Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday afternoon as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
slide@ (Adds details from filing)
March 18 (Reuters) - Cosmetics maker Revlon Inc said on Monday it had identified a "material weakness" in its financial reporting related to the implementation of its SAP enterprise resource planning system in the United States, sending its shares down over 10 percent in extended trading.
Revlon does not expect any changes to its previously reported preliminary financial results, including fourth-quarter results, it said in a filing.
Enterprise resource planning, or ERP, systems are back-end technology that companies use to automate or help implement everything from inventory management to customer services.
Revlon said it expects to disclose material weakness in its internal control over financial reporting as of year-end 2018, in a delayed annual regulatory filing.
In the fourth quarter, Revlon's net sales dropped nearly 6 percent due to lower demand for its namesake cosmetics brand and the expiration of some of its fragrance brand licenses.
Expenses of $54 million related to fixing an ERP disruption at Revlon's Oxford, North Carolina manufacturing facility added to the company's woes in the quarter. (Reporting by Uday Sampath in Bengaluru; editing by Shailesh Kuber and James Dalgleish)