U.S. light-vehicle sales regained momentum in April as cheap credit, low gasoline prices and rising consumer confidence helped drive more buyers to showrooms. Fiat Chrysler and Ford sales rose, while GM slipped on a fleet-business pullback.
Halliburton’s quarterly loss widened, hurt by drastically lower revenue from its North American business amid the downturn in the energy market, as well as charges from its failed tie-up with Baker Hughes.
BMW, the German luxury car maker, warned of a difficult trading outlook for the rest of year, citing uncertainty in China, Europe and the U.S. which helped send its stock price lower despite reporting improved first-quarter net profit.
Lufthansa may further cut capacity and restructure its air-cargo unit to offset lower prices even as the German carrier posted a narrower first quarter-operating loss, a closely watched measure of its performance.