Struggling German airline Air Berlin filed for insolvency on Tuesday after years of losses caught up with it and shareholder Etihad withdrew funding, with rival Lufthansa saying it was in talks to take over parts of its business. Air Berlin, whose debt piled up after a series of takeovers, has seen speculation over its finances […]
Read moreDick’s Sporting Goods shares plummeted nearly 16 percent after the sporting goods retailer missed Wall Street expectations and lowered its outlook for the year. In the latest quarter, Dick’s said net income rose to $112.4 million, or $1.03 a share, from $91.4 million, or 82 cents a share, a year ago. On an adjusted basis, […]
Read moreCheck out which companies are making headlines before the bell: Home Depot – The home improvement retailer earned $2.25 per share for the second quarter, three cents a share above estimates. Revenue beat forecasts, as well. Comparable-store sales rose 6.3 percent globally, beating the 4.9 percent Thomson Reuters consensus estimate. Home Depot also raised its […]
Read moreCurrency, United States Finance
London's financial district is ‘hemorrhaging talent’ because of Brexit, warns UK job recruiter
The City of London, home to the U.K.’s largest trading and financial services, is suffering from a loss of professional talent due to Brexit, warns a U.K. job recruitment agency. “The City is still haemorrhaging talent because of Brexit, and we risk losing jobs, too,” said Hakan Enver, operations director at recruitment consultancy Morgan McKinley […]
Read more
Markets rebounded on Monday, and one trader believes it’s a sign the bull market will rage on. “We’ve seen volatility on the heels of this escalation in tensions with North Korea, but I think it’s buyable,” said Todd Gordon of TradingAnalysis.com, referring to the dip in the markets seen last week as tensions escalated between […]
Read moreRadio stations in Guam accidentally broadcast an emergency civil danger warning on Tuesday, prompting residents of the U.S. pacific territory to fear the worst after a week of military threats from North Korea. The two radio stations, a music channel and a Christian network, broadcast an emergency message over Guam’s airwaves at around 12.15 a.m. […]
Read moreBitcoin hit another record high on Tuesday, with the continuing rally bringing its market capitalization within touching distance of major stocks like Netflix. The price of the cryptocurrency hit an all-time high of $4,483.55 in early trade on Tuesday, continuing the strong rally seen in the past couple of weeks, according to industry website CoinDesk. […]
Read moreBritish consumer price inflation unexpectedly held steady last month as fuel prices fell amid other signs that the squeeze on households’ spending power may slowly be starting to level off. Official figures on Tuesday showed the pace at which manufacturers’ raw material costs are rising slowed by the most in over five years as the […]
Read moreCurrency, United States Finance
Britain's Brexit minister says UK should not have to pay for temporary customs deal with EU
The U.K. should not have to pay to have a customs union during an interim period after leaving the European Union (EU), Brexit Secretary David Davis said on Tuesday. Britain has proposed a temporary customs union with the EU for at least three years after Brexit in order to allow the “freest and most frictionless […]
Read moreA cybersecurity investigation into three of China’s most popular social media platforms may have nothing to do with alleged illegalities. Instead, President Xi Jinping’s administration may simply be looking to tighten censorship ahead of a major leadership reshuffle later this year. Last Friday, cyberspace regulators said the three platforms — Tencent’s WeChat, Sina’s Weibo and […]
Read more