Business News

Harley-Davidson profit tops estimates as Trump weighs in

(Reuters) - Harley-Davidson Inc surged past expectations for first-quarter profit on Tuesday and drew a change of tack from U.S. President Donald Trump, who vowed to protect the motorcycle maker from European tariffs, driving its shares up 3 percent. Trump had previously criticized Harley for its plans to shift some U.S. production overseas to avoid European Union duties imposed in retaliation for the tariffs the Whi...

23 Apr 1:44 PM 0 Read More...

Lockheed Martin raises 2019 profit forecast, shares jump

(Reuters) - Lockheed Martin Corp reported a better-than-expected 47 percent jump in quarterly profit on Tuesday and raised its annual profit forecast, helped by strong demand for its missiles and fighter jets, sending its shares up more than 5 percent in pre-market trading. U.S. weapons makers have been expected to benefit from stronger global demand for fighter jets and munitions and higher U.S. defense budgets in f...

23 Apr 1:44 PM 0 Read More...

Fast track: Indonesia, Malaysia rail projects may give China more deals

WALLINI, Indonesia (Reuters) - In a rural part of Indonesia’s Java island, two orange-clad workers confer in Mandarin over plans to lay tracks on a stretch of a $6 billion high-speed rail project between the capital Jakarta and the textile hub of Bandung. Both are employees of the state-owned China Railway Engineering Corp (CREC), and have previously worked on a rail project in Uganda, another part of Beijing’s ...

23 Apr 3:39 AM 0 Read More...

ExxonMobil agrees 20-year LNG deal with China's Zhejiang Energy

SINGAPORE (Reuters) - Exxon Mobil Corp said it has signed a 20-year agreement to supply liquefied natural gas (LNG) to China’s Zhejiang Energy, as the U.S. oil and gas giant steps up marketing of the fuel in China, the world’s second-largest buyer. Under the sales and purchase agreement, Exxon Mobil will supply 1 million tonnes a year of the super-chilled fuel to the provincial government-backed Zhejiang Energy, ...

23 Apr 3:39 AM 0 Read More...

Elon Musk on Tesla's self-driving capabilities

(Reuters) - Tesla Inc revealed its self-driving plans during an investor day on Monday, with Chief Executive Elon Musk predicting the launch of an autonomous robotaxi service next year in some U.S. markets. Musk has touted the electric car maker’s self-driving capabilities over the years, highlighting its semi-autonomous Autopilot system. Tesla began offering a feature described as “Full Self-Driving Capability...

23 Apr 3:39 AM 0 Read More...

Samsung delays Galaxy Fold phone launch over screen problems

(Reuters) - Samsung Electronics Co Ltd said on Monday it would delay the retail launch of its Galaxy Fold smartphone for an unspecified period of time after reviewers discovered problems with the display, a hit to the reputation of the world’s largest handset maker. Last week, reviewers started posting problems with the device on Twitter, but as of Friday the company did not know the root cause of the screen defect...

22 Apr 10:34 PM 0 Read More...

Wall Street near flat in quiet session ahead of earnings wave

NEW YORK (Reuters) - U.S. stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings. Investors were waiting for some of the biggest S&P 500 companies, including Boeing Co, Amazon.com Inc and Facebook Inc to report first-quarter results later in the week. Additional reports could ease in...

22 Apr 10:34 PM 0 Read More...

Samsung confirms delay of Galaxy Fold release

(Reuters) - Samsung Electronics Co Ltd confirmed on Monday it would delay the public availability of its Galaxy Fold smartphone after reviewers of the foldable handset reported defective samples. “To fully evaluate this feedback and run further internal tests, we have decided to delay the release of the Galaxy Fold. We plan to announce the release date in the coming weeks,” Samsung said. Reporting by Arjun Pancha...

22 Apr 5:34 PM 0 Read More...

Halliburton sees signs of price recovery, shares dip

(Reuters) - Halliburton Co sought to convince investors on Monday that weak pricing which has undermined oilfield services providers over four years was on the verge of turning a corner. Better-than-expected revenue in North America, along with the company’s claim that prices were bottoming out, initially drove shares in the oilfield services giant almost 5 percent higher after it published first quarter results. ...

22 Apr 5:34 PM 0 Read More...

Halliburton sees surge in global offshore spending in 2019

(Reuters) - Oilfield service provider Halliburton Co said on Monday it expects international offshore spending to rise 14 percent in 2019, double the estimates given by sector leader Schlumberger NV for international markets overall. Schlumberger said last week that investments by oil producers in international markets will increase by 7 percent to 8 percent this year, citing a 20 percent increase last quarter in off...

22 Apr 5:34 PM 0 Read More...