Canada’s residential construction activity has slowed in recent months due to a tight labor market and higher borrowing costs, a factor that could thwart the government’s plans to reduce a housing shortfall and add to the recovery in home prices.
Salesforce Inc fell 5% on Thursday after reporting quarterly revenue that increased at its slowest pace since 2010, with companies cutting back spending on cloud-based software offerings.
Macy’s Inc on Thursday cut full-year sales and profit forecasts, hurt by a slowdown in demand for high-end products and increased discounts due to persistently high inflation, sending shares of the department store chain down 7%.
Shares of C3.ai Inc dropped nearly 20% in premarket trading on Thursday after the AI software maker’s quarterly revenue forecast missed estimates, dampening some of Wall Street’s recent euphoria around AI-linked stocks.
Boeing Co CEO Dave Calhoun downplayed speculation that China’s maiden commercial flight of its domestically produced C919 narrowbody jet could foreshadow the end of the duopoly currently held by the U.S. planemaker and its European rival Airbus SE .
Dollar General Corp cut its full-year same-store sales and profit forecasts on Thursday as inflation-hit Americans, discouraged by higher prices for everything from home goods to consumables, tightened spending.
Japan’s Hitachi Astemo said on Thursday an auto industry veteran will take over as top executive from Brice Koch, who handled the automotive supplier’s response to misconduct over testing and other procedures for components going back as far as the 1980s.
The euro steadied on Thursday near a two-month low after data showed euro zone inflation eased more than expected last month, backing arguments for only cautious further rate hikes by the European Central Bank (ECB).
Southwest Airlines Co said on Thursday it continues to expect a strong adjusted profit for the full year as travelers fly more for leisure, leading to more ticket sales.
OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters.
