Bhinneka News Online: P&G posts strong sales, takes $8 billion Gillette writedown

Tuesday 30 July 2019

P&G posts strong sales, takes $8 billion Gillette writedown

Procter & Gamble Co's quarterly revenue and profit beat Wall Street expectations on Tuesday, sending shares up even as the world's No.1 personal goods company took an $8 billion writedown on its Gillette shaving business.

Oil prices up on expectations of Fed rate cut

Oil prices rose for a fourth day on Tuesday on optimism the U.S. Federal Reserve will this week cut interest rates for the first time in more than 10 years, boosting demand expectations in the world's biggest oil user.

Mylan reaches $30 million settlement in SEC's EpiPen probe

Mylan NV has reached a tentative agreement to pay $30 million to resolve a probe by the U.S. Securities and Exchange Commission related to its emergency allergy shot EpiPen, which became the center of a firestorm over price increases.

Cancer drug Keytruda, vaccines propel Merck to quarterly profit beat

Merck & Co Inc reported higher-than-expected second-quarter profit and revenue and raised its full-year earnings forecast on Tuesday, powered by strong demand for its blockbuster cancer immunotherapy Keytruda and vaccine sales.

Moderate U.S. consumer spending, inflation support rate cut

U.S. consumer spending and prices rose moderately in June, pointing to slower economic growth and benign inflation that could see the Federal Reserve cutting interest rates on Wednesday for the first time in a decade.

U.S. pending home sales increase more than expected in June

Contracts to buy previously owned homes rose more than expected in June, the National Association of Realtors said on Tuesday in a report that showed lower mortgage rates could be giving support to the housing market.

Capital One shares drop on questions over hack

Capital One Financial Corp shares fell as much as 5.8% on Tuesday as investors worried about its management of customer data after the credit-card issuer said information for 106 million people had been compromised.

Wall Street drops as trade tensions weigh, Fed meeting looms

U.S. stocks dropped on Tuesday as U.S.-China trade worries pressured technology shares, while the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into optimism that drove markets to record highs last week.

Capital One says information of over 100 million individuals in U.S., Canada hacked

Capital One Financial Corp said on Monday that personal information including names and addresses of about 100 million individuals in the United States and 6 million people in Canada were obtained by a hacker who has been arrested.

Trump says will work on a trade deal with Brazil

U.S. President Donald Trump on Tuesday said his administration will pursue a trade agreement with Brazil, opening the door to a possible resolution over an earlier trade dispute between the two nations.

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