World stocks steadied on Thursday after two turbulent weeks as geopolitical worries eased in Asia and caution prevailed on the day the annual Jackson Hole gathering gets underway.Read More »
Dixons Carphone Plc forecast an unexpected drop in earnings this year, sending its shares plunging by as much as 32 percent, as more expensive mobile phones and a lack of hot new products deterred Britons from upgrading their handsets. Pretax profit will be in a range of 360 million pounds ($460 million) to 440 million pounds in the year through April, the U.K.’s largest electronics retailer said in an unscheduled statement Thursday. The average analyst estimate was 508 million pounds.
The future is arriving—a few tons at a time—at Suncor Energy Inc.’s North Steepbank oil sands mine in Alberta, Canada. Human-operated excavators scrape away the top layers of soil to get to the hydrocarbon-rich tar sand beneath in much the same way they always have. The trucks, part of a multiyear test, are just one way that Suncor and other oil sands producers are trying to bring down the cost of what traditionally has been one of the most expensive ways to extract crude.
A brief convergence this year in the dollar value of the balance sheets of the Federal Reserve, the European Central Bank and the Bank of Japan has passed and the trio are now set to take very different paths. With expectations that Janet Yellen may begin whittling away at the Fed’s balance sheet in the next few months, and the BOJ set to carry on with its unprecedented asset purchases, the Japanese central bank may find itself carrying something approaching double the load of its American counterpart two years from now.