Thursday 24 October 2019

Tesla overtakes GM as most valuable U.S. automaker, short sellers burned

Tesla overtakes GM as most valuable U.S. automaker, short sellers burned

Tesla Inc shares soared 17% on Thursday after the electric carmaker surprised Wall Street by delivering on Chief Executive Officer Elon Musk's promise of a profit in the third quarter, even as doubts remained about its long-term prospects.

CVS pulls out some J&J baby powder from stores

Pharmacy retailer CVS Health Corp said on Thursday it is pulling out 22 ounce bottles of Johnson & Johnson's baby powder from its stores and online as a precautionary measure.

Ex-Deutsche Bank traders avoid prison time for Libor scheme

Two former Deutsche Bank AG traders will serve no prison time for conspiring to manipulate the Libor benchmark interest rate between 2005 and 2011, a federal judge ruled on Thursday, sharply criticizing U.S. prosecutors for treating the two men as "proxy wrongdoers" for a much larger scheme.

American, Southwest overcome 737 MAX travails with quarterly profit growth

American Airlines Group Inc and Southwest Airlines Co posted quarterly profit increases on Thursday thanks to strong U.S. travel demand even as the two carriers pointed to a rising cost impact from the continued grounding of the Boeing 737 MAX.

S&P 500 edges higher on mix of earnings reports, tech shines

The benchmark S&P 500 edged higher on Thursday as strong results from Microsoft Corp and PayPal Holdings Inc offset dour results from 3M Co and Twitter Inc .

Sterling pares losses after PM calls for election; S&P 500 up

The pound pared losses against the dollar on Thursday in the wake of British Prime Minister Boris Johnson's call for a Dec. 12 election to break the country's deadlock over its exit from the European Union, while global stock markets edged up.

Exxon loses bid to delay climate change lawsuit by Massachusetts

A Massachusetts judge on Thursday gave the state's attorney general the greenlight to sue Exxon Mobil Corp "ASAP" over allegations it concealed from investors and consumers its knowledge of the role fossil fuels play in climate change.

Democratic senator asks whether Trump interfered with court case on Turkey's Halkbank

A top Democratic senator on Thursday questioned whether President Donald Trump interfered with a criminal investigation of Turkey's Halkbank, which has been accused of conspiring to evade U.S. sanctions against Iran.

Micron launches new hard drives to challenge Intel in data centers

Idaho-based memory chipmaker Micron Technology on Thursday challenged rival Intel Corp with a new line of hard drives aimed at data centers, just as the two companies are on the cusp of formally ending a joint venture of more than a decade that developed the technology.

Gucci, Moncler post solid growth despite Hong Kong turmoil

Kering's Gucci brand and Italian jacket maker Moncler joined other luxury labels on Thursday in easing fears of a major third quarter sales hit from protests in Hong Kong, as they benefited from brisk business across the rest of Asia.

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