Macy’s shares plunge as weak holiday sales prompt forecast cut
Shares of Macy’s Inc plunged 17 percent in early trading on Thursday, after the department store operator cut same-store sales forecast for the full year due to weak demand during mid-December.
U.S. weekly jobless claims point to strong labor market
The number of Americans filing applications for jobless benefits fell more than expected last week, pointing to sustained labor market strength that could further ease concerns about the economy’s health.
Stocks rally splutters as trade talks, data disappoint
A four-day rally in world stocks ran out of steam on Thursday and the dollar touched a near three-month low as mixed signals from U.S.-China trade talks and caution at the Federal Reserve applied the brakes.
American Airlines cuts fourth-quarter estimate for revenue metric
American Airlines Group Inc on Thursday cut its estimate for a closely watched revenue metric for the fourth quarter, raising concerns that travel demand in the U.S. may be taking a hit from slowing global growth and trade tensions.
Stock futures snap four-day rally as trade talks, retailers disappoint
U.S. stock index futures dipped on Thursday, after a solid four-day rally, as lack of details on U.S.-China trade talks gave investors pause, while retailers came under pressure after a couple of disappointing holiday-season reports.
Target posts strong holiday sales, maintains outlook
Target Corp said on Thursday comparable sales grew 5.7 percent during November and December, helped by higher customer visits and strong online sales during the holiday season.
Nike’s Dutch tax status investigated by EU regulators
The European Commission has opened an investigation into the tax treatment of Nike Inc in the Netherlands, saying this may have given the U.S. sportswear maker an illegal advantage.
Jaguar Land Rover to cut 4,500 jobs, mainly in Britain
Britain’s biggest carmaker Jaguar Land Rover said it will cut around 4,500 jobs, mainly in its home market, as it tries to tackle a slowdown in China and a slump in demand for its diesel-powered vehicles.
Looking past Khashoggi, investors flock to Saudi Arabia bond sale
Foreign investors flocked to buy Saudi Arabia’s first dollar bonds since Jamal Khashoggi’s death, in a clear vote of market confidence after the country’s reputation was damaged over the journalist’s murder.
Dutch government says it will cooperate with EU probe into Nike tax status
The Dutch government said on Thursday it will cooperate with an investigation by the EU Commission into Nike Inc.’s tax arrangements in the Netherlands.
