Page 2253 - Business Finance

Stocks surge, recovering some recent losses; Dow climbs 547

US stocks rocketed to their biggest gain in six months Tuesday following strong earnings from major financial and health care companies as well as encouraging reports on the economy. The Dow Jones Industrial Average jumped 547 points. Morgan Stanley, Goldman Sachs and UnitedHealth led a parade of companies that reported profits for the third quarter that surpassed analysts' expectations. Technology companies also jumped after taking steep losses during the market's rout last week. The S&P 500 index jumped 59.13 points, or 2.1 percent, its largest gain since March 26, and finished at 2,809.92. Stocks have bounced around over the last three days, and the S&P 500 is down 4.1 from its record high on Sept. 20. The Dow gained 547.87 points, or 2.2 percent, to 25,798.42. The Nasdaq composite climbed 214.75 points, or 2.9 percent, to 7,645.49 as technology companies reversed some of their outsize losses from the last few days. The Russell 2000 index of smaller-company stocks had its ..

India ranked 58th most competitive economy in WEF index, jumps 5 places from 2017

India has been ranked as the 58th most competitive economy on the World Economic Forum's global competitiveness index for 2018, which was topped by the US. India's rank rose by five places from 2017, the largest gain among G20 economies, the WEF said. On the list of 140 economies, the US is followed by Singapore and Germany at the second and the third positions respectively. India was ranked 58th with a score of 62.0 in the latest Global Competitiveness Report. "This is the largest gain among all G20 economies," WEF said. Meanwhile, neighbouring China was ranked at the 28th position in the overall list. According to the report, the top performers in the "upper and lower middle-income brackets", such as China and India, are catching up with or even outperforming the average among high-income economies. "China, is already more advanced when it comes to investing in research and development sub-pillar than the average high-income economy, while India is not far behind and let down only ..

CORRECTED - Goldman Sachs will slow consumer loan growth if market falters

(Corrects pars 4 and 5 to state comments were made by incoming CFO Stephen Scherr, not current CFO Marty Chavez)

US announces financial assistance to support Iraq's ethnic, religious minorities

The United States has announced over USD 178 million in assistance to support ethnic and religious minorities in Iraq.With this assistance, the total aid issued by the US for this population will reach nearly USD 300 million since the fiscal year 2017, read a statement issued by the US Department of State.Furthermore, the Department of State said the preservation of Iraq's rich historical pluralism is critical to reintegrating persecuted ethnic and religious minority communities into a peaceful Iraq.The US also said that their efforts focus on Genocide Recovery and Persecution Response (GRPR), clearing the Explosive Remnants of War, Social, Economic, and Political Empowerment and Preservation of Historic and Cultural Heritage Sites.Around USD 133 million has been directed toward genocide recovery and persecution response, while approximately USD 37 million will be granted to support explosive remnants of war (ERW).Apart from this, USD 8.5 million will be allocated for social, economic

Oil up; Iran, Saudi supply worries offset U.S. supply growth

NEW YORK (Reuters) - Oil prices edged up in cautious trade on Tuesday as expectations of higher U.S. shale output and inventories vied with worries that crude supply from the Middle East could be disrupted by looming U.S. sanctions on Iran and growing tensions with top exporter Saudi Arabia.

Global stocks rebound with earnings in focus; oil up on supply concern

NEW YORK (Reuters) - Stocks across the world bounced back on Tuesday, supported by strong earnings results and expectations, while oil prices rose as evidence of higher U.S. production was overshadowed by concerns about supply from Iran and Saudi Arabia.

Netflix subscriber growth beats estimates, shares surge

(Reuters) - 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."

Wall St. rallies over 2 percent with earnings, data boost

NEW YORK (Reuters) - U.S. stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off.

Wall Street jumps more than 2 percent after earnings, data

NEW YORK (Reuters) - U.S. stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies, including UnitedHealth and Goldman Sachs, and solid economic data, as equities rebounded from a recent sharp sell-off.

Netflix subscriber growth beats estimates

(Reuters) - Netflix Inc added more subscribers than expected in the third quarter, as new seasons of original shows such as "Orange is The New Black" and "BoJack Horseman" pulled in users.

Gold flat as softer dollar offsets improving risk appetite

BENGALURU (Reuters) - Gold held steady near 2-1/2-month highs on Tuesday as dollar weakness offset improved risk appetite among investors, reflected in recovering global stock markets.

Trump says 'my biggest threat is the Fed'

WASHINGTON (Reuters) - 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.

Wall Street rallies back with earnings boost

(Reuters) - U.S. stocks surged on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off.

Weak rupee benefited Infosys in Q2: CFO

A weakening rupee against a strong US dollar benefited Indian software export major Infosys in the second quarter of fiscal 2018-19, said its Chief Financial Officer (CFO) M.D. Ranganath on Tuesday.

Walmart CEO points to new company culture, cuts profit forecast

(Reuters) - Walmart Inc's chief executive officer on Tuesday urged investors to revise their view of the company's business, touting its tech investments to grow online sales at a time that Walmart is battling Amazon.com for market share.

Isuzu eyes 40% growth in sales in India this fiscal

Japanese automaker Isuzu Motors, which Tuesday launched Isuzu mu-X, eyes 40% growth in volumes during the current financial year in India.

Emerging market currencies at their most undervalued ever: BAML survey

LONDON (Reuters) - A record number of investors think emerging market currencies are undervalued, Bank of America Merrill Lynch's October fund manager survey found on Tuesday.

Instacart valued at $7.6 billion after latest funding round

(Reuters) - Grocery delivery startup Instacart on Tuesday said it has raised $600 million in its latest funding round, adding to its war chest as it competes against heavyweights like Amazon.con Inc and valuing the company at $7.6 billion.

Dell maintains plans to go public despite Icahn opposition

(Reuters) - Dell Technologies Inc said on Tuesday it was sticking to its plans to go public by buying back its tracking stock, a day after activist investor Carl Icahn opposed the move.

Venezuela seeks banking services in Asia, Europe: official

CARACAS (Reuters) - Venezuela is seeking to open bank accounts in Asia and Europe to carry out hard currency transactions, Economy Vice President Tareck El Aissami said on Tuesday, amid U.S. financial sanctions that have made foreign commerce complicated for the OPEC member.