Business

Johnson & Johnson 2019 revenue forecast misses expectations

2019-01-22 06:11:03 A Johnson & Johnson building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake (Reuters) - Johnson & Johnson on Tuesday forecast 2019 sales that fell short of analysts’ estimates after reporting better-than- expected fourth-quarter profit and revenue. The company said it expects 2019 sales in the range of $80.4 billion to $81.2 billion, compared with the average analyst estimate of $82.69 billion, according to IBES
Business

Johnson & Johnson quarterly sales beat expectations

2019-01-22 05:55:52 A Johnson & Johnson building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake (Reuters) - Johnson & Johnson reported better-than-expected fourth-quarter revenue on Tuesday, helped by strong demand for its drugs to treat cancer and psoriasis. Overall sales rose to $20.39 billion from $20.20 billion, above the average Wall Street estimate of $20.20 billion, according to IBES data from Refinitiv. The company posted net profit
Business

UBS CEO says succession ‘years away’

2019-01-22 05:26:56 FILE PHOTO - Sergio Ermotti, CEO of UBS gestures during a panel discussion at the Swiss-American Chamber of Commerce in Zurich, Switzerland January 18, 2019. REUTERS/Arnd WIegmannZURICH (Reuters) - UBS (UBSG.S) Chief Executive Sergio Ermotti said on Tuesday any changes to the bank’s leadership remain years away and that the bank remains open to both hiring and promoting in its search for talent. “I am not immortal, therefore
Business

‘Fill or kill’: the three weeks that saved Sears

2019-01-22 05:03:55 NEW YORK (Reuters) - The future of Sears Holdings Corp (SHLDQ.PK) and tens of thousands of its employees across the United States hung in the balance in the freezing pre dawn hours last Wednesday, as Wall Street lawyers and bankers sparred over the fate of the beleaguered retailer in a 50-story Manhattan office tower. FILE PHOTO: A dismantled sign sits leaning outside a Sears department store one day
Business

China’s growth slowed by service, farm sectors, despite construction rebound

2019-01-22 04:52:43 BEIJING (Reuters) - Weakness in the service and farm sectors slowed China’s economic growth in the fourth quarter, despite a strong pickup in construction activity, official data showed on Tuesday. FILE PHOTO: Workers are seen on scaffolding at a construction site in Nantong, Jiangsu province, China January 1, 2019. REUTERS/Stringer Services grew 7.4 percent from a year earlier, slowing from 7.9 percent in the third quarter, while growth
Business

Exclusive: Tesla holds battery supply talks with China’s Lishen

2019-01-22 04:36:11 BEIJING (Reuters) - U.S. electric vehicle (EV) maker Tesla Inc (TSLA.O) has held talks with China’s Tianjin Lishen to supply batteries for its new Shanghai factory, and two people with direct knowledge of the matter said the pair signed a preliminary agreement. FILE PHOTO: Visitors are seen at the booth of Lishen Battery at a new energy expo in Beijing, China March 22, 2009. REUTERS/Stringer The companies have
Business

Oil drops more than 1 percent as China slowdown bites

2019-01-22 04:14:24 LONDON (Reuters) - Oil prices fell more than 1 percent on Tuesday on signs that an economic slowdown in China was spreading, stoking concerns about global growth and fuel demand. An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File PhotoThe gloomy news from the world’s second-largest economy and top importer of oil pulled down financial
Business

IMF pessimism + trade tensions = sickly stocks

2019-01-22 04:02:44 LONDON (Reuters) - Pessimism about global growth drove down world shares and commodity markets on Tuesday and left investors seeking refuge in the dollar, government bonds and gold. People check their mobile phones as they stand outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter NichollsThe International Monetary Fund’s warning of a darkening outlook on Monday, after China’s confirmed its slowest growth
Business

Exclusive: Tesla says it received battery quotes from China’s Lishen but no deal signed

2019-01-22 03:38:30 BEIJING (Reuters) - Tesla Inc (TSLA.O) said on Tuesday it had received quotes from Tianjin Lishen to supply batteries for its new Shanghai electric car factory but had not signed any agreement with the Chinese firm. FILE PHOTO: Visitors are seen at the booth of Lishen Battery at a new energy expo in Beijing, China March 22, 2009. REUTERS/Stringer Reuters earlier on Tuesday reported, citing two sources with
Business

Number of people in work in UK hits record high

2019-01-22 03:35:49 Number of people in work in UK reaches record high of 32.5 million, official figures indicateThis breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version.You can receive Breaking News on a smartphone or tablet via the BBC News App. You can also follow @BBCBreaking on Twitter to get the latest alerts.