Page 1159 - Business Finance

Facebook quarterly profit, revenue beat estimates

(Reuters) - Facebook Inc topped analysts' estimates for quarterly revenue and profit on Wednesday, helped by growth in its Instagram business and a steady rise in advertising spending by companies.

ICICI Bank probe finds ex-CEO Kochhar violated internal policies

MUMBAI (Reuters) - ICICI Bank Ltd said on Wednesday an investigation into former Chief Executive Chanda Kochhar found she had violated internal bank policies and the bank will seek to revoke her financial entitlements.

Big thumbs-up from Wall St after Fed signals patience on rates

(Reuters) - U.S. stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.

In a shift, Fed will be 'patient' on future U.S. rate hikes

WASHINGTON (Reuters) - The U.S. Federal Reserve on Wednesday held interest rates steady and, in a formal policy shift, vowed to be patient in further lifting borrowing costs, the clearest signal yet the tightening cycle it began in 2015 may have ended. Citing rising uncertainty about the U.S. economic outlook, Fed Chairman Jerome Powell said the case for raising rates had "weakened" and, in a statement, the U.S. central bank dropped its earlier expectation for "some further" tightening. The Fed also shifted to a more dovish stance on its ongoing shedding of assets, saying it was prepared to adjust its plans based on economic and financial developments. Powell, speaking to reporters after the end of the Fed's latest two-day policy meeting, said the central bank would likely stop trimming its $4.1 trillion balance sheet sooner, leaving it with more assets than previously expected. "The situation now calls for patience," he said, referring to the prospect of further rate ..

Big thumbs-up from Wall Street after Fed signals patience on rates

(Reuters) - U.S. stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.

Oil gains on tighter U.S. supply, Venezuela sanctions

NEW YORK (Reuters) - Oil prices rose on Wednesday, as U.S. government data that showed signs of tightening supply and investors remained concerned about supply disruptions following U.S. sanctions on Venezuela's oil industry.

Boeing shares soar on profit, aircraft forecast

(Reuters) - Boeing Co raised its profit and cash flow expectations for 2019 on Wednesday, sending shares up more than six percent amid a boom in air travel and faster production, though it was still fighting supplier delays on its cash-cow 737 jetliners.

Big thumbs up from Wall Street after Fed signals patience on rates

(Reuters) - U.S. stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.

U.S. private payrolls rise strongly; housing market struggling

WASHINGTON (Reuters) - U.S. private payrolls increased solidly in January, pointing to sustained labour market strength despite a recent easing in consumer and business confidence that has suggested a loss of momentum in the economy.

US Fed keeps interest rate unchanged, says will be 'patient'

The Federal Reserve left the key US lending rate unchanged on Wednesday, and said it would be "patient" about making any further changes, in the clearest signal yet the central bank has heeded concerns about the economy. Although the Fed continues to expect continued expansion of the economy and strong jobs growth are the "most likely outcomes," the statement signaled the growing uncertainty about the outlook. "In light of global economic and financial developments and muted inflation pressures, the committee will be patient as it determines" the timing and need for any further increases, the policy-setting Federal Open Market Committee said. In an unusual separate statement, the Fed also said it was prepared to change the pace of reduction of its massive securities holdings, after markets became concerned that the current process was too rigid. The language used in the FOMC statement, keeping the benchmark interest rate in a range of 2.25 percent to 2.5 percent, reflected the ...

Karnataka eyes investments, jobs in electric vehicles segment

Tech-savvy Karnataka would offer incentives to attract huge investments in rolling out electric vehicles (EV), generate jobs and opportunities for research in the e-mobility segments, said a state minister on Wednesday.

Fed leaves rates unchanged, says will be 'patient' on future hikes

WASHINGTON (Reuters) - The Federal Reserve held interest rates steady on Wednesday but said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the U.S. economic outlook.

Wall Street extends gain after Fed says to be patient on rates

(Reuters) - U.S. stocks extended their rally on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.

Fed leaves rates steady, says will be 'patient' on future hikes

WASHINGTON, Jan 30 (Reuters) - - The Federal Reserve held interest rates steady on Wednesday but said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the U.S. economic outlook.

NCLT admits insolvency plea against Emaar MGF Land, appoints resolution professional

The National Company Law Tribunal (NCLT) has asked to initiate insolvency proceedings against real estate firm Emaar MGF Land after two home buyers filed petition against the company for a huge delay in delivery of their housing units. Admitting the pleas of two of its home buyers, a two member bench headed by NCLT President Justice M M Kumar has appointed one Manoj Kumar Anand as the interim resolution professional of the company and directed him to make a public announcement about the development. The tribunal has also directed the company, its erstwhile director, promoters or any other person associated with the Emaar MGF Land to extend every assistance and cooperation to the interim resolution professional". The NCLT order came on the plea of two home buyers Neeraj Gupta and Arti Jain -- who had purchased flats at its Palm Greens, KherkiDaula, Gurgaon project. The real estate firm failed to deliver the project within 36 months to June 2015. Later, the builder also failed to ...

McDonald's warns of headaches in 2019 as overseas business booms

(Reuters) - McDonald's Corp warned higher labour costs, expenses for remodelling stores and a stronger dollar would weigh on its earnings in 2019, after a strong performance outside the United States powered better-than-expected fourth quarter results.

Boeing to decide in 2020 whether it will launch new mid-sized jet

SEATTLE (Reuters) - Boeing Co said on Wednesday it would make a final launch decision in 2020 on its proposed new mid-sized jetliner, depending on the results of a round of commercial pre-marketing which it may begin this year.

Wall Street climbs on Apple, Boeing results; Fed decision eyed

(Reuters) - U.S. stocks jumped on Wednesday, as Apple led a rally in technology shares and Boeing boosted sentiment with an upbeat forecast ahead of the Federal Reserve's monetary policy decision.

British restaurant insolvencies hit record, study shows

LONDON (Reuters) - The number of British restaurant insolvencies hit a record high in 2018 and have doubled since 2010, a study by accountants Price Bailey showed on Wednesday as the sector struggles with market saturation and competition from delivery apps.

Gold refiners Valcambi and Asahi make separate bids for bankrupt U.S. rival: sources

LONDON (Reuters) - Two of the world's largest precious metals refiners, Valcambi and Asahi, are separately bidding for the assets of their bankrupt Miami-based rival Republic Metals Corporation (RMC), two sources familiar with the matter said on Wednesday.