India on Wednesday relaxed its rules for setting up fuel stations in the country after a gap of 17 years, opening to non-energy companies a sector long eyed by global oil majors. India, where fuel demand is expected to rise in coming years, has become a lucrative market after the government removed controls on retail pricing of gasoline and gasoil.
Swedish auto technology group Veoneer (VNE) cut its full-year sales forecast on Wednesday and remained downbeat about global car production, but a smaller-than-expected third-quarter operating loss supported the company's shares. A deep slump in auto production has hit Veoneer (VNE) and the wider automotive industry hard, forcing the company to raise capital earlier this year to shore up its balance sheet.
* Texas Instruments' (TXN) warning hits chipmakers. * Lawmakers reject PM Johnson's Brexit timetable. * Mining stocks up on Norsk Hydro (NHYKF) earnings. * Auto stocks gain on PSA earnings. By Lisa Pauline Mattackal and Agamoni Ghosh.
Canadian oil and gas producer Husky Energy Inc (HUSKF) laid off a number of employees on Tuesday, a company spokeswoman said, the latest sign of how Canada's energy sector is struggling with declining capital investment and sluggish growth. Calgary, Alberta-based Husky declined to say how many jobs were affected by the cuts.
Canada's main stock index rose on Tuesday as investors cheered the re-election of a Liberal government under Prime Minister Justin Trudeau, but concerns over a minority government's ability to build new oil pipelines pulled energy shares lower.
SoftBank Corp: * TBCASOFT, IBM AND SoftBank Corp. ANNOUNCE PLANS TO TRANSFORM TELECOMMUNICATIONS INDUSTRY WITH CROSS-CARRIER BLOCKCHAIN SOLUTIONS. * SoftBank Corp - TERMS AND DETAILS OF DEFINITIVE AGREEMENT WILL BE FINALIZED IN COMING MONTHS Source text for Eikon: Further company coverage:
Homebuilder PulteGroup Inc raised its full-year forecast for home sales on Tuesday, after it posted a better-than-expected quarterly profit as lower mortgage rates boosted demand. The housing market has perked up in recent months after the Federal Reserve's interest rate cuts pushed down mortgage rates from last year's multi-year highs.
Canada's energy industry saw its worst-case election result materialize on Monday as the Liberals failed to secure a majority government, leaving them in need of support from left-leaning parties that are opposed to new oil pipelines. Liberal Prime Minister Justin Trudeau won enough seats to form a minority government but fell short of an overall majority.
The Canadian dollar held near a three-month high on Tuesday as the market took in stride the prospect of a re-elected Liberal government, although some investors worried about the Liberals' need to rely on a left-leaning opposition party for support.
NVIDIA Corp (NVDA): * RED HAT AND NVIDIA TEAM TO BRING HIGH-PERFORMANCE, SOFTWARE-DEFINED 5G RAN TO TELECOM INDUSTRY Source text for Eikon: Further company coverage:
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