Sectors News Results

  • U.S. Orders for Long-Lasting Goods Gained in June

    Orders for long-lasting U.S. factory goods rose in June as the economy continued its climb back from disruptions related to the coronavirus pandemic, though a summer surge in virus infections could dampen future gains. New orders for durable goods-- products designed to last at least three years-- increased a seasonally adjusted 7.3% in June from the previous month, the second consecutive monthly gain, the Commerce Department said Monday. Economists surveyed by The Wall Street...

  • Durable Goods Orders Rise in June

    Orders for long-lasting factory goods rose in June as the economy continued its climb back from disruptions related to the coronavirus pandemic. Here are key takeaways from the report:. --New orders for durable goods--products designed to last at least three years--increased 7.3% in June from the previous month, the second consecutive monthly gain.

  • United Airlines, Pfizer, Spotify Technology: Stocks That Defined the Week

    Stormy skies lie ahead for airlines. United Airlines on Tuesday said it would trim more flying this quarter in response to stalling demand while cost-cutting efforts will reduce how much cash it burns moving into the fall as Covid- 19 cases surge in many parts of the country. In the spring, United cut more flights than rivals such as Delta Air Lines Inc. and American Airlines Group Inc. as the pandemic sapped travel demand.

  • China Oil Majors Agree to Sell Assets in $55 Billion Deals Amid Energy Sector Reforms -- Update

    Two of China's energy giants have agreed to sell some of their assets in cash and share deals worth around $55 billion to a newly-created state juggernaut that China hopes will reform and unify its national energy-transmission network. PetroChina Co. (PTR) and China Petroleum& Chemical Corp., better known as Sinopec, have agreed to sell certain pipeline assets to China Oil& Gas Pipeline Network Corp., a state-owned firm founded late last year. Beijing has been floating plans to...

  • Tech Giants Aim to Solve West Coast Housing Shortage

    New investments from Alphabet Inc.' s Google (GOOG) and from Apple Inc. (AAPL) offer the first detailed look at how the big technology companies are following through on their pledges to help ease the West Coast's shortage of affordable housing. Major tech corporations have invested hundreds of millions of dollars in the past year to increase the supply of affordable housing in their backyards, after years of criticism that the booming tech sector was partly to blame for housing shortages...

  • French Manufacturing Sector Sentiment Continues Recovery in July

    Sentiment in the French manufacturing sector continued its recovery for the third consecutive month in July, following a historic 30- point decline in April due to the coronavirus crisis. Figures from the French national statistics agency Insee's monthly survey on Thursday showed manufacturing sentiment rose to 82 in July compared with a revised 78 in June, below the long-term average of 100.. The outcome is below economists' consensus forecast of 83 points in a survey...

  • Chinese Tech Stocks Rally After Release of Hang Seng Tech Index, Ant IPO Plans

    Chinese technology stocks were sharply higher in Tuesday's morning trade, partly boosted by the launch of a new technology index on the Hong Kong stock exchange and listing plans for Ant Group, Alibaba's (BABA) financial arm. At the mid-day break, Alibaba Holdings was up 6.6% while Alibaba Health Information Technology Ltd. surged 9.1%. Ant Group's proposed listing, one of the most keenly-anticipated offerings in recent years, should boost sentiment for companies across the Alibaba...

  • U.S. Housing Starts Surged in June

    Construction of new homes in the U.S. increased sharply in June as the country continued to reopen, data from the Commerce Department showed Friday. Here are the main takeaways from the report:. --Housing starts, a measure of U.S. homebuilding, rose by 17.3% in June compared with May, to a seasonally adjusted annual rate of 1.186 million.

  • U.S. Retail Sales Rose 7.5% in June as Stores Reopened -- 3rd Update

    U.S. consumers boosted spending at stores and auto dealerships in June for the second straight month as states reopened for business, but the recent increase in coronavirus cases could again damp job growth and retail spending. The Commerce Department on Thursday said June retail sales-- a measure of purchases at stores, at restaurants and online-- increased a seasonally adjusted 7.5% on the month. Retail sales totaled $524.3 billion in June, up from $487.7 billion in May and nearly...

  • U.S. Retail Sales Rose 7.5% in June as Stores Reopened -- 2nd Update

    U.S. retail sales rose for the second straight month in June as malls and restaurants reopened and consumers bought big-ticket items, but a recent increase in coronavirus cases could again damp spending. The Commerce Department on Thursday said retail sales-- a measure of purchases at stores, at restaurants and online-- increased a seasonally adjusted 7.5% on the month. Retail sales totaled $524.3 billion in June, up from $487.7 billion in May and nearly back to pre-pandemic levels.

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