Business

Ford Motor Co on Wednesday posted a betterthanexpected quarterly profit on strong U.S. demand for pickups and SUVs, and forecast a fullyear pretax profit instead of a loss, boosting shares in afterhours trading.

General Electric narrowed its losses in its third quarter as it trimmed expenses and managed to post an adjusted profit that surprised Wall Street.

Mastercard Inc's quarterly profit missed analyst estimates on Wednesday as the COVID19 pandemic led to a slowdown in global travel and related spending, sending the payment processor's shares more than 4% lower.

Deutsche Bank posted a 182 million euro net profit in the third quarter as it navigates its ongoing restructuring and the coronavirus pandemic, the German lender disclosed on Wednesday.

Asian markets looked set for another weaker open on Wednesday as worries about a surge in coronavirus cases and dwindling hopes for a U.S. stimulus package kept investors gloomy.

U.S. jeweler Tiffany & Co and French luxury goods giant LVMH are in talks to settle their dispute over a $16 billion takeover at a price slightly lower than that initially agreed, sources familiar with the matter said on Tuesday.

Eli Lilly and Co on Tuesday aimed to ease investor concerns about its COVID19 antibody treatment after a trial of the therapy failed to show a benefit in hospitalized patients.

U.S. aerospace manufacturer Raytheon Technologies Corp forecast weak demand from airlines as the COVID19 pandemic hobbles the air travel industry but said cost cuts helped it report a betterthanexpected quarterly profit.

Drugmaker Pfizer saw its third-quarter profit plunge 71%, mainly due to an $8.1 billion gain a year earlier from selling its consumer health care business to a GlaxoSmithKline joint venture, but managed to top Wall Street expectations.

Oil rose on Tuesday towards $41 a barrel as oil companies shut down some U.S. Gulf of Mexico oil output due to a hurricane, although surging coronavirus infections and rising Libyan supply limited gains.

Insurer American International Group Inc on Monday said its board approved a plan to separate the life and retirement business from the rest of the company, and named President Peter Zaffino as chief executive officer, effective next year.

Stocks that moved heavily or traded substantially Monday:

Aeroengine maker RollsRoyce will ask shareholders on Tuesday for 2 billion pounds ($2.6 billion) in a makeorbreak attempt to survive the COVID19 pandemic, which has stopped planes flying and hammered its finances.

According to the worldsteel data, China registered a 10.09 per cent year-on-year growth in steel output at 92.555 MT during September 2020, as compared to 83.447 MT in September 2019.

The following are key comments by ECB President Christine Lagarde on her interpretation of the ECB's mandate.

Hopes that Pfizer could apply for a U.S. emergency use of its COVID19 vaccine in November helped soothe financial markets shaken by fears that that the resurgent coronavirus pandemic may undermine a fragile economic recovery.