Finance

U.S. stocks moved broadly lower on Wall Street Thursday after weak earnings from several large companies pulled down the technology sector. The early slump marks a turnaround from Wednesday, when a series of solid earnings reports helped push major indexes to record highs. This is one of the busiest weeks in the latest round of […]

WASHINGTON, July 25 (Reuters) – Ford Motor Co, BMW AG, Volkswagen AG and Honda Motor Co said on Thursday they have reached a voluntary agreement with the state of California to adopt compromise vehicle emissions rules. The four major automakers’ agreement to recognize California’s legal authority to set vehicle rules is at odds with a

Four major automakers have reached a secret deal with California to increase gas mileage and greenhouse gas emissions standards, bypassing the Trump administration’s plan to freeze standards at 2021 levels, according to two people briefed on the matter. Ford, BMW, Honda and Volkswagen are parties to the deal with the California Air Resources Board, which

American Airlines Group Inc. on Thursday reported second quarter profit of $662 million. The Fort Worth, Texas-based company said it had net income of $1.49 per share. Earnings, adjusted for non-recurring costs, came to $1.82 per share. The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was

World shares are mostly higher as investors watch for policy moves by the European Central Bank. The gains follow record high closes for the S&P 500 and Nasdaq overnight. South Korea’s Kospi declined, however, after rival North Korea launched two short range missiles into the sea. The missiles fired early Thursday were the first weapons

Nissan says it is slashing 12,500 jobs or about 9% of its global workforce in an effort to cut costs and achieve a turnaround, as its profits tumble. Nissan Motor Co. reported the job cuts Thursday with its fiscal first quarter earnings statement. Company officials did not immediately give details on a regional breakdown or

China’s Export-Import Bank is expected to finance 85% of a 44 billion ringgit ($10.7 billion) rail link project in Malaysia that will bolster economic development in rural eastern states, Transport Minister Loke Siew Fook said Thursday. The East Coast Rail Link across peninsular Malaysia was suspended a year ago shortly after Prime Minister Mahathir Mohamad’s

Norfolk Southern Corp.’s earnings chugged ahead 2% even though the railroad hauled 4% less freight in the second quarter because it was able to raise its shipping rates. The Norfolk, Virginia-based company said it earned net income of $722 million, or $2.70 per share. That’s up from $710 million, or $2.50 per share, a year

The demand for next day delivery helped to fuel a profit jump of 13% at UPS during the second quarter. Both profits and revenues topped Wall Street expectations, sending shares up more than 8% Wednesday. UPS earned $1.69 billion, boosted by a 30% increase in next-day air shipments. The Atlanta company’s revenue rose 3% to

When David Winters’ staffers ask for financial help, advice or to borrow a company car, the answer is yes. “We have single working mothers, single working fathers, folks with four and five children,” says Winters, owner of a Screenmobile franchise in Charlotte, North Carolina. “If you don’t support the team, what’s the point?” Winters has