DETROIT—Honda expects its factories to make more vehicles this year despite a computer chip shortage and supply chain troubles. But because it’s starting the year with so few vehicles at dealers, the company expects U.S. sales to fall below last year’s numbers. The company expects U.S. new vehicle prices to ease a bit from the…
EU Records First Drop in Sparkling Wine Exports in Decade as Champagne Loses Its Fizz
BRUSSELS—The European Union’s exports of sparkling wine to the rest of the world fell last year for the first time in a decade, Eurostat said on Friday, largely because of a massive drop in champagne sales, though prosecco and cava sold well. The COVID-19 pandemic dampened wine trade globally in 2020, the latest year for…
Amazon Among Key Tech Firms to Drop CES Plans on COVID-19 Concern
Amazon Inc., Facebook parent Meta Platforms Inc., Twitter Inc. and Pinterest Inc. will not send teams to the Consumer Electronics Show (CES) in Las Vegas as concerns grow about Omicron, the firms said on Tuesday. CES, which serves as an annual showcase of new trends and gadgets in the technology industry has attracted more than…
Adobe Shares Drop as Q1, FY22 Outlook Trail Estimates
Adobe Inc. FY21 revenue growth of 20 percent year-on-year to $4.11 billion, beating the consensus of $4.09 billion. Revenue for the Digital Media segment was $3.01 billion, up 21 percent Y/Y. Creative revenue grew 19 percent Y/Y to $2.48 billion, while Document Cloud revenue rose 29 percent to $532 million. Digital Experience segment revenue was…
GM Outlook Doesn’t Impress, Sees Chip Shortage Continuing; Shares Drop
October 27, 2021
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DETROIT—General Motors Co. said on Wednesday its quarterly profit was hit by the global semiconductor shortage that it sees continuing until late 2022, and offered a full-year profit forecast that disappointed Wall Street, sending shares down more than 3 percent in premarket trading. The Detroit automaker’s quarterly profit and revenue fell due to a drop…
Dollar Drops as Rate-Hike Bets Profilerate Elsewhere, Yuan Hits 4-Month Peak
October 19, 2021
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LONDON—The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting from greenback weakness and a slight easing in property market concerns. A robust start to the U.S. earnings season and hopes that China will be…
Euro Zone Sentiment Edges up in September, Defies Expectations of Drop
BRUSSELS—Euro zone economic sentiment edged higher in September after a fall in August, boosted by optimism among consumers and in the industry and construction sectors, while inflation expectations continued to rise among manufacturers and consumers alike. The European Commission’s economic sentiment indicator rose to 117.8 in September, from 117.6 in August, after hitting an all-time…
Shares Drop for Third Day, Yields Soar as Markets Brace for Rate Hikes
September 28, 2021
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LONDON—Global shares fell for a third successive day on Tuesday, while bond yields on both sides of the Atlantic soared on anxiety over when central banks might raise interest rates. MSCI’s All Country World Index, which tracks shares across 49 countries, was down 0.3 percent on the day after the start of trading in Europe….
Stocks Drop the Most Since May on Worries Over China, Fed
Stocks on Wall Street closed sharply lower Monday, mirroring losses overseas and handing the S&P 500 index its biggest drop in four months. Worries about debt-engorged Chinese property developers—and the damage they could do to investors worldwide if they default—rippled across markets. Investors are also concerned that the U.S. Federal Reserve could signal this week…
Oil Holds Above $75 as US Inventory Drop Supports
LONDON—Oil slipped but held above $75 a barrel on Thursday, within sight of a near seven-week high hit a day earlier, supported by a big drop in U.S. crude inventories and expectations of recovering global demand. U.S. crude inventories fell by 6.4 million barrels last week, more than analysts expected, as oil facilities offshore were…
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