Sectors News Results

  • U.S. Services Sector Expands in October at the Fastest Pace in Five Years -- IHS Markit

    Activity in the U.S. services sector accelerated its expansion pace in October, reaching a more than five-year high, as strong demand conditions drove faster upturn in output, data from IHS Markit showed Wednesday. The final reading for the U.S. Services Purchasing Managers' Index for October was 56.9, up from the 54.6 level registered in September and above the earlier released flash estimate of 56.0.

  • China Services-Sector Gauge Rose at Faster Pace in October

    BEIJING--A private gauge of China's services-sector activity rose at a faster pace in October, signaling a further recovery of business activity at the start of the fourth quarter. The Caixin China services purchasing managers index rose to 56.8 in October from 54.8 in September, Caixin Media Co. and research firm Markit said Wednesday. It was the sixth straight month the index stayed above the 50 mark that separates expansion from contraction.

  • Rising Farm Exports to China Lift Agribusiness, Farmers

    Rising agricultural exports to China are helping revive the fortunes of some agribusiness companies and farmers, after the coronavirus pandemic upended the U.S. farm sector. China's effort to boost pork production, and buy more U.S. grain and meat following this year's U.S.-China trade agreement, are driving a surge of U.S. farm goods across the Pacific in recent months, according to government estimates. Growing demand around the world for food staples like vegetable oil and...

  • China's Factory Recovery Continues as Service Sector Hits Seven-Year High

    A gauge of China's factory activity remained in expansionary territory for an eighth consecutive month while activity in the services-and-construction sector hit a seven-year high, pointing to continued recovery across the world's second-largest economy as it rebounds from the pandemic. China's official manufacturing purchasing managers index, a key gauge of factory activity, slipped slightly to 51.4 in October from 51.5 in the previous month, according to data...

  • Durable-Goods Orders Rise for Fifth Consecutive Month -- Update

    Orders for long-lasting factory goods increased for the fifth consecutive month in September, the latest sign manufacturing companies are rebounding from supply-chain disruptions and shutdowns related to the coronavirus pandemic. New orders for durable goods-- products designed to last at least three years-- rose 1.9% in September compared with August, the Commerce Department said Tuesday. A closely watched proxy for business investment-- new orders for nondefense capital...

  • Durable-Goods Orders Rise for Fifth Consecutive Month in September

    Orders for long-lasting factory goods increased for the fifth consecutive month in September, the latest sign manufacturing companies are recovering from supply-chain disruptions and shutdowns related to the coronavirus pandemic. New orders for durable goods--products designed to last at least three years--rose 1.9% in September compared with August, the Commerce Department said Tuesday. A closely watched proxy for business investment--new orders for nondefense...

  • Caterpillar's Sales Fall as Coronavirus Weighs on Industry

    Slower construction of everything from cruise ships to pipelines during the coronavirus pandemic is weighing on demand for Caterpillar Inc.' s heavy machinery. Caterpillar (CAT) said Tuesday that machinery sales fell 23% in its third quarter as customers held off on big purchases. Revenue fell in Caterpillar's (CAT) three global segments, declining 23% in construction, 21% in mining and 24% in its energy and transportation business.

  • European Parliament Defends Veggie 'Burgers' Against Farmers' Objections

    The European Parliament has voted against a measure that proposed a ban on referring to vegetable-based products with meat-related terms such as' veggie burgers', in a blow to the hopes of the continent's livestock sector. Lawmakers rejected all proposals to reserve meat-related names to products containing meat, the European Parliament's Committee on Agricultural and Rural Development said Friday. The vote was 379 against and 284 votes in favor.

  • Posco 3Q Net Profit Rose 3.5% on Year

    Posco's (PKX) third-quarter net profit rose 3.5% from a year earlier, thanks to strong sales of high-margin steel products backed by a recovery in demand from the auto industry. Net profit for the quarter ended September was 514.00 billion won compared with KRW496.80 billion in the same quarter a year earlier, the South Korean steelmaker said Friday. That beat a FactSet consensus forecast for net profit of KRW289.28 billion.

  • Covid-19 Gives Boost to China's Telemedicine Industry -- Journal Report

    As the Covid-19 pandemic swept across China in late January, the country's telemedicine platforms raced to roll out free coronavirus-related services and the once wary government moved to ease regulations on providers, giving new life to a fledgling industry that has largely been losing money. The effort, involving some of China's largest technology companies, has introduced millions of people to online medicine in what industry analysts say could mark a watershed moment...

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