Japan’s Kobe Steel says violated statutory standards, losing customers
TOKYO (Reuters) – Kobe Steel Ltd sank deeper into crisis on Friday as the embattled company said it had lost some customers to competitors because of widespread data falsification that had extended to its mainstream steel sheet business.
P&G’s profit beats Wall Street on higher sales of beauty, home care
(Reuters) – Consumer goods giant Procter & Gamble Co , which recently declared victory in an historic proxy fight with activist investor Nelson Peltz, reported a better-than-expected quarterly profit on Friday but sales slightly missed Wall Street estimates.
GE stock drops as profit misses, CEO cuts forecast
NEW YORK (Reuters) – General Electric Co’s third-quarter profit missed Wall Street estimates by a wide margin on Friday and the industrial conglomerate slashed its earnings forecast, sending the year’s worst-performing Dow stock down another 6 percent…
Futures up after Senate clears a hurdle to tax cuts
(Reuters) – U.S. stock index futures edged higher on Friday after the Senate cleared a budget blueprint, taking the Trump administration a step closer to fulfilling its promise of lowering taxes to stimulate growth.
Schlumberger warns of moderating North American activity
(Reuters) – Schlumberger Ltd posted a bigger quarterly profit on Friday as its North American business continues to be helped by strong shale drilling, but the oilfield services giant said that investments in the region was moderating.
GE’s quarterly revenue rises 14.4 percent
(Reuters) – General Electric Co on Friday reported a 14.4 percent rise in revenue, aided by the acquisition of oilfield services provider Baker Hughes , but profit fell in the quarter.
Low pay, no bonus: U.S. retailers struggle with hiring
(Reuters) – U.S. retailers are finding it increasingly difficult to hire employees for stores and for middle and higher management as low pay and a feeling of uncertainty clouds the industry following a spate of bankruptcies and store closures.
Former Rio Tinto CFO Elliott resigns from Britain’s Takeover Panel
LONDON (Reuters) – Former Rio Tinto chief financial officer Guy Elliott has stepped down from Britain’s Takeover Panel following fraud charges brought by the U.S. Securities and Exchange Commission (SEC) related to his time at the miner.
U.S. tax reform move boosts dollar, stocks, bond yields
LONDON (Reuters) – European stocks, the dollar and bond yields climbed on Friday as investors speculated on the return of the “Trumpflation trade”, after the U.S. Senate approved a budget blueprint that paves the way for tax cuts.
UK business minister travels to Canada for talks on Bombardier deal
LONDON (Reuters) – British Business Secretary Greg Clark will hold talks in Canada on Friday to discuss Airbus SE’s plans to buy a majority stake in Bombardier’s C-Series jetliner program aimed at helping it avoid high U.S. import tariffs.
