Michael Kors misses revenue estimates as European sales take hit
Michael Kors missed Wall Street’s quarterly revenue estimates for the first time in almost two years, as the luxury hand-bag maker recorded lower sales at retail outlets in Europe, where it is trying to gain a stronger foothold.
German prosecutors search BlackRock in sham trades inquiry
German state prosecutors confirmed they searched the Munich offices of investor BlackRock as part of a probe into an illicit tax trading scheme but exonerated the company’s local chairman, who is vying to succeed Chancellor Angela Merkel.
Dish revenue falls five percent as satellite subscribers drop
U.S. satellite TV service provider Dish Network Corp reported a 5 percent fall in quarterly revenue on Wednesday as it leaked more subscribers in the face of cheaper options like Netflix and Hulu.
U.S. Democrat election gains fuel stocks surge, hits dollar, Treasury yields
Wall Street looked set for a surge on Wednesday and global stocks rose after sharp U.S. election gains for the opposition Democrats, but the outcome, which casts doubt on further tax cuts, hit the dollar and sent Treasury yields lower.
U.S. companies team up with hospitals to reduce employee maternity costs
General Electric Co and other large companies are trying to chip away at rising childbirth costs for U.S. employees, working directly with hospitals to reduce cesarean sections and related complications.
Cologne prosecutors confirm searched Blackrock offices
German state prosecutors in Cologne executed a search warrant at Blackrock’s offices in Munich on Tuesday, a spokesman said, adding that the company’s country chairman, Friedrich Merz, was not suspected of wrongdoing.
GE and Rolls Royce finalists for Chinese-Russian CR929 jet engine, designer says
General Electric and Rolls Royce are the two finalists to supply engines for a new long-haul jet developed by a Russian-Chinese joint venture that aims eventually to switch to a Sino-Russian engine, a chief designer of the aircraft said.
Adidas slips in Europe as Stan Smiths, Superstars go out of fashion
Adidas cut its 2018 revenue forecast on Wednesday after third quarter sales fell in western Europe, where it was hit by changing fashions and Nike’s gains in soccer.
Boeing issues safety bulletin for pilots after Indonesia crash
Boeing Co said on Wednesday it had issued a safety bulletin reminding pilots how to handle erroneous data from a key sensor in the wake of last week’s crash in Indonesia.
Dollar, U.S. bond yields fall, stocks inch higher on Democrat election gains
Wall Street was set for a modestly firmer open on Wednesday and global stocks rose after significant U.S. election gains for the opposition Democrats, but the outcome may rule out further tax cuts, sending the dollar and Treasury yields sharply lower.
