Lowe’s beats profit forecasts but warns of weak Canadian market
U.S. home improvement chain Lowe’s beat Wall Street earnings forecasts on Wednesday, but reported disappointing sales growth as it predicted more weakness in Canada following the closure of dozens of unprofitable stores.
Oil gains as OPEC defies Trump and sticks to supply cuts
Oil rallied for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises.
Germany’s Merck makes $5.9 billion cash counterbid for Versum
Drugs and lab supplies maker Merck KGaA is offering to buy Versum Materials in a cash deal valuing it at $5.9 billion including debt, pitting the German group against Entegris which last month also bid for the electronic materials maker.
Campbell Soup beats earnings estimates, shares rise
Campbell Soup Co on Wednesday reported better-than-expected adjusted earnings, helped by its acquisitions of Snyder’s-Lance and Pacific Foods.
Stock futures dip as Trump-Kim summit starts, India-Pakistan tensions flare
U.S. stock index futures edged lower on Wednesday, mirroring global markets, as the second U.S.-North Korean nuclear summit kicked off and fresh hostilities erupted between nuclear-armed neighbors India and Pakistan.
Impact of India-Pakistan tensions spreads from Asia to Europe
Global stocks traded lower on Wednesday after fresh hostilities between India and Pakistan led Asian assets to slip and investors sought “safe havens” such as the yen and Swiss franc.
StanChart hiring Chinese-speaking bankers to connect its network
Standard Chartered is targeting more trade-focused business from Chinese companies by hiring around 15 bankers worldwide, a source familiar with the plans told Reuters.
FedEx partners with Walmart, Pizza Hut to test last-mile delivery robot
FedEx Corp this summer plans to begin testing a robot to handle home deliveries for partners ranging from Walmart Inc to Pizza Hut.
Best Buy holiday-quarter sales beat estimates; shares surge
Best Buy Co Inc reported better-than-expected holiday quarter profit and sales on Wednesday, driven by strong demand for wearable devices, gaming consoles and appliances.
Volvo’s Polestar joins electric car race with rival to Tesla 3
Volvo Cars’ luxury performance brand Polestar unveiled its first fully electric sedan on Wednesday, opening up online pre-orders for the five-seater fastback at a price and with a driving range to rival Tesla’s mass market Model 3.
