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Newspaper
Sun Journal
Location
New Bern, North Carolina, United States of America
Date
Feb 07, 2020
Page
5
Fiat Chrysler Automobiles reports fourth quarter profit up over a third to 1.58 billion euros as U.S. Ram truck sales and the Jeep Gladiator launch aid results. CEO Mike Manley calls 2019 historic amid near 50 billion euro merger with PSA Peugeot.
The Labor Department reports 2019 productivity up 1.7 percent, with a 1.4 percent gain in Q4. Labor costs rose 2.0 percent for the year. Economists see signs of stronger productivity through the expansion, while GDP growth slowed to 2.3 percent. Unemployment claims fell to 202,000, lowest since last April. The January jobs report is due Friday.
Air France and KLM extend suspensions to mainland China until March 16 with plans to resume daily Shanghai and Beijing flights after mid March. Iberia extends Shanghai return flights suspension to end of April. Tapestry warns China store closures hit sales, expects second half revenue down 200 to 250 million dollars. Nike notes half its China stores closed, retail traffic down. Capri Holdings foresees 100 million revenue drop this quarter with 150 of 225 China stores closed. Huawei to attend Mobile World Congress as planned amid sanctions context. ZTE to attend Barcelona event but cancel a product press event.
Twitter reported 4th quarter revenue of 1.01 billion, up 11 percent, exceeding forecasts, while net income fell to 119 million due to higher expenses. Daily users averaged 152 million, above projections, with advertising strength in the United States and plans to expand staff and international presence.
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