Category: Business

Mattel Inc reported a surprise rise in quarterly sales on Thursday and forecast more growth in the holiday season, as retailers rushed to restock their shelves of Barbie dolls and other toys in high demand from stuck-at-home kids. The toymaker’s shares rose 6% in extended trading. With the COVID-19 pandemic forcing schools in many parts […]

The world’s largest planemaker Airbus has taken the industry by surprise by asking suppliers to prepare for a sharp increase in production after the coronavirus crisis – yet at the same time it quietly delayed its timetable for recovery. Airbus said on Thursday it had asked suppliers to be ready to support an 18% increase […]

The housing market has been one of the few bright spots since the coronavirus pandemic slammed the U.S. economy, a boom that at a glance would appear to be aiding the financial wellbeing of American homeowners and ought to offer a tailwind to President Donald Trump heading into the homestretch of the election. But as […]

A California appeals court on Thursday unanimously ruled against ride-hailing companies Uber Technologies Inc and Lyft Inc, saying they must reclassify their drivers in the state as employees. Court rules Uber, Lyft must make drivers employees While the ruling does not take effect before a Nov. 3 company-sponsored ballot measure that will give voters the […]

Representatives of Amazon.com Inc in India have refused to appear before a parliamentary panel reviewing the country’s privacy bill, an Indian lawmaker said on Friday, an allegation the U.S. commerce giant said was a result of a misunderstanding. Meenakshi Lekhi, head of a parliamentary panel which is reviewing the Indian government’s Personal Data Protection Bill, […]

American International Group Inc agreed to give up claims to more than $400 million of foreign tax credits and to accept a 10% tax penalty to settle accusations it used abusive tax shelters, the U.S. Department of Justice said on Friday. Acting U.S. Attorney Audrey Strauss in Manhattan said the settlement related to seven cross-border […]

Data firm IHS Markit said on Friday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 55.5 this month. That was the highest since February 2019 and was up from 54.3 in September. A reading above 50 indicates growth in private sector output. It said […]