Page 2099 - Business Finance
Facebook's rise in profit outweighs slow user, sales growth
(Reuters) - Facebook Inc on Tuesday beat profit estimates but missed targets for growing monthly users and reported its slowest revenue growth in about six years in a quarter some investors feared would be hit harder by defections from the social media site.
Brexit threat to Britain's latest budget: Expert
The latest budget unveiled by British Chancellor of the Exchequer Philip Hammond saw him give away 20 billion pounds worth of extras, a decision which could lead to much higher borrowing in the future if there is an unfavorable Brexit, a leading expert warned.
Facebook posts strong 3Q profit, lukewarm revenue
Facebook didn't hit it out of the ballpark with its latest quarterly report, but the bar isn't so high these days for the image-battered social networking giant. The company reported a slight revenue miss but stronger than expected profit for the July-September period. Coming three months after its stock suffered its worst one-day drop in history, wiping out USD 119 billion of its market value, the mixed results were perhaps not the redemption Facebook hoped for. But shares inched a bit higher after-hours, suggesting, at least, that the social media giant didn't further spook investors. With the myriad problems Facebook is facing, that's what passes for good news these days. "Overall, given all the challenges Facebook has faced this year, this is a decent earnings report," said eMarketer analyst Debra Aho Williamson. Facebook had 2.27 billion monthly users at the end of the quarter, below the 2.29 billion analysts were expecting. Facebook says it changed the way it calculates users, ..
Oil prices down more than one percent on rising supply, trade war
NEW YORK (Reuters) - Oil prices dropped more than 1 percent on Tuesday on signs of rising supply and concern that global economic growth and demand for fuel will fall victim to the U.S.-China trade war.
Gold industry sees prices rising to $1,532/oz over 12 months
BOSTON (Reuters) - The price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association's annual gathering predicted on Tuesday.
General Electric reveals deeper regulatory probe, restructuring
(Reuters) - General Electric Co slashed its dividend on Tuesday, said it faces a deepening federal accounting probe and vowed to restructure its power unit, as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate.
Wall Street rebounds as chip, transport shares surge
NEW YORK (Reuters) - Major U.S. stock indexes jumped more than 1 percent on Tuesday, helped by strong gains for chip and transport stocks as investors took advantage of cheaper prices following a steep recent pullback for equities.
Facebook shares stung by slow user, sales growth
(Reuters) - Facebook Inc on Tuesday beat analysts' profit estimates but missed targets for growing monthly users and reported its slowest revenue growth in about six years.
U.S. leads equities higher on hopes of U.S.-China trade deal
NEW YORK (Reuters) - Broad gains in the U.S. equity market boosted a measure of global stock markets on Tuesday after President Donald Trump said a "great deal" could be struck with China that would relieve fears of a growing trade war between the world's two largest economies.
Wall St rebounds as chip, transport shares surge
NEW YORK (Reuters) - Major U.S. stock indexes jumped more than 1 percent on Tuesday, helped by strong gains for chip and transport stocks as investors took advantage of cheaper prices following a steep recent pullback for equities.
Facebook misses estimates for monthly users, revenue
(Reuters) - Facebook Inc on Tuesday missed estimates for quarterly user growth and revenue but topped profit expectations as the social network tries to recover from privacy and content scandals.
Exclusive: Apollo in advanced talks to acquire Arconic -sources
(Reuters) - Private equity firm Apollo Global Management LLC is in advanced negotiations to acquire aluminium products maker Arconic Inc for more than $11 billion, people familiar with the matter said on Tuesday.
Exclusive: Petrobras could divest another $20 billion in assets through 2019 -source
RIO DE JANEIRO (Reuters) - Brazil's Petroleo Brasileiro SA could sell an additional $20 billion in assets through next year, a person with knowledge of the matter told Reuters on Tuesday, indicating that the state-run oil company expects to maintain its robust pace of divestments despite recent setbacks.
Exclusive: Buyout firms Bain, CVC compete for Papa John's -sources
(Reuters) - Bain Capital and CVC Capital Partners are among the private equity firms competing to acquire Papa John's International Inc , the world's third-largest pizza delivery company, people familiar with the matter said on Tuesday.
SBI reduces daily cash withdrawal limit
The State Bank of India (SBI) has reduced the per day cash withdrawal limit for all Classic and Maestro Debit Cards holders from Rs 40,000 to Rs 20,000 with effect from Wednesday."Daily Cash withdrawal limits for Classic and Maestro Debit Cards reduced from Rs 40,000 to Rs 20,000 per day with effect from October 31, 2018. If you require higher daily cash withdrawal limit, please apply for a higher card variant," read a statement from the bank.The decision has reportedly been taken by the bank to curb increasing instances of ATM frauds.
Wall Street edges back, helped by bargain hunters
NEW YORK (Reuters) - Major U.S. stock indexes posted modest gains on Tuesday, helped by gains for chip stocks as investors took advantage of cheaper prices following a steep recent pullback for equities.
Cummins India Q2 standalone profit up 38%
Engines and generators manufacturer Cummins India on Tuesday reported a rise of 38.36 per cent in its standalone net profit for the quarter ended September 30, 2018.
Bank of Baroda's Q2 net profit up 20%
State-run lender Bank of Baroda on Tuesday reported a rise of 19.72 per cent in its standalone net profit for the second quarter of 2018-19 aided by lower provisioning for non-performing assets (NPAs).
Results for railways' CBT to be declared by Nov 5: Officials
The results for the railways' first stage computer based test (CBT) for assistant loco pilots and technicians posts are likely to be declared by November 5, officials said Tuesday. The second stage of the CBT will begin on November 19. The Railway Recruitment Boards (RRBs) had held the first stage of Computer Based Test for 47.56 lakh candidates from August 9 to September 4 this year. The Railway Recruitment Control Board (RRCB) has also conducted examinations for over one crore candidates for recruitment to level-1 posts (erstwhile Group D). In all, 1.89 crore candidates are to sit for this examination to compete for 62,907 vacancies in level-1 posts, the railways said. The examinations are being held in over 400 centres. Each day 3 lakh to 4 lakh candidates appear for the examinations with attendance of over 60 per cent, the railways said. The entire process will be completed in 51 days by the end of December, 2018.
Fiat Chrysler's lower cash forecast overshadows special dividend pledge
MILAN/DETROIT (Reuters) - Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.3 billion) in special dividends, but a lower net cash forecast and its over-reliance on the North American market weighed on its shares.