Bhinneka News Online: Reuters Before the Bell: Boeing takes $4.9 billion charge for prolonged grounding of 737 MAX planes

Friday, 19 July 2019

Reuters Before the Bell: Boeing takes $4.9 billion charge for prolonged grounding of 737 MAX planes

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Friday, July 19, 2019

Boeing takes $4.9 billion charge for prolonged grounding of 737 MAX planes

Boeing Co said on Thursday it would take an after-tax charge of $4.9 billion in the second quarter on estimated disruptions from the prolonged grounding of its lucrative 737 MAX passenger jets after two deadly crashes.

BlackRock's profit hit by lower fees for lending stocks

BlackRock Inc , the world's largest asset manager, took in less cash last quarter as investors moved into lower-cost bond funds, and it made less money lending out stocks.

GM's mid-engine Corvettes roar onstage to take on Europeans

General Motors Co unveiled on Thursday its newly designed mid-engine 2020 Corvette in a splashy tribute to its emblematic sports car, even as the No. 1 U.S. automaker faces mounting pressures in a sluggish and uncertain global sales environment.

Microsoft brightens Wall St. mood as rate cut hopes rise

U.S. stock futures inched higher on Friday as strong results for Microsoft's cloud business fed into a bullish mood following signs from New York Fed President John Williams that the U.S. central bank was set to cut interest rates this month.

U.S.-China officials discuss trade; Mnuchin eyes possible in-person talks

U.S. and Chinese officials spoke by telephone on Thursday as the world's two largest economies seek to end a year-long trade war, with U.S. Treasury Secretary Steven Mnuchin suggesting in-person talks could follow.

Syngenta profits hit by U.S./China trade wars, bad weather

Agricultural chemical maker Syngenta on Friday reported a 34% fall in first-half net income, showing the impact of U.S. trade disputes with China and Mexico as well as bad weather in some of its markets.

Microsoft shares hit record highs, powered by growing cloud sales

Microsoft Corp on Thursday beat analysts' estimates for fourth-quarter revenue and profit, driven by continued sales increases from its cloud business and sending its shares to all-time highs.

Oil rises after U.S. Navy downs Iranian drone; set for weekly fall

Oil prices rose on Friday as tensions spiked again in the Middle East after the United States said it had destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows.

Exclusive: J.C. Penney taps debt restructuring advisers: sources

J.C. Penney Co Inc has hired advisers to explore debt restructuring options that would buy more time for the money-losing U.S. retailer to forge a turnaround, people familiar with the matter said on Thursday.

BMW picks insider Zipse as CEO to catch up with rivals

BMW has named Oliver Zipse as its new CEO, continuing the German carmaker's tradition of promoting production chiefs to the top job even as the auto industry expands into new areas such as technology and services.