Business Category Archive
The third-quarter reporting season kicks off this week with European companies on track for a second year of solid profit growth, but investors are shunning them even though valuations have not been this cheap since the euro zone crisis.
Tesla Inc has signed an agreement with the Shanghai government for an 860,000 square meter plot of land to build its first overseas Gigafactory, the electric carmaker said in a Chinese social media post on Wednesday.
Goldman Sachs analysts said slowing car demand in China and new fuel consumption regulations were hurting investors’ sentiment toward European autos stocks and warned this results season could be challenging, hitting shares in the sector on Wednesday.
A responsible investment non-profit organisation said on Wednesday it aims to develop a blockchain tool to track companies’ sustainable commitments, to help identify those not keeping up with their ethical credentials.
Uber Technologies Inc [UBER.UL] is to connect passengers and drivers directly to emergency services in Europe, the Middle East, and Africa as part of a wider rollout of largely existing safety features over the next few weeks.
Statements by the United States that it would reduce Iran’s oil exports to zero are a “political bluff”, the head of state-run National Iranian Oil Company (NIOC) said, according to a report published by Tasnim news agency on Wednesday.
The Philippines’ competition watchdog fined ride-hailing firms Grab and Uber Technologies on Wednesday, saying they consummated their merger too soon and that the quality of service dipped, becoming the second regulator in the region to penalize them.
A hard Brexit could ground Ryanair
The chief executive of French bank Societe Generale
Asian equities got some much needed relief on Wednesday after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little confidence in emerging market stocks and currencies.
Semiconductor industry bellwether ASML Holding NV’s better-than-expected third quarter results and bullish outlook gave sector stocks a boost on Wednesday after fears of slackening demand had dragged them down in recent months.
U.S. President Donald Trump heaped more criticism on the Federal Reserve in an interview with Fox Business Network on Tuesday, extending his discontent beyond its chairman, Jerome Powell, who he has frequently critiqued in public.
Financial technology startups and other new entrants are making inroads in the U.S. banking market, but have yet to capture a threatening share of bank revenues, according to research published by Accenture Plc on Wednesday.
OPEC has urged its members not to mention oil prices when discussing policy in a break from the past, as the oil producing group seeks to avoid the risk of U.S. legal action for manipulating the market, sources close to OPEC said.
The U.S. Trade Representative’s office told Congress on Tuesday it intends to open trade talks with the European Union, the United Kingdom and Japan.
Japan’s Fujifilm Holdings Corp <4901.T> has won an appeal in its legal battles with Xerox Corp
Chinese search engine Baidu Inc
Uber Technologies Inc [UBER.UL] is considering selling minority stakes in its costly self-driving car unit as the ride-hailing company tries to address rising cost pressures ahead of its initial public offering, the Financial Times reported on Wednesday.
The Chinese city of Zhoushan is in talks with oil major Exxon Mobil Corp
Even as crude prices hover near four-year highs, U.S. oilfield service firms’ third-quarter results due out in coming days will reflect a shaky recovery, as their customers face drilling constraints and pressure to hold down spending.
Samsung Electronics Co Ltd <005930.KS> said on Wednesday it has bought Barcelona-based network data analysis firm Zhilabs, as the South Korean giant gears up to launch products for connected devices and 5G mobile services that require fast data crunching.
Google-owned YouTube said https://bit.ly/2QYd3RB on Tuesday a widespread issue with some of its services has been resolved, almost two hours after several people took to social media to complain about broadcasting issues.
Softbank Group Chief Operating Officer Marcelo Claure said on Tuesday it is “business at usual” at companies backed by its nearly $100 billion Vision Fund despite a tense situation with Saudi Arabia, which provided nearly half of the fund’s capital.
Uber Technologies Inc [UBER.UL] recently received proposals from Wall Street banks valuing the company at as much as $120 billion in an initial public offering that could take place early next year, the Wall Street Journal reported on Tuesday.
Netflix Inc added about 7 million streaming customers in the latest quarter, 1.8 million more than Wall Street expected, as it debuted a record amount of original programming, including new seasons of popular shows “Orange is the New Black” and “BoJack Horseman.”
The Mexican Supreme Court on Tuesday struck down a ban on cash fares for ride-hailing firms, setting a key precedent for Uber and other industry players seeking to reach millions of Mexicans without credit cards.
Wall Street’s top investment banks enjoyed a strong third quarter as strength in stock trading and equity underwriting added to the benefits from a strong U.S. economy and tax reforms.
Humming away in an industrial estate in the eastern Chinese resort city of Hangzhou, electric vehicle designer Automagic is one of hundreds of companies looking to ride the country’s wave of investment in clean transportation.
CSX Corp on Tuesday reported quarterly profit that topped Wall Street’s view, as the No. 3 U.S. railroad operator benefited from ongoing cost-cutting, broad-based volume growth and higher prices for moving freight.
Tesla Inc and General Motors Co, which have lobbied Congress to lift a cap on electric vehicles eligible for a $7,500 tax credit, could get their way for up to four years under a new proposal from a Republican senator.
The U.S. economy sits atop of the World Economic Forum’s annual global competitiveness survey for the first time since the 2007-2009 financial crisis, benefiting from a new ranking methodology this year, the Swiss body said on Tuesday.
The new contract between U.S. Steel Corp and its workers proposes to increase wages by 14 percent over a four-year period, three sources familiar with details of the negotiations told Reuters on Tuesday.
U.S. stock futures signaled a slight recovery on Tuesday, as upbeat earnings reports from Morgan Stanley and UnitedHealth among others helped ease jitters over the impact of various global issues on corporate profits.
Honda Aircraft Co chief executive Michimasa Fujino said on Tuesday he expects deliveries of the HondaJet to rise in 2019 above the estimated 50 aircraft customers will take this year, as the light business plane maker targets Asia for growth.
International Business Machines Corp missed Wall Street estimates for third-quarter revenue as software sales slow down and a boost from the launch of new server products begins to dry up, driving its shares down 4 percent on Tuesday.
MGM Resorts Means Business as it Wraps Up 2018 with Completion of Major Expansions, First-to-Market Venues
MGM Resorts International continues to introduce more options for meeting planners to enhance group events within one of the world’s premier meetings destinations – Las Vegas.
Ride-hailing firm Uber Technologies Inc increased the size of its debut bond offering to $2 billion as orders for the private placement swelled during an otherwise slow week for junk-bond sales, Bloomberg reported on Tuesday.
Switzerland’s nine-year streak as the world’s most competitive economy came to an end on Wednesday, dethroned by the United States in an annual league table published by the World Economic Forum (WEF).
Google CEO Sundar Pichai publicly defended for the first time Monday his company’s work on a censored search engine for China.
United Airlines posted a forecast-beating rise in third-quarter profit on Tuesday and raised its 2018 forecast for the third time this year, lifted by its strategy to add flights at three mid-continent U.S. hubs: Chicago, Denver and Houston.
We also learned that Alpine police officer Ismael Hernandez
Goldman Sachs reported a 20.5 percent increase in quarterly profit on Tuesday as growth in its equities trading and underwriting businesses made up for a fall in fixed income trading.
Asian stocks bounced modestly on Tuesday, gaining a toe-hold after a week of heavy losses, although increasing tensions between Saudi Arabia and the West fanned geopolitical concerns and capped gains.
U.S. tech giant Google will charge smartphone makers a licensing fee for using its popular Google Play app store and also allow them to use rival versions of its Android mobile operating system to comply with an EU antitrust order.
U.S. judge approves settlement between SEC, Tesla and Musk
EU antitrust regulators reviewing Sony Corp’s $2.3 billion bid for EMI are asking rivals and users whether they think the Japanese group would use its greater market power to win better terms in digital media deals.
Microsoft Corp co-founder Paul Allen, the man who persuaded school-friend Bill Gates to drop out of Harvard to start what became the world’s biggest software company, died on Monday at the age of 65, his family said.