Page 1137 - Business Finance
Exclusive: Venezuela plans to fly central bank gold reserves to UAE - source
CARACAS (Reuters) - Venezuela will sell 15 tonnes of gold from central bank vaults to the United Arab Emirates in coming days in return for euros in cash, a senior official with knowledge of the plan said, as the crisis-stricken country seeks to stay solvent.
Amazon sales outlook disappoints after record holiday quarter
(Reuters) - Amazon.com Inc on Thursday forecast first-quarter sales below Wall Street estimates as new regulations in India created uncertainty around one of its key growth markets, dimming the online retailer's report of record holiday season profit.
US banks shifting some London staff ahead of Brexit deadline
With two months until Brexit takes effect, US banks have begun transferring some London staff to Continental Europe and drawing up contingency plans in case of a "hard" Brexit. Around 400 Bank of America employees are set to transfer to Paris and Frankfurt starting in February, according to a person familiar with the matter. About half of this group -- or 200 people -- will be in place before the March 29 Brexit deadline, with the remainder following soon after. The biggest US bank by assets, JPMorgan plans to shift "several hundred" jobs from London to the Continent and had already moved a handful employees at the end of 2018. It has informed other British staff of relocations, said a source close to the situation. The person did not specify where in Europe the employees went. JPMorgan currently has offices in Frankfurt, Paris, Milan, Dublin and Luxembourg. Goldman Sachs has beefed up its staffing in both Frankfurt and Paris so that it can react "seamlessly" to clients starting March
Amazon first-quarter sales forecast misses estimates, shares down
(Reuters) - Amazon.com Inc on Thursday forecast first-quarter sales below Wall Street estimates, even as sales for the holiday quarter hit a record and rose 20 percent.
S&P 500's best month since 2015 ends on a high note
(Reuters) - Wall Street ascended on Thursday, with the S&P 500 wrapping up its biggest monthly increase since 2015 after strong earnings from Facebook Inc added to optimism after the Federal Reserve's dovish remarks.
US stocks close mixed amid earnings, Fed decision
US stocks closed mixed on Thursday as investors digested corporate earnings reports as well as the central bank's latest rate decision.
Amazon first-quarter sales forecast misses estimates
(Reuters) - Amazon.com Inc on Thursday forecast first-quarter sales below Wall Street estimates, as it faces new regulatory hurdles in India and a slowdown in e-commerce sales in Europe.
Exxon CEO combines exploration units to reverse output declines
HOUSTON (Reuters) - Exxon Mobil Corp on Thursday outlined a major reorganization of its global exploration businesses aimed at reversing years of weak oil and gas output.
U.S. crude settles lower amid trade concerns
NEW YORK (Reuters) - U.S. crude prices settled lower on Thursday as uncertainty about trade overtook bullish news about production cuts and U.S. monetary policy that drove prices higher early in the session.
Global Markets: Fed pause sets stocks for best January on record, yields fall
NEW YORK (Reuters) - Global equity markets mostly rose on Thursday, propelled by Facebook's upbeat earnings and the Federal Reserve's pledge to be patient in raising borrowing costs further, while U.S. bond yields fell on indications of weaker-than-expected inflation.
Fiat Chrysler cancels shifts due to strains on utility
WASHINGTON (Reuters) - Fiat Chrysler Automobiles NV said on Thursday it was cancelling two additional shifts at its Warren Truck and Sterling Heights Assembly plants after CMS Energy Corp made an emergency appeal to users to conserve natural gas following a fire at a compressor station and extremely cold weather.
Musk not worried about Tesla Model 3 demand, Wall Street thinks otherwise
(Reuters) - Tesla Inc shares fell on Thursday as Wall Street wondered if demand for its mass market Model 3 sedan could be sustained while it tries to make substantial inroads in China.
Gold steady after hitting nine-month peak on Fed rate freeze; eyes monthly gain
(Reuters) - Gold prices were steady on Thursday, having earlier hit their highest in nine months, after the U.S. Federal Reserve kept interest rates steady and said it would be patient on further hikes, keeping bullion on track for a fourth straight monthly gain.
General Electric's modest gains, candour spark 'relief rally'
(Reuters) - General Electric Co beat estimates for sales and cash flow in the fourth quarter and said on Thursday it had reached a tentative deal to settle a subprime mortgage case with U.S. regulators, sending its shares sharply higher.
Wall St ascends, S&P 500 heads for best month since 2015
(Reuters) - The S&P 500 and the Nasdaq extended a rally on Thursday as strong earnings from Facebook Inc added to optimism after the Federal Reserve's dovish remarks, while investors waited for the outcome of U.S.-China trade talks.
Exxon launches major reorganization of exploration units
HOUSTON (Reuters) - Exxon Mobil Corp on Thursday outlined a major reorganization of its global exploration business aimed at reversing weak oil and gas output.
Mastercard, Visa warn of lower overseas spending in 2019
(Reuters) - Quarterly reports from Mastercard and Visa indicated a drop in 2019 overseas spending by cardholders due to a strong dollar, an outcome of the U.S.-China trade dispute, a potential Brexit and geopolitical uncertainty in Latin America.
Tesla shares fall after surprise CFO exit
Shares of electric carmaker Tesla Motors were under pressure Thursday following the surprise replacement of the company's chief financial officer. Chief Executive Elon Musk announced the shift in the final moments of an earnings conference call on Wednesday night, saying Deepak Ahuja, 56, would be replaced by Zach Kirkhorn, currently a vice president in finance. Ahuja's departure follows other executive turnover at the hard-charging Musk's electric car company. Tesla shares were down 0.4 percent at $307.42 at mid-morning after falling as much as 4.8 percent earlier in the session. A note from JPMorgan Chase highlighted the exit as a key disappointment following Tesla's mixed results, citing the outgoing executive's "long automotive industry experience" and 11 years at the company. Ahuja "provided relative stability to the firm's finance staff that has otherwise seen a great deal of churn," the JPMorgan note said. A Canaccord Genuity note said Ahuja's exit was "likely to stir investor
Huawei rival Nokia profits from demand for 5G networks
Telecoms gear provider Nokia reported Thursday a rise in fourth-quarter earnings thanks to strong demand for new-generation mobile networks, the so-called 5G systems that have been the focus of a high-stakes dispute between the U.S. government and Nokia rival Huawei. Nokia's net profit for the October-December rose to 741 million euros ($852 million) from 716 million euros a year earlier. Sales grew 3 percent to 6.9 billion euros. CEO Rajeev Suri said the company's performance is expected to improve further this year as "a fast and meaningful shift" into 5G networks takes place. While fourth quarter figures were above analyst predictions, Suri noted that 2019 was off to a slow start with operators' spending on 5G "soft" during the first six months. Market for the faster but more expensive 5G networks was expected to turn "robust" in the latter part of the year and to substantially pick up in 2020-21 with operators worldwide updating their networks and technology, he said. "I'm a big .
Trump says wants big trade deal with China or will 'postpone' it
WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday he would either strike a very big trade deal with China or "postpone" it, but it was not clear precisely what he was referring to.