Business News
Apple, luxury brands drop prices in China on VAT cut
Apple and luxury labels such as Gucci have lowered their prices in China after a cut in its value-added tax (VAT) rate came into effect from April 1.
Month: April 2019
Business News
Lyft falls further from IPO after receiving first ‘sell’ rating
Lyft Inc’s stock sank further below its IPO price on Tuesday after receiving its first negative review from an analyst who is skeptical that consumers will give up car ownership in favor of relying on ride-hailing services.
Business News
BlackRock’s Larry Fink overhauls leadership ranks in key business units
BlackRock Inc, the world’s largest asset manager, has made changes to its senior leadership ranks aimed at winning more business from top institutional clients and boosting growth of its alternative investing business, according to a memo seen by Reuters on Tuesday.
Business News
Superdry founder named interim CEO as majority of board steps down
Superdry named its co-founder and former boss Julian Dunkerton as interim chief executive officer on Tuesday after a majority of the British fashion group’s board stepped down.
Business News
Shares dip after six-month peak, oil nears $70 a barrel
World stock markets were little changed on Tuesday after grazing a six-month high as investors took a breather following a three-day run of gains.
Business News
U.S. March, first-quarter auto sales drop in weak start to 2019
Major automakers on Tuesday reported weak sales for March and the first quarter citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on.
Business News
U.S. manufacturing sector stabilizing, challenges remain
New orders for key U.S.-made capital goods slipped in February and shipments were unchanged, but data for January was revised slightly higher, which could support views that the manufacturing sector was stabilizing.
Business News
Massachusetts says Wynn Resorts executives concealed sexual misconduct accusations involving Steve Wynn
Massachusetts gaming regulators on Tuesday released an investigative report concluding that former executives of Wynn Resorts Ltd concealed sexual misconduct allegations against the casino operator’s billionaire founder, Steve Wynn.
Business News
Oil hits 2019 high on signs of tighter supply; Brent eyes $70 a barrel
Oil prices hit their highest of 2019 on Tuesday, with Brent crude approaching $70 a barrel, on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut.
Business News
Fiat Chrysler Canada’s auto sales fall 11 percent in March
Fiat Chrysler Automobiles NV on Tuesday reported an 11 percent fall in total March sales in Canada.
Business News
EU has no major concerns in Germany over Vodafone-Liberty deal: sources
The European Union has not raised any major concerns about the impact on Germany’s cable market of Vodafone buying Liberty Global’s assets, sources with direct knowledge of the matter said on Tuesday, improving the chances of the deal going ahead.
Business News
Massachusetts: Wynn Resorts executives concealed sexual misconduct claims involving Steve Wynn
Massachusetts gaming regulators on Tuesday released an investigative report concluding that executives of Wynn Resorts Ltd concealed sexual misconduct allegations against the casino operator’s billionaire founder, Steve Wynn.
Business News
GM U.S. new vehicle sales fall 7 percent in first quarter
General Motors Co on Tuesday reported a 7 percent fall in U.S. new vehicle sales for the first quarter, hit by declines in passenger car sales.
Business News
Wall Street takes a breather, Walgreens slumps on profit warning
U.S. stocks pulled back on Tuesday after a three-day surge, as a profit warning from drugstore chain Walgreens Boots hit the pharma sector, while investors looked for more signs of strength in the economy in the wake of growth worries.
Business News
Bayer board says pursuit of Monsanto was done diligently
Bayer’s non-executive board reaffirmed its support for top management’s decision to acquire seed maker Monsanto last year, after losing high-profile lawsuits to U.S. plaintiffs who claimed Monsanto’s Roundup weedkiller caused their cancer.