Wall Street shrugs off weak start to hold at one-month high
Wall Street’s main indexes fought back from a weak start to hover near one-month highs on Thursday, as gains in healthcare and consumer discretionary stocks offset losses in the energy and financial sectors.
Audemars Piguet and Swiss watch rivals hasten shift to in-house sales
Swiss watchmakers Audemars Piguet and Richard Mille are snapping up stakes in their franchised shops, seeking to tighten their grip on the sales network as a growing number of top brands ditch wholesalers.
Hitachi halts UK nuclear project as energy supply crunch looms
Japan’s Hitachi Ltd put a $28 billion nuclear power project in Britain on hold on Thursday, dealing a blow to the country’s plans for the replacement of aging plants.
Banks turn stocks red, pound finds some peace
Concern over China’s economic outlook and possible U.S. tariffs on European cars dragged stocks lower on Thursday, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace.
Wall Street slips at open after Morgan Stanley results
U.S. stocks dipped at open on Thursday, retreating from one-month highs, hit by losses in financial stocks after Morgan Stanley’s weak results and energy shares hurt by a drop in oil prices.
Germany considers barring Huawei from 5G networks
The German government is debating whether to follow the United States and allies like Australia in restricting China’s Huawei Technologies from accessing its next-generation mobile networks on national-security grounds.
U.S. weekly jobless claims fall; mid-Atlantic factory activity rebounds
The number of Americans filing applications for jobless benefits unexpectedly fell last week, pointing to sustained labor market strength that should continue to underpin the economy.
Citigroup names David Livingstone EMEA head
Citigroup Inc on Thursday named David Livingstone as head of its operations in Europe, the Middle East and Africa region, in place of Jim Cowles, according to a memo seen by Reuters.
Morgan Stanley profit misses as bond traders stumble in volatile markets
Morgan Stanley missed analysts’ estimates for quarterly profit on Thursday after spikes in volatility in the end of the fourth quarter hurt trading, sending its shares down 5 percent.
Futures down after Morgan Stanley results, trade worries
Wall Street’s main indexes were set to retreat from one-month highs on Thursday after Morgan Stanley’s weak results and renewed concerns over the progress of Sino-U.S. trade talks.
