U.S. stocks climbed on Friday and the main indexes were set for weekly gains after Goldman Sachs capped a strong earnings season for big banks, while a surprise rise in retail sales raised optimism about economic recovery. Goldman Sachs gained 2.7 percent as a record wave of dealmaking activity drove a surge in the bank’s…
Wall Street Tracks Weekly Gains on Strong Banks Earnings, Retail Sales Data
October 15, 2021
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Domino’s US Same-Store Sales Fall for First Time in a Decade as Demand Slows
Domino’s Pizza Inc. posted on Thursday its first drop in U.S. same-store sales in over a decade, signaling a slowdown in delivery demand for the world’s largest pizza chain as consumers move away from their pandemic food-ordering habits. As COVID-19 curbs ease, Americans, who spent the last year ordering in, have started to eat out…
Nestle Revamps Geographic Structure, Makes New Board Appointments
ZURICH—Nestle is overhauling its geographic structure, the world’s largest food company said on Wednesday, creating new zones for North America and for Greater China. The maker of Nescafe instant coffee and KitKat chocolate bars also said it was changing its executive board to align with the new structure, which takes effect from January. Company veteran…
Luxury Giant LVMH’s Third-Quarter Sales up by 20 Percent
PARIS—Sales at French luxury group LVMH’s fashion and leather goods division rose strongly in the third quarter even though overall revenue growth in Asia and the United States eased from their stellar first-half performance. LVMH, whose luxury products span Moët & Chandon champagne and Bulgari timepieces, said on Tuesday the popularity of its star labels…
Boeing Delivers 35 Airplanes in September, 787 Dry Spell Continues
SEATTLE—Boeing Co. said on Tuesday that airplane deliveries rose to 35 in September as it benefited from an uptick in domestic travel, but its 787 program remains hobbled by structural defects. That was 13 more planes than in August and 24 more than in September last year. Of the 35 jetliners delivered last month, 26…
Japanese Automakers’ China Car Sales Tumble in September
October 11, 2021
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BEIJING—Japanese automakers Honda Motor Co. Ltd, Nissan Motor Co. Ltd, and Toyota Motor Corp. saw their sales in China tumble in September as a chip shortage hit vehicle production in the world’s biggest car market. Honda said it sold 121,448 vehicles in China last month, down 28 percent from a year earlier due to the…
US Airlines Look for Holiday Boost After Delta Variant Interrupts Recovery
BOSTON—U.S. airlines are looking at the upcoming holiday season and the reopening of vital trans-Atlantic routes to recover the momentum lost in the last quarter following a resurgence in COVID-19 cases. After a strong summer travel season, air carriers had to temper their outlook last month for the quarter through September as the fast-spreading Delta…
Oil Extends Losses as US Mulls Strategic Reserve Sales
October 7, 2021
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LONDON—Oil prices fell sharply on Thursday, extending losses from the previous session, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market. Brent crude prices fell $1.24, or 1.5 percent, to $79.84 a barrel by 0918 GMT, after…
Airbus Sees Jet Demand Conquering Suppliers’ Output Fears
BOSTON—Airbus is sticking to its quest for record jet output after airlines reported glimmers of a post-pandemic recovery this week, and believes engine makers who have questioned its most ambitious proposals will be “unable to resist” demand. Airbus has said it hopes to almost double jet production in a few years as borders reopen. Engine…
Delta Air’s Ticket Sales Improve, Reinstates Initial Q3 Revenue View
BOSTON―Delta Air Lines said on Sunday that its ticket sales had stabilized and started to improve, putting it on course to deliver third-quarter revenue within its original forecast for a 30 percent-35 percent drop versus corresponding 2019 levels. This is an improvement from its projection last month when it adjusted the forecast to the lower…
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