Business News

• Sports Direct delays results as House of Fraser deal backfires July 16, 2019
  British retailer Sports Direct has delayed publishing its annual results, warning problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in December.
• Asian shares creep higher as wary investors await U.S. data, earnings July 16, 2019
  Most Asian stock markets rose on Tuesday, but gains were limited as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world's biggest economy ahead of a likely U.S. rate cut later this month.
• Ryanair cuts 2020 passenger forecast, fearing Boeing MAX delays July 16, 2019
  Europe's largest budget airline Ryanair has cut its forecast for passenger numbers next summer, blaming possible further delays in deliveries of Boeing 737 MAX planes.
• China says misleading to suggest it needs trade deal due to slowing economy July 16, 2019
  China's Foreign Ministry said on Tuesday that it was misleading to suggest Beijing needed a trade deal with the United States because its economy was slowing, following a tweet by U.S. President Donald Trump.
• Renault sees new model push as softening sales decline July 16, 2019
  French carmaker Renault posted a 6.7% decline in first-half vehicle sales amid a global auto slowdown, but said a forthcoming product offensive would begin to help soften the blow in key markets.
• Bayer shares up 1.8% trade after U.S. Roundup rule July 16, 2019
  Shares in German chemicals company Bayer rose 1.8% in early trade on Tuesday after a U.S. judge slashed a damages award Bayer owes a California man who blamed its Roundup weed killer for his cancer.
• South Korea bourse fines BofA Merrill Lynch branch over irregular trading July 16, 2019
  The Korea Exchange (KRX) said on Tuesday it has decided to impose a 175 million won ($148,655) fine on Bank of America Merrill Lynch's South Korean unit for irregular trading activities.
• South Korean forced labor victims to seek Japan's Mitsubishi asset sale July 16, 2019
  South Koreans forced to work for Japanese occupiers will seek a court order to forcibly liquidate Japan's Mitsubishi Heavy Industries' assets to compensate them, their lawyers said on Tuesday, risking more Japanese anger over the issue.
• New designer's ranges help lift sales at Burberry July 16, 2019
  British luxury brand Burberry on Tuesday reported a pick-up in first quarter sales after it began shifting more new designs by creative chief Riccardo Tisci into its stores as part of a turnaround plan.
• Oil falls as U.S. resumes Gulf of Mexico output, boosts shale supplies July 16, 2019
  Oil prices dipped on Tuesday, extending losses from the previous session, as output in the U.S. Gulf of Mexico resumed after Hurricane Barry and as U.S. shale production is set to rise to a record.