Gap Inc posted quarterly same-store sales that fell short of analysts’ estimates on Thursday, as Old Navy suffered its worse comparable sales figures in three years ahead of a planned spin-off of the brand.
An index of stock markets worldwide crept lower on Thursday on uncertainty over the outlook for U.S. interest rate cuts and weak U.S. manufacturing data that raised concerns about the health of the world’s largest economy.
Gap Inc’s quarterly same-store sales fell short of analysts’ estimates on Thursday, hit by weakness at its Gap and Old Navy brands, sending its shares down 5% in extended trading.
Two Federal Reserve officials on Thursday said they see no need for an interest rate cut next month, while another said he was “open-minded,” highlighting policymakers’ divisions over how to respond to signs of a global economic slowdown.
The benchmark S&P 500 ended little changed on Thursday as a fall in U.S. jobless claims offset data showing a contraction in U.S. manufacturing activity while investors awaited Federal Reserve Chair Jerome Powell’s speech on Friday for clues on the central bank’s monetary policy.
News Corp is developing a news-aggregation service to compete with Alphabet Inc’s Google News and could be launched later this year, the Wall Street Journal reported citing people familiar with the matter.
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U.S. Secretary of State Mike Pompeo on Thursday assured Canadian Prime Minister Justin Trudeau that American officials were working to free two Canadian men who have been held by China since late last year.
Buyout firm KKR & Co Inc is exploring a sale of Epicor Software Corp that could value the U.S. enterprise resource planning software provider at close to $5 billion, including debt, people familiar with the matter said on Thursday.
An index of stock markets worldwide edged lower on Thursday on uncertainty over the outlook for U.S. interest rate cuts and weak U.S. manufacturing data that raised concerns about the health of the world’s largest economy.
The U.S. Federal Aviation Administration plans to test next month how pilots with around one year of experience flying Boeing 737 jets handle new software on the MAX model, four sources with knowledge of the matter said.
Boeing Co has told suppliers it will resume production of its best-selling 737 jets at a rate of 52 aircraft per month in February 2020, then stepping up to a record 57 jets monthly in June, three people familiar with the matter told Reuters.
U.S. Transportation Secretary Elaine Chao on Thursday named 22 people to a new panel that will advise the department on aviation safety oversight and certification programs as the Federal Aviation Administration continues to grapple with the fallout from two fatal Boeing 737 MAX crashes.
The benchmark S&P 500 and the Nasdaq fell on Thursday after weak U.S. manufacturing data raised concerns about the health of the economy, with comments from Fed officials dampening hopes of future interest rate cuts.
The U.S. Federal Reserve wanted to do two things when it cut rates for the first time in a decade last month: Support the economy and spark inflation expectations.
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