Wall Street fell on Thursday morning on mixed earnings and weak economic data, a day after the Federal Reserve decided to keep interest rates unchanged.
WASHINGTON The number of Americans filing for unemployment benefits rose more than expected last week, but the underlying trend continued to point to sustained labor market strength. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 266,000 for the week ended July 23, the Labor Department said on Thursday. Claims for the prior week were revised to show 1,000 fewer applications received than previously reported.
DETROIT Ford Motor Co reported weaker-than-expected profit in the second quarter, and said its full-year earnings forecast was at risk with U.S. auto sales expected to fall in the second half, sending shares tumbling in premarket trading.
Oracle Corp said it would buy NetSuite Inc in a deal valued at about $9.3 billion to expand into the fast-growing cloud market.
Dow Chemical Co , the No.1 U.S. chemical maker by sales, reported a better-than-expected quarterly profit, driven by growth in its high-margin businesses and cost cutting.
WASHINGTON The Federal Reserve left interest rates unchanged on Wednesday but said near-term risks to the U.S. economic outlook had diminished, opening the door to a resumption of monetary policy tightening this year.
LONDON Royal Dutch Shell missed quarterly profit expectations by more than $1 billion on Thursday after reporting a 72 percent plunge in earnings due to weak oil prices and high costs following its $54 billion takeover of BG Group.
BERLIN Volkswagen this year expects to increase group vehicle sales slightly beyond the 9.93 million cars it delivered in 2015, sales chief Fred Kappler said.
NEW YORK For the oil industry, Yahoo Inc's decision this week to sell its core business to Verizon Communications Inc for $4.8 billion does not matter all that much. Their world already changed a few months ago, when the company said it would jettison its messaging system that has been the norm for oil traders since the late 1990s.
BERLIN German prosecutors on Thursday dropped an appeal against a court ruling that acquitted former Porsche SE chief executive Wendelin Wiedeking of market manipulation during a 2008-9 takeover battle with Volkswagen .
It's a tearful night for some Bernie Sanders supporters at this year's Democratic National Convention, as delegates from all 57 U.S. states and territories cast their votes, ensuring Secretary Hillary Clinton the Democratic presidential nomination.