Markets
Boeing taps former Collins Aerospace CEO Kelly Ortberg to replace Dave Calhoun
Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company’s production facility in in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. Daniel Acker | Bloomberg | Getty Images Boeing has named Robert “Kelly” Ortberg to succeed CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company […]
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Private payroll growth slowed to 122,000 in July, less than expected, ADP says
A “Now Hiring” sign is seen at a FedEx location on Broadway on June 07, 2024 in New York City. Michael M. Santiago | Getty Images Private job growth slowed further in July while the pace of wage gains hit a three-year low, payrolls processing firm ADP reported Wednesday. Companies added just 122,000 jobs on […]
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Japan confirms $36.8 billion currency intervention as weak yen pushes BOJ to hike interest rates
New Japanese 1000 Yen banknote on display inside the Currency Museum of the Bank of Japan’s Institute for Monetary and Economic Studies. The new banknotes will start circulate from July 3, 2024. Sopa Images | Lightrocket | Getty Images Japanese authorities spent 5.53 trillion yen ($36.8 billion) to shore up the yen in July, official […]
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Banks get bullish on the British pound despite the possibility of an imminent snapback
LONDON — With sterling as one of the best performing major currencies so far this year, analysts at various investment banks believe that the British pound still has more room to run, despite the Bank of England likely cutting interest rates in the near term. In a recent research note, experts at Goldman Sachs were […]
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Boeing is set to report results before the market opens. Here’s what Wall Street expects
A logo is seen on the Boeing stand on the opening day of the Farnborough International Airshow 2024, south west of London, on July 22, 2024. Justin Tallis | AFP | Getty Images Boeing is set to report results before the market opens on Wednesday. Analysts are expecting another loss and lower revenue for the […]
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Uber to start using BYD cars in Europe, Latin America and develop ‘autonomous-capable vehicles’
BYD launched the BYD Seal in Europe at the IAA auto show in Munich, Germany. The electric sedan has a starting price of 44,900 euros ($48,479). Arjun Kharpal | CNBC BEIJING — Uber and BYD announced Wednesday that drivers on the ride-hailing platform can get pricing and financing deals for the Chinese company’s electric cars, […]
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AMD jumps 9% in premarket trading as global chip stocks rally after earnings and geopolitics lift sector
Shares of global semiconductor firms rallied on Wednesday as they were boosted by some positive earnings in the sector and a report of potentially less severe U.S. export restrictions on China. AMD was among the morning’s big winners with shares up more than 9% in U.S. premarket trading after the company reported a top and […]
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ASML shares pop 7% after report that U.S. will exempt allies from new China chip restrictions
Shares of ASML jumped as much as 10% on Wednesday after a Reuters report suggested that the company could be exempted from expanded export restrictions on chipmaking gear to China. Reuters reported on Wednesday that the U.S. is considering expanding the so-called foreign direct product rule, but that allies that export key chipmaking equipment — […]
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Swiss stock exchange says trading halted due to data problems
Four Chinese companies raised about $1.5 billion in July by issuing shares on the Six Swiss Exchange via a new China stock connect program. Bloomberg | Bloomberg | Getty Images Switzerland’s stock exchange SIX said trading had been halted on Wednesday morning across all products until further notice due to issues with disseminating data. SIX […]
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HSBC reports narrow first-half profit decline, beats expectations
Aaron P | Bauer-Griffin | GC Images | Getty Images Europe’s largest lender HSBC posted a narrow decline in pretax profit in the first half of the year, but beat expectations on the back of a high-interest rate environment. The bank posted pretax profit in the six months to June of $21.56 billion, down from […]
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