Wall Street posts modest gain as Fed signals rates to hold for some time

Wall Street posts modest gain as Fed signals rates to hold for some time
(Reuters) – Wall Street’s main stock indexes ended modestly higher on Wednesday after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., December 21, 2016. REUTERS/Andrew Kelly/File Photo The U.S.... Read More

American Eagle holiday-quarter forecast below estimates on higher markdowns

American Eagle holiday-quarter forecast below estimates on higher markdowns
An Omani man passes in front of an American fashion brand, American Eagle Outfitters in City Center Mall in Muscat, Oman, February 11, 2019. REUTERS/Hamad I Mohammed (Reuters) – American Eagle Outfitters Inc (AEO.N) forecast holiday-quarter profit and comparable sales below market estimates on Wednesday, as weaker demand pressures the retailer into offering higher discounts on its flagship AE brand,... Read More

American Eagle holiday-quarter earnings forecast below estimates on higher markdowns

American Eagle holiday-quarter earnings forecast below estimates on higher markdowns
An Omani man passes in front of an American fashion brand, American Eagle Outfitters in City Center Mall in Muscat, Oman, February 11, 2019. REUTERS/Hamad I Mohammed (Reuters) – American Eagle Outfitters Inc (AEO.N) forecast holiday-quarter earnings below Wall Street estimates on Wednesday, as weaker demand for its flagship AE brand forced the retailer to sell merchandise at higher discounts,... Read More

‘Vindication’ – Saudi Arabia hails 10% debut jump in Aramco shares

‘Vindication’ – Saudi Arabia hails 10% debut jump in Aramco shares
RIYADH/DUBAI (Reuters) – Saudi Aramco (2222.SE) shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, in a move hailed by the government as a vindication of its towering $2 trillion valuation of the state oil company. Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO)... Read More

Massachusetts hand-dryer maker gets helping hand from U.S.-China trade war

Massachusetts hand-dryer maker gets helping hand from U.S.-China trade war
EAST LONGMEADOW, Mass. (Reuters) – The U.S.-China trade war is creating something William Gagnon once thought impossible – a 100% American-made bathroom hand dryer. Excel Dryer vice president of marketing and key accounts, Bill Gagnon, works at the factory in East Longmeadow, Massachusetts, U.S., October 25, 2019. REUTERS/Tim Aeppel Gagnon’s family-owned company, Excel Dryer Inc, sells about $40 million worth... Read More

Focus squarely on Trump as Dec 15 tariffs loom in US-China trade war

Focus squarely on Trump as Dec 15 tariffs loom in US-China trade war
WASHINGTON (Reuters) – U.S. President Donald Trump has days to decide whether to impose tariffs on nearly $160 billion in Chinese consumer goods just weeks before Christmas, a move that could be unwelcome in both the United States and China. FILE PHOTO: Customers shop during Black Friday sales at a Target store in Chicago, Illinois, U.S. November 29, 2019. REUTERS/Joshua... Read More

How Uber drains carmaker profits in Latin America’s biggest market

How Uber drains carmaker profits in Latin America’s biggest market
SAO PAULO (Reuters) – Like many Uber (UBER.N) drivers in Sao Paulo, the ride-hailing app’s busiest city in the world, Augusto Caio Pereira does not actually own or lease the car he nudges through the city’s notorious traffic jams every day. FILE PHOTO: The Logo of taxi company Uber is seen on the roof of a private hire taxi in... Read More

Boost for Saudi Arabia as Aramco shares surge 10% on debut

Boost for Saudi Arabia as Aramco shares surge 10% on debut
RIYADH/DUBAI (Reuters) – Saudi Aramco (2222.SE) shares surged the maximum permitted 10% above their initial public offering (IPO) price on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman. Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the... Read More

Focus squarely on Trump as December 15 tariffs loom in U.S.-China trade war

Focus squarely on Trump as December 15 tariffs loom in U.S.-China trade war
WASHINGTON (Reuters) – U.S. President Donald Trump has days to decide whether to impose tariffs on nearly $160 billion in Chinese consumer goods just weeks before Christmas, a move that could be unwelcome in both the United States and China. FILE PHOTO: Customers shop during Black Friday sales at a Target store in Chicago, Illinois, U.S. November 29, 2019. REUTERS/Joshua... Read More

Wall Street slips as tariff deadline closes in

Wall Street slips as tariff deadline closes in
NEW YORK (Reuters) – Wall Street’s main stock indexes ended slightly lower on Tuesday, though not far from record highs, as investors awaited concrete news on whether a new round of U.S. tariffs on Chinese goods would take effect on Dec. 15, a potential turning point in a trade dispute between the world’s two largest economies that has convulsed markets.... Read More