Afternoon Coffee: US Durable Goods Orders Jump in January, Apple Supplier Foxconn Halts Sharp Takeover

Igor-Mojzes/Adobe Stock

U.S. orders for durable goods rose 4.4% in January, more than economists were expecting and the largest monthly increase in 10 months. The biggest gains were seen among orders for autos and aircraft, which jumped 11.5%.

Apple supplier Foxconn unexpectedly halted its buyout of Sharp Corp. today, hours after it previously announced it had agreed to takeover the Japanese electronics maker. Foxconn reportedly discovered undisclosed liabilities and had to clarify terms in “new material information.”

2015 was a slow year for global container port traffic growth, rising just 1.1% last year. It was the slowest pace of growth since 2009 when container volume sank 8.4%.

Target announced numerous fourth-quarter performance improvements, such as better in-stock performance, an increase in online sales and higher number of online orders being fulfilled from physical stores. Target credited the positive changes to shifts in how inventory flows through its supply chain.

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