J.C. Penney `Going in the Right Direction': Gromek
Aug. 20 (Bloomberg) -- Joseph Gromek, former chief executive officer of Warnaco Group, talks about J.C. Penney Co.'s second-quarter results released today and business outlook. Gromek speaks with Stephanie Ruhle and Erik Schatzker on Bloomberg Television's "Market Makers." (Source: Bloomberg)
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The Crude Reality of BP's Sliding Profits
22:39 - BP Plc, the first oil major to report second-quarter results, said earnings fell 45 percent as lower crude prices continued to erode income and refining margins shrank. Profit adjusted for one-time items and inventory changes dropped to $720 million from $1.3 billion a year earlier, the company said Tuesday. That missed the $819 million average estimate of 13 analysts surveyed by Bloomberg. Downstream earnings, which include refining, declined 19 percent. Bloomberg's Ryan Chilcote reports and Source Head of Multi-Asset Research discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."