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Apple iPhone sales return to growth, pushing profits above expectations

Reuters
(Reuters) – Apple Inc (AAPL.O) on Tuesday reported sales and profits for the holiday shopping quarter above Wall Street expectations, powered by a rise in iPhone sales for the first time in a year and soaring demand for add-ons like AirPods wireless headphones. FILE PHOTO: A 3D printed Apple logo......
Reuters - Business

Blink and you missed it: the U.S. yield curve inverted again

Reuters
NEW YORK (Reuters) – A closely watched bond market phenomenon has again flashed yellow, but investors are loathe to give it much weight. FILE PHOTO: Traders work on the trading floor at the New York Stock Exchange (NYSE) at the opening of the market in New York City, U.S., August......
Reuters - Business

Global stocks rebound in broad rally, safe-havens lose luster

Reuters
NEW YORK (Reuters) – Global equity markets rebounded in a broad rally on Tuesday and some safe-haven assets lost a bit of their appeal as investors took a less pessimistic view of the potential economic fallout from China’s coronavirus outbreak. Gold fell and the Japanese yen eased against the dollar,......
Reuters - Business

U.S. business investment weak; consumer confidence at five-month high

Reuters
WASHINGTON (Reuters) – New orders for key U.S.-made capital goods dropped by the most in eight months in December and shipments were weak, suggesting business investment contracted further in the fourth quarter and remained a drag on economic growth. FILE PHOTO: The view from one of the ship-to-shore cranes at......
Reuters - Business

Countdown to recession: What an inverted yield curve means

Reuters
NEW YORK – A dramatic rally in Treasuries this week led some key parts of the U.S. yield curve to reinvert, a signal that has traditionally been bearish for the U.S. economy. FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York,......
Reuters - Business

3M forecasts 2020 profit below estimates on weak China demand

Reuters
(Reuters) – U.S. industrial giant 3M Co (MMM.N) forecast 2020 profit below expectations after narrowly missing quarterly revenue estimates on Tuesday as weak demand from China dents overall growth. Shares of the company, which draws a third of its revenue from Asia, fell 4.2% and were the biggest drag on......
Reuters - Business

Factbox: Huawei’s involvement in other countries’ telecoms networks

Reuters
LONDON (Reuters) – Prime Minister Boris Johnson granted Huawei [HWT.UL] a limited role in Britain’s 5G mobile network on Tuesday, defying U.S. pressure to exclude the Chinese company from next-generation communications over fears Beijing could use them to spy. FILE PHOTO: Small toy figures are seen in front of a......
Reuters - Business

Crude prices bounce up with U.S. stock markets after virus-related selloff

Reuters
NEW YORK (Reuters) – Oil futures edged up on Tuesday after falling for five days, bouncing up with Wall Street, and crude also drew support from talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. FILE PHOTO: FILE PHOTO: Grandpuits......
Reuters - Business

Defying Trump, UK’s Johnson refuses to ban Huawei from 5G

Reuters
LONDON (Reuters) – Prime Minister Boris Johnson granted Huawei a limited role in Britain’s 5G mobile network on Tuesday, frustrating a global attempt by the United States to exclude the Chinese telecoms giant from the West’s next generation communications. Defying Britain’s closest ally in favour of China on the eve......
Reuters - Business

Defying Trump, Britain’s Johnson gives Huawei restricted 5G remit

Reuters
LONDON (Reuters) – Prime Minister Boris Johnson granted Huawei [HWT.UL] a limited role in Britain’s 5G mobile network on Tuesday, resisting U.S. pressure to exclude the Chinese company from next generation communications over fears Beijing could use them to spy. Britain’s Prime Minister Boris Johnson reacts as he listens to......
Reuters - Business

Wall Street opens higher after Monday’s selloff

Reuters
FILE PHOTO: A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., January 24, 2020. REUTERS/Lucas Jackson/File Photo (Reuters) – U.S. stock indexes opened higher on Tuesday after the S&P 500 suffered its worst day in nearly four months......
Reuters - Business

Harley-Davidson’s shares tumble on steeper fall in revenues

Reuters
CHICAGO (Reuters) – Harley-Davidson Inc (HOG.N) on Tuesday reported a larger-than-expected decline in its motorcycles revenue, hurt by a continuing slide in retail sales in the United States, sending its shares plunging in pre-market trade. FILE PHOTO: Customers look at the showroom inventory at Harley-Davidson of Frederick in Frederick Maryland,......
Reuters - Business

Wall Street set to recover after turbulent Monday

Reuters
(Reuters) – U.S. stock indexes were on track to recover on Tuesday after the S&P 500 suffered its worst day in nearly four months in the previous session on fears that a coronavirus outbreak could hit global economic growth. FILE PHOTO: A trader works on the floor of the New......
Reuters - Business

Pfizer profit misses as breast cancer drug sales fall short of estimates

Reuters
FILE PHOTO: A man enters the employee entrance of the Pfizer World Headquarters building in the Manhattan borough of New York, U.S., November 23, 2015. REUTERS/Brendan McDermid/Files (Reuters) – Pfizer Inc (PFE.N) posted a quarterly profit on Tuesday that came in below Wall Street estimates, as sales of breast cancer......
Reuters - Business

Pfizer posts 9% fall in fourth-quarter revenue

Reuters
FILE PHOTO: A man enters the employee entrance of the Pfizer World Headquarters building in the Manhattan borough of New York, U.S., November 23, 2015. REUTERS/Brendan McDermid/Files (Reuters) – Pfizer Inc (PFE.N) reported a 9% drop in fourth-quarter revenue, hurt by intense competition for its pain treatment Lyrica that lost......
Reuters - Business

Facebook, HSBC and others curb travel to China as warnings grow

Reuters
SHANGHAI/SEOUL/HONG KONG (Reuters) – Facebook Inc (FB.O) and other global companies including LG Electronics Inc (066570.KS) and HSBC (HSBA.L) are restricting travel to China, as the death toll from a flu-like virus rose above 100 on Tuesday. FILE PHOTO: Facebook branding is seen in a workspace at the company’s offices......
Reuters - Business

Johnson’s choice: Britain faces policy test over Huawei 5G role

Reuters
LONDON (Reuters) – Prime Minister Boris Johnson will decide if China’s Huawei should have a role in Britain’s future 5G mobile network on Tuesday, a choice that risks damaging relations with the United States or China on the eve of Brexit. Britain’s Prime Minister Boris Johnson reacts as he listens......
Reuters - Business

Oil rout extends to sixth day as China virus death toll rises

Reuters
LONDON (Reuters) – Oil futures were set for a sixth day of losses as the death toll from a virus in China rose, but the heavy sell-off of recent sessions was curbed by output outages in Libya and OPEC comments designed to calm demand fears. FILE PHOTO: FILE PHOTO: Grandpuits......
Reuters - Business

Coronavirus infects Asia stocks with exposure to China

Reuters
SYDNEY (Reuters) – Shares of companies highly exposed to China’s economy tumbled across Asia on Tuesday on rising concern about the impact of global travel bans associated with a virus outbreak, and even as some stocks involved in preventative health spiked. FILE PHOTO: Investors look at computer screens showing stock......
Reuters - Business

Airbus agrees to settle corruption probes with U.S., France, UK

Reuters
PARIS (Reuters) – Airbus (AIR.PA) has agreed in principle to a settlement with French, British and U.S. authorities over an investigation into allegations of bribery and corruption, it said on Tuesday. FILE PHOTO: An Airbus A350 takes off at the aircraft builder’s headquarters in Colomiers near Toulouse, France, September 27,......

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