By Dan Burns (Reuters) -Barring any abrupt change in the direction of recent economic data, the U.S. Federal Reserve may be at the stage where it can leave interest rates where they are, Philadelphia Fed President Patrick Harker said on Tuesday. “Absent any alarming new data between now and mid-September, I believe we may be…
By Granth Vanaik and Juveria Tabassum (Reuters) -Under Armour posted a surprise first-quarter profit and beat sales expectations on Tuesday, as cost pressures eased and higher discounts upheld demand for the sportswear maker’s clothes and footwear. Under Armour, like many other clothing brands, has been offering steep discounts in a bid to clear its bloated…
(Reuters) -Walmart has paid $1.4 billion to buy out hedge fund Tiger Global’s investment in its Indian e-commerce firm Flipkart and acquired private equity firm Accel’s remaining 1% stake in the company as well, media reports said on Monday. The Wall Street Journal said Walmart bought the shares from Tiger Global recently, valuing the Indian…
(Reuters) – Ratings agency Moody’s on Monday downgraded several mid-sized U.S. banks, warning that the credit strength of lenders will likely be tested by funding risks and weaker profits. Moody’s also said it may downgrade some of the largest U.S. lenders, in a blow to the industry that regained stability after several bank failures earlier…
(Reuters) -AMC Entertainment Holdings said on Tuesday the current quarter was off to a strong start, driven by box-office hits such as “Barbie” and “Oppenheimer”, after posting a surprise profit and beating second-quarter revenue estimates. Shares of the movie theater chain rose nearly 3% in early trading. The stock, a hot favorite of retail investors,…
By Ismail Shakil and David Ljunggren OTTAWA (Reuters) -Canada’s trade deficit widened to C$3.73 billion ($2.77 billion) in June from May, the largest in nearly three years, as exports dropped 2.2%, outpacing an 0.5% decline in imports, Statistics Canada said on Tuesday. Analysts in a Reuters poll had forecast a shortfall of C$2.90 billion. Statscan…
By Gabriel Araujo SAO PAULO (Reuters) – Airbus would be open to sell a stake in helicopter maker Helibras to a potential strategic partner after it reached full ownership of the Brazilian company earlier this year, the head of the subsidiary told Reuters on Monday. The European planemaker, which has controlled the formerly state-owned Helibras…
By Alessandra Prentice DAKAR (Reuters) – Niger’s military coup is hampering United Nations’ humanitarian efforts in one of the world’s poorest countries as border and airspace closures have cut off supplies of medicine and food, a U.N. official said on Tuesday. U.N. aid agencies are scrambling to eke out depleting stocks just as regional sanctions…
By Samrhitha A (Reuters) -Fox Corp topped Wall Street expectations for quarterly profit on Tuesday as the Rupert Murdoch-controlled company benefited from an industry-wide uptick in the advertising market, sending the broadcaster’s shares up nearly 5%. Companies that had cut back on their marketing budgets are looking to advertise again, bolstered by hopes of improving…
A look at the day ahead in U.S. and global markets by Alun John. U.S. equity markets saw their first positive day in August on Monday, but then along came Chinese trade data. Nasdaq and S&P500 futures are both back in the red, European shares are down, and Hong Kong stocks took another kicking. Italy’s…
