Market News

  1. Oil fell more than 1.5% a barrel on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week's hurricane in the region.
  2. Global shares slipped on Thursday on growing signs that a trade dispute between the United States and China was taking a toll on corporate earnings, with nerves spreading from Wall Street through Asia to European markets.
  3. The U.S. Justice Department would sue to block the merger of T-Mobile US Inc and Sprint Corp if the parties do not settle next week, CNBC reported on Thursday, citing sources.
  4. Boutique investment bank Evercore Partners has lost the chance to retain a prime position as an independent advisor for Saudi Aramco's potential $100 billion share sale, as the oil giant revives its postponed listing, three sources said.
  5. U.S. stock indexes edged lower on Thursday as investors awaited more developments around trade, while Netflix posted a surprise drop in U.S. subscribers, kicking off earnings for the FAANG group of stocks on a sour note.
  6. Airbus is close to a deal worth billions of dollars to sell dozens of A320neo-family and smaller A220 aircraft to Air France as the French network carries out a keenly awaited renewal of its medium-haul fleet, industry sources said.
  7. Morgan Stanley reported a drop in quarterly profit but beat analysts' expectations on gains in its wealth-management business and lower expenses.
  8. Banning pornography from Tumblr was not necessarily meant to define Verizon Media's strategy to turn around a collection of Internet has-beens. But that is how it has played out.
  9. Southwest Airlines Co joined U.S. rivals on Thursday in cancelling more flights until early November due to the continued grounding of Boeing Co's 737 MAX, which has also prompted the low-cost carrier to freeze new pilot hiring.
  10. Wall Street brokerages stuck to a positive outlook on Netflix Inc on Thursday, betting that a strong content slate for the rest of 2019 would reverse shock losses in U.S. subscribers in the second quarter that sank its stock price.
  11. Volvo plans to cut fixed costs by 2 billion Swedish crowns ($214 million), it said on Thursday, becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-U.S. trade war were denting profitability.
  12. Brussels gave its blessing to Vodafone's $22 billion purchase of Liberty Global's cable networks in Germany and central Europe, clearing the way for the British company to become Europe's largest mobile, broadband and TV provider.
  13. British online fashion retailer ASOS warned on profits for the third time since December, saying problems ramping up warehouses in the United States and Germany had restricted product availability, hitting sales and raising costs.
  14. Carrie Gray points to a stack of unwelcome mail on a conference table at the offices of Renegade RV, one of the leading U.S. manufacturers of high-end recreational vehicles. She’s buried in bad news from most of her about 350 suppliers.
  15. Qualcomm , the world's no.1 chipmaker, was fined 242 million euros ($272 million) by the European Commission on Thursday for blocking a rival from the market about a decade ago, its second EU antitrust penalty.
  16. Booming stock markets around the globe helped Goldman Sachs Group Inc offset declines in other businesses last quarter, but those gains may not be sustainable, analysts said.