LONDON, Oct 17- British engineer Rolls-Royce warned on Friday that deteriorating economic conditions meant its profit would not rise next year as previously forecast, sending its shares plunging as much as 16 percent. Wherever you look there were signs of economic slowdown such as the fall in oil and iron ore prices, an absence of growth in Europe and a slowdown...» Read More
*Demand for OPEC crude oil down by 200,000 bpd. *Saudi Arabia, Kuwait play down OPEC output cut possibility. The International Energy Agency said on Tuesday world oil demand growth would be much weaker than previously expected and raised questions about OPEC's willingness to rein in supplies, suggesting oil prices may drop further.
*Demand for OPEC crude oil down by 200,000 bpd. *Saudi Arabia, Kuwait play down OPEC output cut possibility. Brent crude dropped $1.15 to $87.74, level with its intraday low on Monday which was its weakest point since December 2010, before recovering slightly to around $87.85 by 0910 GMT.
Analysts at Barclays slashed their full-year pretax profit forecast by 60 percent to 4 million pounds. "Moving the brand to higher pricing points had clearly taken its toll on sales with the group responding by reverting back to its roots," the Barclays analysts said in a note, adding they expected new bag launches to help the firm's second-half trade.
J.C. Penney's shares were down 11.8 percent at $8.10 in afternoon trading on the New York Stock Exchange on Wednesday. At its analyst day in New York, J.C. Penney Chief Executive Myron Ullman outlined plans to generate incremental sales of $2 billion between 2015 and 2017, by revamping high traffic areas of its stores. J.C. Penney, which carries an exclusive...
Oct 13- U.S. auto retailer Lithia Motors Inc cut its third-quarter profit forecast, hurt by lower margins and higher selling costs for used vehicles. Lithia shares fell 4.8 percent in premarket trading. The company said it now expects adjusted earnings from continuing operations of $1.30- $1.32 per share for the quarter ended Sept. 30, compared with its prior...
J.C. Penney's shares were down 11.8 percent at $8.10 in afternoon trading on the New York Stock Exchange on Wednesday. At its analyst day in New York, J.C. Penney Chief Executive Myron Ullman outlined plans to generate incremental sales of $2 billion between 2015 and 2017, by revamping high traffic areas of its stores. J.C. Penney, which is the only U.S. department...
Oct 8- Struggling retailer J.C. Penney Co Inc cut its current-quarter same-store sales forecast, citing lower sales in September, sending its shares down sharply. The department store chain said it expected low-single digit percentage growth in same-store sales in the third quarter. J.C. Penney's shares were down 10.6 percent at $8.22 in early afternoon...
*Palladium posts biggest growth in over 6 months. NEW YORK/ LONDON, Oct 7- Gold rose on Tuesday as its safe-haven appeal increased after the International Monetary Fund cut its global economic growth forecasts and weak German industrial data stoked further growth concerns. "Following yesterday's rally, traders are in a wait-and-see attitude now after the IMF...
DULUTH, Ga.— Agricultural equipment maker Agco is cutting its third-quarter and full-year earnings forecasts, sayings its results are expected to be hurt by weaker sales in all regions, lower production and foreign currency translation. Agco now foresees third-quarter earnings between 60 cents and 65 cents per share. For the full year, Agco now expects...
WORLD BANK CUTS 2014 CHINA GROWTH FORECAST TO 7.4 PCT FROM 7.6 PCT PREVIOUSLY, 2015 FORECAST TO 7.2 PCT FROM 7.5 PCT.
WORLD BANK CUTS 2014 AND 2015 DEVELOPING EAST ASIA AND PACIFIC GROWTH FORECASTS TO 6.9 PCT FROM 7.1 PCT FOR BOTH YEARS.
*VW doubts return to pre-crisis sales in Europe. *Ford says momentum in Europe has flattened a bit. Other executives shared his caution, particularly over Europe where a six-year sales slump has left demand around 20 percent below pre-crisis levels and sluggish economies have put a question mark over whether the gap will close anytime soon.
Oct 2- Electrocomponents Plc, a British distributor of electronic products for engineers, said it expects to report a smaller first-half operating profit, hurt by fewer trading days and adverse currency movements. Electrocomponents' shares fell as much as much as 5 percent to 208 pence on Thursday morning, taking the stock to its lowest in more than two years.
LONDON, Oct 1- Britain's J Sainsbury cut its full-year sales forecast and said it would assess its dividend policy as part of a strategic review after second-quarter sales fell sharply, adding to the turmoil in the grocery market.
LONDON, Oct 1- Britain's J Sainsbury cut its full-year sales forecast on Wednesday after trading fell sharply in the second quarter, dragged down by intense competition in a UK grocery market growing at its slowest pace for more than 20 years.
LONDON, Oct 1- Britain's J Sainsbury cut its full-year sales forecast on Wednesday after trading fell sharply in the second quarter, dragged down by competition in a UK grocery market growing at its slowest pace for more than 20 years.
TOKYO, Sept 30- Japanese stocks fell to a one-week low on Tuesday as a one-two punch of weak economic data and a profit warning from Sumitomo Corp knocked out sentiment- but for the month the Nikkei posted its biggest gain since last November.
*Economic data, Hong Kong unrest weigh. TOKYO, Sept 30- Japanese stocks fell on Tuesday morning as a one-two punch of weak economic data and a profit warning from Sumitomo Corp depressed sentiment. Investors were already on the back foot before the start of trading as pro-democracy protests in Hong Kong dented risk appetite in global markets.
DEARBORN, Sept 29- Ford Motor Co has lowered its expectation for pretax profit this year to $6 billion, from its previous forecast of $7 billion to $8 billion, the automaker's chief financial officer told investors on Monday.
BERLIN, Sept 26- German truckmaker MAN SE has cut the profit forecast for its main division, citing falling truck demand in core European markets and the effects of the Russia- Ukraine crisis. "The problem for MAN is they're overly focused on Europe," said Hanover- based NordLB analyst Frank Schwope, noting falling demand for heavy-duty commercial vehicles.