping, at the G20 summit in Japan later this month to try to reduce trade tensions between the two countries.
Stock edge lower, gold gains on slowdown, geopolitical fears
Equity markets struggled and safe-haven assets like gold were in demand on Friday as weak Chinese data stoked investor anxieties over a global growth slowdown and fears of a U.S.-Iran confrontation added to geopolitical uncertainty.
Solid U.S. retail sales offer economy some respite
U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter.
Carrefour sees more retail sector consolidation, including in France
The boss of Carrefour said on Friday the retail sector was bound to consolidate in the coming years, notably in France, as competition intensifies, and that his mission was to make sure the French retailer came out a winner.
