StockMarketNews.Today – Business News & Financial News
Bank of America Corp cited the possibility of negative interest rates in the United States as a business risk for the first time in a filing on Wednesday. The unconventional policy measure has been a talking point for President Donald Trump, who has critiqued the Federal Reserve for raising interest rates earlier in his presidency. […]
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◊ Tesla Production In Shanghai ◊ ⇑⇓ StockMarketNews.Today ⇓⇑ U.S. electric carmaker Tesla‘s factory in China’s financial hub of Shanghai will resume production on Feb. 10 with assistance to help it cope with a spreading epidemic of coronavirus, a Shanghai government official said on Saturday. Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic […]
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◊ Stock Market News Jobs Report ◊ StockMarketNews.Today Wall Street pulled back from record levels on Friday, as investors assessed the U.S. employment report that showed jobs growth accelerated in January but included a downward revision to some previous numbers. Nonfarm payrolls increased by 225,000 jobs last month, the Labor Department’s data showed, much higher […]
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StockMarketNews.Today — Amazon said it expects to bring the 15,000 jobs to Bellevue over the next few years. More than 2,000 employees currently work in Bellevue, and the company has about 700 job openings in the city. The company opened its first office building in Bellevue in 2017. The city is also where Amazon got […]
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Stock Market News — German industrial output registered its biggest drop in more than a decade in December, highlighting the weakness of the manufacturing sector that is dragging on overall growth in Europe‘s largest economy. Industrial production tumbled by 3.5% on the month, undershooting expectations for a 0.2% fall, figures released by the Statistics Office […]
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Global stocks extended their recovery on Thursday, cheered by record closes in Wall Street benchmarks following encouraging economic data, and after China announced a cut in tariffs on some imported goods from the United States. The tariff relief added to hopes the global economy may be able to avoid a major shock from China’s rapidly-spreading […]
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Stock Market News — { Wednesday – 5th February 2020 } Here’s what you need to know in financial markets on Wednesday, 5th February. 1. Coronavirus toll nears 500; markets grasp at news of drug progress The death toll from the coronavirus reached 493, another rise of over 16% on the previous day, but more […]
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Stock Market News — Financial markets in mainland China are set to reopen on Monday, after the holiday for the Lunar New Year was extended by the government amid the Coronavirus outbreak. Investors will continue to monitor the global economic fallout from the virus’s progression, which has largely overshadowed earnings season so far. Disney , […]
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Today’s Stock Market News — U.S. equity markets wiped out their gains for the year on Friday, following European and Asian shares lower as concern escalated about the impact of the coronavirus on global growth. The death toll from the epidemic had risen to 213, Beijing said, with another 9,811 confirmed cases worldwide and a […]
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Stock Market News Today— Traders have been scrambling to protect themselves from a collapse in US stocks, spooked by the coronavirus outbreak, the looming presidential race and the sheer strength of last year’s rally. The US equity market climbed 29 per cent in 2019 and started this year strongly, but the spreading nervousness has sent […]
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⇑⇓ Today’s Stock Market Quotes ⇓⇑ Stock Market News — European stocks rose on Tuesday, after posting their worst day in about four months in the previous session on concerns about the potential impact on businesses from the coronavirus outbreak. The pan-European STOXX 600 index (STOXX) was up 0.3% at 08:07 GMT. Airbus (PA:AIR) was the biggest […]
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Stock Market — The week ahead is arguably the most important here at the start of 2020. The Federal Reserve and the Bank of England meet. The U.S. and the eurozone report initial estimates of Q4 19 GDP. The eurozone also reports its preliminary estimate of January CPI. China returns from the extended Lunar New […]
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Trading News — There’s an ominous technical indicator hovering over the U.S. dollar, which could mean a move away from the greenback. But don’t go looking for value in bitcoin, according to one fund manager speaking at the World Economic Forum in Davos, Switzerland this week. Meanwhile, as lower interest rates have been a boon […]
Read More… Stock Market News — The S&P 500 erased early gains and fell 0.6 per cent around lunchtime in New York. The Nasdaq Composite, which had registered an intraday record high in morning trade, was down 0.5 per cent even as upbeat earnings from Intel — which surged to its highest level since September 2000 — […]
Read More… Stock Market — The downturn in global trade dragged on at the end of last year, marking the longest period of contraction since the end of the financial crisis. The volume of goods trade dropped 0.6 per cent in November compared to the previous month, and was down 1.1 per cent compared to the same […]
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Stock Market News – 23 January 2020 — Airlines and passengers are on guard against a new flu-like virus that originated in Wuhan, China. Here’s an explainer on the airline industry’s response to the outbreak so far and its potential financial exposure compared to SARS in 2003, which killed nearly 800 people: WHAT IS THE […]
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Stock Market News Today — US stocks hit records, with the S&P 500, Nasdaq Composite and Dow Jones Industrial Average each hitting all-time intraday highs soon after the open. Asian markets rebounded from the previous session’s sell-off. Hong Kong’s Hang Seng index rose 1.3 per cent, recovering some of Tuesday’s losses, while shares in mainland […]
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Investors have grown more concerned over the threats posed by this year’s US presidential election than the global trade war, underscoring the importance of America’s public policy as markets sit at record highs. A survey of fund managers by Bank of America, released on Tuesday, showed that concerns over global trade had fallen to second […]
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♦ Today’s Stock Market News – Tuesday, 21 January, 2020 ♦ ◊ Stock Market News Today – Tuesday, 21 January, 2020 ◊ StockMarketNews.Today — Moody’s has cut Hong Kong’s credit rating, saying the government’s “slow” and ineffective response to months of protests has prompted it to reassess the Chinese territory’s institutional strengths and governance. Hong […]
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♦ Brussels Briefing ♦ Stock Market News — Stock Market Today The EU’s fiscal rules are widely disliked given their impenetrable and convoluted nature — yet it is difficult to avoid setting off political landmines somewhere in the union when any change to them is mooted. In early February, the commission will tread delicately back […]
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♦ European Stocks – U.S. Stocks ♦ Stock Market Today — U.S. stocks traded at record levels and those in Europe hit a fresh high on Friday. The region-wide Stoxx Europe 600 index rose 1 per cent for its fourth straight day of gains. Paris’s CAC 40 climbed 1 per cent, while Frankfurt’s trade sensitive […]
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♦ Tech Sector Leads Stocks Higher ♦ StockMarketNews.Today — U.S. equities rose, led by shares of technology companies, in a week expected to be dominated by the start of earnings season and the signing of a partial China trade deal. Apple, Tesla and Microsoft pushed the Nasdaq Composite Index higher. The Stoxx Europe 600 swung […]
Read More… Today’s Stock Market News – Sunday, 12 January, 2020 ⇑⇓ Stock Market News Today ⇓⇑ — The United States and China have agreed to restart semi-annual talks aimed at resolving economic disputes between the two countries, a process abandoned at the start of the Trump administration as a trade conflict between the countries escalated. An official […]
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⇑⇓ STOCK MARKET NEWS TODAY — BUSINESS & FINANCIAL NEWS ⇓⇑ Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin announced Friday that the U.S. would impose new sanctions on Iran’s metal exports and a handful of the country’s senior officials. The new penalties came days after Iran fired a barrage of missiles at […]
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Stock Market News — U.S. job growth slowed more than expected in December, but the pace of hiring remains more than enough to keep the longest economic expansion in history on track despite a deepening downturn in a manufacturing sector stung by trade disputes. The Labor Department’s closely watched monthly employment report on Friday also […]
Read More… ◊ Stock Market News Today – Friday, 10 January, 2020 ◊ StockMarketNews.Today — Stocks march higher as Middle East tensions ease… World stocks set new record highs on Friday and the prices of safe-haven assets such as gold pulled back as investors cheered an apparent de-escalation in U.S.-Iran tensions and looked instead to prospects of […]
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⇑⇓ STOCK MARKET NEWS TODAY — BUSINESS & FINANCIAL NEWS ⇓⇑ StockMarketNews.Today — Over half of Americans (55%) say they are not participating in the stock market, according to a 2019 poll of over 8,000 U.S. adults conducted by MetLife. Gen Z (18 to 24) and millennials (defined here those 25 to 34) are opting […]
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⇑⇓ STOCK MARKET NEWS TODAY — BUSINESS & FINANCIAL NEWS ⇓⇑ StockMarketNews.Today — A flare-up in U.S.-Iran tension may be keeping oil elevated, but an actual disruption to global crude supplies is needed to keep prices at current levels, according to Goldman Sachs Group Inc . Price risks for Brent, which has surged about 6% […]
Read More… ⇑⇓ STOCK MARKET NEWS TODAY — BUSINESS & FINANCIAL NEWS ⇓⇑ The first full trading week of 2020 looks likely to be action packed with geopolitics firmly back on top of the market agenda after a spike in oil prices in the wake of the U.S. killing of a top Iranian commander. Investors will also […]
Read More… ⇑⇓ STOCK MARKET NEWS TODAY — BUSINESS & FINANCIAL NEWS ⇓⇑ StockMarketNews.Today — 1. No end in sight to the U.S.-China struggle for supremacy. The trade war between the U.S. and China, which hobbled the world economy almost single-handedly in 2019 is likely to leave deep marks on 2020 too. The International Monetary Fund estimated […]
Read More… • StockMarketNews.Today • As investors celebrate the outsized gains they made in the stock market in 2019, they may be getting ready to sell some of their winners once 2020 begins. Investors Bet on Volatility Comeback in 2020 There’s little to stand in the way of the rising stock market at this point as it drifts, […]
Read More… ◊ China Economic Growth 2020 ◊ China plans to set a lower economic growth target of around 6% in 2020 from this year’s 6-6.5%, relying on increased state infrastructure spending to ward off a sharper slowdown, policy sources said. Chinese leaders are trying to support growth to limit job losses that could affect social stability, […]
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◊ FedEx Financial News – Stock Market News Today ◊ FedEx Corp. said it was ending its contract to deliver Amazon.com Inc. packages through its ground network, essentially severing ties with one of the world’s biggest shippers. The delivery giant said Wednesday it decided not to renew the contract when it expires at the end […]
Read More…◊ U.S. Agriculture News — Stock Market News Today ◊ China is the fourth largest market for U.S. farm exports, behind Canada, Mexico and Japan. Former Iowa Lt. Gov. Patty Judge said the loss of a trading partner like China sets up a “dangerous situation.” … With China officially pulling out of buying U.S. agricultural products, […]
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Target delivered better-than-expected earnings during the critical holiday sales period as the retailer’s in-house brands and easy delivery options drew its strongest traffic and same-store sales growth in more than a decade. The company’s adjusted earnings per share hit a new record and its digital sales surged more than 25 percent for the fifth year in a row, even as its net income slid 26.5 percent.
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New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a further slowdown in business spending on equipment that could crimp economic growth.
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Lyft now expects to be valued at between $20 billion and $25 billion in its IPO, the sources said, adding that the roadshow is expected to last for about two weeks. The sources cautioned that the plans were still subject to change and market conditions.
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The talks are aimed at “achieving needed structural changes in China that affect trade between the United States and China. The two sides will also discuss China’s pledge to purchase a substantial amount of goods and services from the United States,” the White House said in a statement.
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HSBC Holdings turned in a disappointing annual profit as higher costs and a stocks rout chipped away at its trading businesses, while warning that an economic slowdown in China and Britain would throw up further hurdles this year.
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Uber is aiming for an IPO that could value it at as much as $120 billion. Chief Executive Dara Khosrowshahi has worked to shore up the company’s balance sheet by selling unprofitable units and completing fundraising including investments from SoftBank Group Corp. and Toyota Motor Corp. , and a large debt sale.
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Farmers are waiting for more clarity on trade deals before buying equipment. The company said Friday that initial orders of tractors, combine harvesters and other equipment were weak, contributing to the lower-than-expected quarterly profits.
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The music-streaming company, which is already the second-largest podcasting platform, said it would buy podcast publisher Anchor in a move to increase its presence in other forms of audio. It also said it is buying podcast producer Gimlet Media.
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While January is typically a slower month for new-vehicle sales, analysts say the rising stock levels are becoming problematic because car companies will start this year with more unsold inventory than they had three years ago when U.S. auto sales peaked at 17.55 million for the year.
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“The hypothetical scenario features the largest unemployment rate change to date,” said Randal Quarles, the Fed’s vice chairman for supervision, in a written statement. “We are confident this scenario will effectively test the resiliency of the nation’s largest banks.”
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In a statement published Monday, 11 of the 14 members of the Lima Group called for a “peaceful transition through political and diplomatic means without the use of force.”
The group also underscored the need for an urgent delivery of humanitarian aid and insisted international governments “take measures to prevent the Maduro regime … from doing business in oil, gold and other assets.”
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Alphabet Inc., parent company of the Internet search giant, reported mostly strong fourth-quarter results Monday afternoon. Revenue grew 22% year over year to $39.3 billion, beating Wall Street’s forecasts. That was driven by yet another quarter of 20% growth for the company’s colossal advertising business, which now generates more than $116 billion in revenue annually.
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On Monday, the U.S. imposed sanctions on Venezuela’s state-owned oil giant in an attempt to prevent the proceeds of crude sales to the U.S. from reaching the government of President Nicolás Maduro.
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Hershey said it expects sales to increase by 1% to 3% this year, with earnings per share rising by 5% to 7%—in line with analyst estimates, according to FactSet.
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Several utilities urged customers to cut back on power and gas use on Thursday during the brutal freeze blanketing the eastern half of the country after U.S. homes and businesses used record amounts of natural gas for heating on Wednesday
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“The case for raising rates has weakened somewhat,” Fed Chairman Jerome Powell said at a news conference after the central bank’s latest policy meeting
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Alibaba’s fiscal third quarter revenue was 117.28 billion yuan ($17.5 billion), compared with 83.03 billion yuan the same period a year before, the company reported Wednesday. Its quarterly net income increased 37% to 33.05 billion yuan, above the 21.430 billion yuan that analysts had expected.
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Venezuela has been trying for years to increase its gold reserves by encouraging mining, putting the military in charge of vast territories that yield the precious metal.
With strongman President Nicolas Maduro losing control of the country’s already-scant finances and reserves thanks to U.S. sanctions, who can put his hands on the nation’s estimated 200 tons of gold at home and abroad has become a key question.
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In order to buy stocks, you need the assistance of a stockbroker who is licensed to purchase securities on your behalf. However, before you make a decision on a broker, you need to figure out what type of stockbroker is right for you.
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Caterpillar said that lower demand in China is leading to declining sales in Asia and that the company expects the overall market for excavators in China to be largely flat this year.
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The federal government shutdown cost the economy $11 billion, according to a new analysis from the nonpartisan Congressional Budget Office.
Although most of the damage to the economy will be reversed as the government re-opens and workers return to their jobs, the CBO estimated $3 billion in economic activity is permanently lost.
Stocks around the world are rallying at the fastest pace in months, the latest sign that the fears investors grappled with late last year have largely subsided. But worries remain that markets still aren’t on solid ground.
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Google is the latest tech firm to explore using AI in health care. Amazon.com Inc., International Business Machines Corp. and UnitedHealth Group Inc. sell software that mines patients’ records, and IBM developed AI that detects melanoma on images of skin.
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Europe has become a key battleground for Huawei, the world’s largest supplier of telecommunications equipment. The region is the company’s second-largest market after China, largely because of lucrative partnerships with carriers that, in addition to Vodafone, include BT Group, Deutsche Telekom and Telefonica.
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The online retail giant is asking consumer-goods companies to create brands exclusively for Amazon after finding that developing them on its own is too costly and time-consuming, according to people familiar with the strategy.
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In a statement, Facebook said it wanted to “build the best messaging experiences we can; and people want messaging to be fast, simple, reliable and private.” It added: “We’re working on making more of our messaging products end-to-end encrypted and considering ways to make it easier to reach friends and family across networks.”
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“2019 is likely a transformational year for Disney. Stepping back from the complexity, it will exit the year in a different place than it begins. Significant investments in content, theme parks, and M&A weigh on near-term earnings, but should set up the business for long-term growth,” Morgan Stanley analyst Benjamin Swinburne wrote Thursday.
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“Investors who were already excited about the U.S. chip sector’s earnings the day before got even more reassured after they saw how their stocks moved,” said Shogo Maekawa, a global market strategist at JPMorgan (NYSE:JPM) Asset Management.
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It wasn’t immediately clear why the search engine became unavailable and whether the Chinese government had blocked it. The Cybersecurity Administration of China didn’t respond to a request for comment. The service interruption comes at a sensitive time for U.S. companies operating in China, as trade disputes between the two countries simmer.
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P&G said it expects organic sales growth for the full year of between 2% and 4%, an improvement on its prior projection of 2% to 3%.
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An Amazon spokesperson said the company is “always working to develop new, innovative ways to support the small and medium businesses who sell on Amazon, including testing shipping programs that help these businesses get packages to their customers quickly and reliably.”
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The stock lost about 30 percent in the six months that followed its Hong Kong debut, the city’s worst-performing initial public offering with a value of at least $3 billion.
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Existing home sales, which make up about 90 percent of U.S. home sales, plunged 10.3 percent from a year ago. For all of 2018, sales fell 3.1 percent to 5.34 million units, the weakest since 2015.
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Berkshire Hathaway’s geothermal wells could produce up to 90,000 tonnes of lithium a year worth $1.5 billion at current prices, the report said, citing a fundraising document.
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Acquiring the closely held site would give Airbnb a way to show investors more growth potential and demonstrate it can branch out beyond its core short-term, home-rental business ahead of a share listing the company has said could come this year or next.
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The departures are part of an exodus from Snap’s executive team that has shaken investor confidence and put renewed pressure on Mr. Spiegel to stabilize the firm’s leadership. Earlier this week, Tim Stone, the company’s chief financial officer, stepped down after less than a year on the job and weeks before the company is set to report 2018 earnings
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“When things move a little bit up or down every day, that’s good,” Morgan Stanley Chief Financial Officer Jon Pruzan said in an interview. “When they go up 600 points one day and down 600 points the next, that’s bad.”
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Import prices declined 1.0 percent last month after dropping 1.9 percent drop in November. Economists polled by Reuters had forecast import prices decreasing 1.3 percent in December.
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Softening demand in China is being felt around the world, with slowing sales of goods from iPhones to automobiles, prompting warnings from the likes of Apple (NASDAQ:AAPL) and from Jaguar Land Rover, which last week announced sweeping job cuts.
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The cloud business bolsters the margins of both companies; 60% of Amazon’s trailing 12-month operating earnings came from its AWS cloud segment, which accounted for only 11% of the company’s revenue in that time.
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Analysts believe “Destiny” generated about $370 million in total revenues in 2018, according to consensus estimates from Visible Alpha. That would rank the game fifth on Activision’s slate—well below its other big properties such as “Call of Duty,” “World of Warcraft” and “Overwatch.”
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The decline is the result of fewer orders of American gasoline and congestion at Mexico’s Gulf Coast fuel terminals where at least 15 tanker vessels were idling in the Gulf of Mexico waiting to unload several million barrels of gasoline as of Friday, according to industry analysts and government officials.
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The iShares Nasdaq Biotech Index gained 13 percent in the first eight trading days of the year, finishing lower just one day since the market selloff on Christmas eve. It marks a major reversal following 20-percent plunge in the index in the fourth quarter.
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Analysts generally expect the partial government shutdown — which President Donald Trump said could last for months if not years, and is now in its third week. The shutdown has also delayed government data releases, such as retail sales and inventories, that investors and analysts use to assess the state of the economy.
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Crude’s direction in coming weeks may be determined by whether the Organization of Petroleum Exporting Countries and allies including Russia implement output cuts they have promised for the first six months of 2019. Also crucial will be the outcome of trade negotiations between the U.S. and China — the world’s two biggest economies. A deal between the nations could boost flagging global growth that underpins oil demand.
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Data later this month is expected to show the Chinese economy grew around 6.6 percent in 2018 – the weakest since 1990. Analysts are forecasting a further loss of momentum this year before policy support steps begin to kick in.
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Billions of Xiaomi shares have been unlocked for sale after the six-month lockup period that followed the company’s debut expired. That’s enabled many shareholders, who could only watch as the stock shed $14 billion in market value, to finally join the selling.
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Both crude price benchmarks added to Tuesday’s 2 percent gains and have now been on the rise for eight straight days – their longest rally since June 2017
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Stock-market swings, high home prices and a traditionally slow time of year for home buying have largely kept a lid on housing-market activity in recent months. Yet as rates have steadily fallen, some agents said they have seen buyers start to creep back into the market.
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The Institute for Supply Management said on Monday its non-manufacturing activity index fell to 57.6 last month, the lowest reading since July, from 60.7 in November.
Still the index stayed well above the 50 mark, suggesting expansion of the vast services sector. Analysts polled by Reuters had forecast a reading of 59.0.
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U.S. and Chinese officials are set to begin trade negotiations on Monday. Here are seven issues that will be key to making headway
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There are reasons to be both optimistic and pessimistic, and that has led to the one constant of recent weeks: There will be volatility.
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The company said on Friday that it was reviewing its “structural options” and assessing its operations, finances, management, structure and governance. It also said it is searching for new directors at its holding company and its utility subsidiary Pacific Gas and Electric Co.
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IPhone maker may need to break with past practices and become more price-competitive to get out of its growth woes
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The upbeat employment report from the Labor Department on Friday stood in stark contrast with reports this week showing Chinese factory activity contracting for the first time in 19 months in December and weak manufacturing across much of Europe and Asia.
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China’s commerce ministry said a U.S. trade delegation led by Deputy Trade Representative Jeffrey Gerrish will visit China on Monday and Tuesday. The news provided some relief for equities markets, which faced pressure Thursday amid intensifying fears regarding the health of the global economy.
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The Institute for Supply Management (ISM) survey published on Thursday offered a downbeat assessment of the manufacturing sector, with almost all components declining last month. Concerns about the economy’s health are escalating despite the labor market remaining strong.
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The companies said their pipeline includes six expected near-term product launches representing more than $15 billion in revenue potential.
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Apple stocks tumble after company cuts forecasts for key quarter. Tim Cook cites unforeseen magnitude of economic slowdown in China in a letter to shareholders explaining the change
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More than three dozen drugmakers raised the prices on hundreds of medicines in the U.S. on Tuesday, according to an analysis from Rx Savings Solutions, which sells software to help employers and health plans choose the least-expensive medicines. The average increase was 6.3%, according to the analysis, including increases on different doses for the same drug.
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Global stock markets fell on the first trading day of 2019 on deepening fears of a slowdown in the Chinese economy
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New orders — an indicator of future activity — fell for the first time in two and a half years, with companies reporting subdued demand despite some price discounting. New export orders shrank for the ninth month in a row.
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The crypto true believers who stuck around through the slump also hope that 2019 brings an influx of institutional investors to the market.
That effort could get a boost when Intercontinental Exchange Inc. — the parent of the New York Stock Exchange — launches its crypto-focused exchange, Bakkt, which will allow customers to buy, sell, store, and spend digital currencies.
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At Netflix, Mr. Neumann will be reunited with several former Disney colleagues, including board member Anne Sweeney, who oversaw a large chunk of the company’s television operations.
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Most are new to online shopping and often don’t have smartphones, credit cards or even delivery addresses. What they do have is money to spend.
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The Chinese National Bureau of Statistics said on Monday official manufacturing Purchasing Managers’ Index (PMI) was 49.4 — lower than the 49.9 analysts expected in a Reuters poll. The December reading was the weakest since February 2016.
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“The biggest question when it comes to sea-level rise is: How will the Antarctic ice sheets react to ongoing climate change?” says Ricarda Winkelmann, an ice-sheet modeler in Germany’s Potsdam Institute for Climate Impact Research.
When Dr. Winkelmann talks to policy makers and business people, they want to know what is the worst-case scenario, and how fast will climate-related changes occur, she says.
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Goldman’s somber assessment came only weeks after the bank said the negative impact of falling stocks and rising interest rates would likely to be offset by higher wages and oil prices in retreat.
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Total U.S. agricultural export shipments to China for the first 10 months of 2018 fell by 42 percent from a year earlier to about $8.3 billion, according to the U.S. Department of Agriculture.
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Smaller, ultraefficient long-range airliners are overtaking the once celebrated giant of the sky; crammed seats and fewer perks. Delta has replaced its fleet of jumbo jets with Airbus A350s, one of a new breed of smaller, ultraefficient long-range airliners. Nearly every other airline in the world is doing a version of the same thing, replacing huge jets with smaller ones.
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“The last few days have been abnormal volatility,” Christopher Ailman, chief investment officer at CalSTRS, told CNBC during a special aired Thursday night.
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Top of mind in the U.S. this week is the partial government shutdown, which is expected to continue into January as the issue of funding a wall on the border with Mexico cleaves further open a partisan split in Congress.
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Tech giant used much of its windfall from tax overhaul to buy back shares, but recent plunge in stock prices makes strategy look like a bad idea
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The drop in consumer confidence in December was mostly fueled by falling measures of expectations, with more people expecting jobs will become more scarce. The Conference Board on Thursday said its consumer confidence index fell this month by 8.3 points to a reading of 136.4, the largest one-month drop since July 2015.
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Foxconn, which already makes phones for Xiaomi Corp in India, will invest 25 billion Indian rupees ($356 million) to expand the plant, including investment in iPhone production. For Apple, widening assembly beyond China is critical to mitigate the risks of the Sino-U.S. trade war.
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JPMorgan improperly provided American depositary receipts for foreign shares that weren’t in the bank’s custody, which led the bank to inflate the number of a foreign company’s tradable shares, the Securities and Exchange Commission said Wednesday.
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Industrial profits fell 1.8 percent in November from a year earlier to 594.8 billion yuan ($86.33 billion), the National Bureau of Statistics (NBS) said on its website on Thursday. It marked the first decline since December 2015.
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Australia overtook Qatar as the world’s largest exporter of LNG for the first time in November, after the start-up of a number of export projects over the past three years, most recently the Ichthys facility.
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JD.com’s American depositary receipts have plunged 52.3% in the past year, closing at $19.75 on Monday. The buyback program is worth about 3.5% of the company’s market capitalization, and the company said it would be completed over the next 12 months.
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