Page 1321 - Business Finance
U.S. oil prices edge down amid uncertain global economic outlook
SYDNEY (Reuters) - U.S. oil prices inched lower on Wednesday after gains of more 3 percent in the previous session, pressured by concerns over the outlook for the global economy.
As loans and revenue shrink, Wells Fargo leans on cost cuts
(Reuters) - Wells Fargo & Co's loan book shrank and revenue fell across all its major businesses last quarter, as the fourth-largest U.S. lender continued to work through the consequences of wayward sales practices at its consumer bank.
Snap CFO Tim Stone to resign, shares drop 8 percent
(Reuters) - Chief Financial Officer Tim Stone will be leaving Snap Inc less than a year after taking the job, the company said on Tuesday, the latest in a string of executive departures from Snap over the past year.
Netflix raises prices for U.S. subscribers
(Reuters) - Netflix Inc is raising monthly fees for its U.S. subscribers by between 13 percent and 18 percent, the video streaming pioneer's first price increase since 2017 as it spends heavily on original content and international expansion.
JPMorgan misses fourth-quarter profit estimates as bond trading slumps
(Reuters) - JPMorgan Chase & Co missed profit estimates for the fourth quarter as a slump in bond trading revenue overpowered strong consumer loan growth and record revenues.
Snap CFO Stone to resign less than a year into role
(Reuters) - Chief Financial Officer Tim Stone will be leaving Snap Inc less than a year after taking the job, the company said on Tuesday, the latest in a string of executive departures from Snap over the past year.
Global Markets - Stocks rise on China hopes; sterling rebounds as Brexit vote fails
NEW YORK (Reuters) - Major world stock markets climbed on Tuesday on hopes of more stimulus for China's economy, while sterling rebounded from the day's lows after British lawmakers defeated Prime Minister Theresa May's deal on withdrawing from the European Union.
Netflix, China boost Wall St. as investors shrug off Brexit vote
NEW YORK (Reuters) - U.S. stocks rose on Tuesday as technology and internet stocks gained on Netflix Inc's plans to raise fees for U.S. subscribers and hopes of more stimulus for China's slowing economy fostered a risk-on mood among investors.
Global Markets - Pound jumps as Brexit vote fails; stocks rise on China hopes
NEW YORK (Reuters) - Sterling rebounded from the day's lows on Tuesday after British lawmakers defeated Prime Minister Theresa May's deal on withdrawing from the European Union, and major world stock markets climbed on hopes of more stimulus for China's economy.
Global Markets - Stocks rise on hopes for China stimulus; euro slips on data
NEW YORK (Reuters) - Major world stock markets climbed on Tuesday, helped by hopes of more stimulus for China's economy, while the euro declined against the U.S. dollar following weak German economic data.
PG&E misses interest payment on 2040 notes; bonds, shares plummet
NEW YORK (Reuters) - The price of bonds and shares in PG&E Corp plummeted after the California power company failed to make a $21.6 million interest payment due Tuesday on its 2040 senior notes.
Netflix, tech rally lift Wall Street as investors shrug off weak bank results
(Reuters) - U.S. stocks rose on Tuesday as Netflix spurred a rally in technology and internet stocks and UnitedHealth posted strong results, while hopes of more stimulus for China's slowing economy encouraged buying in risky assets.
Brexit lures numerous financial institutions to Germany - watchdog
FRANKFURT (Reuters) - More than 45 financial institutions are planning to newly establish themselves or significantly increase their presence in Germany as a result of Britain's planned exit from the European Union, a German official said on Tuesday.
Fiat Chrysler looking at options to plug hole in its truck lineup - CEO
DETROIT (Reuters) - Fiat Chrysler Automobiles NV Chief Executive Mike Manley told Reuters on Tuesday he is open to partnerships to develop a new midsize pickup truck the automaker could sell in Latin America and other markets outside the United States to compete with models such as Ford Motor Co's Thailand-built Ranger.
Euro zone economy faces longer slowdown, not recession - ECB's Draghi
FRANKFURT (Reuters) - The euro zone's economy is not heading for a recession but still needs support from the European Central Bank as its slowdown could last longer than expected, the head of the ECB, Mario Draghi, said on Tuesday.
PMorgan misses estimates, caused by trading troubles
JPMorgan Chase & Co's fourth-quarter profits badly missed analysts' forecasts on Tuesday, caused by weakness in the bank's bond-trading business. The nation's largest bank said it earned USD 7.07 billion in the last three months of the year, or USD 1.98 per share, up from USD 4.23 billion, or USD 1.07 a share, in the same period a year earlier. Last year's results were impacted by the passage of the Republicans' tax law, which caused many big banks to make accounting adjustments and write off billions of dollars in what are known as tax-deferred assets. So while JPMorgan's profits were up 67 percent from a year earlier, they still missed Wall Street's expectations. Analysts surveyed by FactSet were looking for JPMorgan to earn $2.20 a share. The turmoil that whipsawed the markets in December weighed heavily on JPMorgan's results. While banks do like some volatility because it allows their traders to look for opportunities in markets, the movements in recent months were too ...
Airbnb says profitable for two straight years amid IPO talks
(Reuters) - Home-renting company Airbnb Inc said on Tuesday it was profitable on an adjusted basis for the second year in a row, ahead of a widely anticipated initial public offering this year.
Deutsche Bank well prepared for any Brexit outcome
BERLIN (Reuters) - Deutsche Bank is well prepared for all Brexit scenarios, the bank's chief executive said on Tuesday ahead of a British vote that could reject Prime Minister Theresa May's deal to leave the European Union.
PG&E misses interest payment on 2024 notes; bonds, shares plummet
NEW YORK (Reuters) - The price of bonds and shares in PG&E Corp plummeted after the California power company failed to make a $21.6 million interest payment due Tuesday on its 2024 senior notes.
UnitedHealth profit beats expectations, shares rise
(Reuters) - UnitedHealth Group Inc, the largest U.S. health insurer, beat Wall Street estimates for fourth-quarter profit on Tuesday, driven largely by growth in its Optum services business, including its pharmacy benefits unit.