S&P 500 flat as losses in industrials offset gains in Facebook, Microsoft
The S&P 500 was flat on Thursday as gains in Facebook and Microsoft were overshadowed by 3M’s bleak quarterly report, which sparked concerns about slowing global growth.
U.S. adds another Chinese e-commerce site to ‘notorious’ IP blacklist
The United States on Thursday added China’s third-largest e-commerce platform to its list of “notorious markets” for violations of intellectual property rights and kept China on its priority watch list for piracy and counterfeiting concerns.
Brent rises to $75 per barrel after Europe suspends Russian crude exports
Brent crude touched $75 per barrel on Thursday for the first time in nearly six months as quality concerns halted some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran.
Corporate profits and U.S. economy chug along, defying recession fears
After months of handwringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 U.S. homebuilder PulteGroup Inc this week were ready for the worst.
Swedbank admits money laundering flaws, faces multiple U.S. probes
Swedbank admitted to failings in combating money laundering on Thursday and said it was under investigation by multiple U.S. authorities, piling more pressure on the bank as it tries to rebuild its reputation.
Homebuilder Horton avoids 2019 margin forecast, raises cost worries
D.R. Horton Inc forecast 2019 revenue below Wall Street estimates and did not provide an outlook on gross margin for the year, spooking investors who have been worried about the impact of rising costs on future profits.
3M cuts 2019 profit outlook on weak China, shares fall 11 percent
Shares of 3M Co fell 11 percent on Thursday after the U.S. manufacturing conglomerate cut its 2019 earnings forecast and said it would lay off 2,000 workers, citing worsening performance in high-growth markets such as China.
Latest subpoena sours Chipotle’s quarterly beat
Chipotle Mexican Grill Inc said on Thursday it received another subpoena from U.S. federal prosecutors, seeking information related to an outbreak that left hundreds of people sick last year in one of its Ohio restaurant.
Deutsche Bank CEO says to be active player in Europe bank consolidation: Bild
Deutsche Bank’s chief executive Christian Sewing wants to be an active player in European banking consolidation, a German newspaper reported on Thursday.
Floods stall fertilizer shipments in latest blow to U.S. farmers
Farm supplier CHS Inc has dozens of loaded barges trapped on the flood-swollen Mississippi River near St. Louis – about 500 miles from the company’s two Minnesota distribution hubs.
