French carmaker PSA Peugeot Citroën Thursday announced that the Group's financial statements for the year 2013 will include an impairment charge on Automotive Division assets of about 1.1 billion euros, that will reduce consolidated result by the same amount, but will not involve any cash-out. Peugeot also confirmed its talks on the deal with Chinese automaker Dongfeng Motor Corp.
The Swiss National Bank on Thursday decided to maintain the franc ceiling with the exchange staying high and the "vulnerable" external economic situation posing downside risks to Switzerland. In a statement, the SNB said it will maintain the minimum exchange rate of CHF 1.2 per euro. The bank reiterated that it is ready to enforce the franc cap by buying foreign currency in unlimited quantities.
German department stores operator Metro AG (MTAGF.PK, MTTRY.PK) Thursday reported a wider loss for the short financial year 2013 that spanned from January to September 2013, but said it expects a marked improvement in profitability in the new fiscal and sees a slight rise in overall sales. The stock added over 3 percent in morning trade.
European stocks are seen inching lower on Thursday on growing fears that an improving U.S. economy and the removal of some of the fiscal uncertainty could encourage the Federal Reserve to scale back the pace of its ongoing bond-buying program sooner rather than later. Having said that, many expect the...
Men's Wearhouse, Inc. said Wednesday after the markets closed that its third quarter profit fell 22% from last year, hurt mainly by lower tuxedo margin. However, the company's quarterly earnings per share, excluding items, came in above analyst' expectations as did its quarterly revenue. At the same time, the company reaffirmed its full year earnings outlook.
Canadian electric utility Fortis Inc. (FTS.TO) has agreed to buy Arizona-based power company UNS Energy Corp. (UNS) for $4.3 billion including debt, as it expands itself in the US market.
Fortis has agreed to pay $60.25 a share and will also assume about $1.8 billion in debt. The offer price represents...
Dispensing equipment maker Nordson Corp. reported a lower fourth-quarter profit, hurt by weak sales amid tough macro-economic conditions. Quarterly earnings missed Wall Street estimates, while sales came in above expectations.
Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest losses posted in the previous session. The continued pullback came as traders expressed renewed concerns about the outlook for the Federal Reserve's stimulus program. The major averages crept up off their worst levels going into the close but still ended the day firmly in the red.
Well-publicized problems with the rollout of Obamacare seem to have taken their toll on Americans' opinions of the Democratic Party, according to the results of a Gallup poll released on Wednesday.
U.S. crude oil dropped sharply to end lower Wednesday, after the official Energy Information Administration's weekly report showed a significant, more-than-expected jump in U.S. gasoline stockpile last week, notwithstanding a massive drop in crude oil inventories.
Latest data from the Energy Information...
Gold futures snapped a two-day gain to end lower on Wednesday, after U.S. lawmakers struck a budget deal to avert a government shutdown next month. The precious metal climbed down from a three-week high with a two-percent surge yesterday, impacted by declining global equity markets and a sharp drop in...
Spotify on Wednesday unveiled a new ad-based service that will permit mobile users to access to its 20 million song catalog for free. Mobile streaming was previously only available for premium subscribers paying a $10 per month fee.
"Today we're giving people the best free music experience in the...
Stocks have moved steadily lower over the course of the trading day on Wednesday, adding to the modest losses posted in the previous session. Lingering concerns about the outlook for the Federal Reserve's stimulus program are weighing on the markets. The major averages have seen some further downside in recent trading, hitting new lows for the session.
Amid continued public dissatisfaction with the rollout of Obamacare, the Department of Health and Human Services sought to highlight a jump in enrollment in the health insurance exchanges in the month of November. An HHS report released on Wednesday showed that November saw more than a quarter million enrollees in state and federal marketplaces.
After initially showing a lack of direction, stocks have come under pressure in early trading on Wednesday. The major averages have slid firmly into negative territory, adding to the slim losses posted in the previous session.