Page 835 - Business Finance

New products help Fidelity Investments parent keep pace with rivals

(Reuters) - Fidelity Investments parent FMR LLC said its 2018 operating profit rose 18.6 percent to $6.3 billion as new products like no-fee index funds helped the Boston mutual fund firm counter falling markets and keep pace with bigger rivals.

U.S. negotiator says EU should address agricultural biotech in trade talks

WASHINGTON (Reuters) - The U.S. Trade Representative's chief agricultural negotiator on Thursday ratcheted up pressure on the European Union to address long-standing issues in bilateral trade talks.

U.S., China resume trade talks to thrash out structural agreements

WASHINGTON (Reuters) - The top U.S. and Chinese trade negotiators resumed high-level talks on Thursday to hash out a deal that could end their trade war, just over a week before a U.S.-imposed deadline to reach agreement expires and triggers a new round of tariffs.

Gold falls off 10-month peak after Fed stance; palladium retreats

(Reuters) - Gold slipped from a 10-month peak on Thursday, pressured by signals the U.S. Federal Reserve will not adopt as dovish a stance on monetary policy as previously thought and as investors booked profits, while palladium retreated from a record high.

U.S. banks record $59.1 billion in profits in fourth quarter 2018

WASHINGTON (Reuters) - The U.S. banking sector recorded $59.1 billion in profits in the fourth quarter of 2018, down slightly from the third quarter's record level but still up significantly from the prior year, according to data from the Federal Deposit Insurance Corporation.

Ecuador to increase foreign reserves, revamp tax under IMF deal

QUITO (Reuters) - Ecuador will increase its foreign reserves, optimize public spending and make tax changes during the next three years to comply with a $4.2 billion financing deal with the IMF, Finance Minister Richard Martinez said on Thursday.

Valeo sees new contracts lifting sales after weak 2018

PARIS (Reuters) - French auto parts maker Valeo said 2018 profit fell in a "challenging year" marked by emissions-test bottlenecks that hit European car production and a slowdown in China.

New products help Fidelity Investments parent boost 2018 profit

BOSTON (Reuters) - Fidelity Investments parent FMR LCC said its 2018 operating profit rose 18.6 percent to $6.3 billion as new products like no-fee index funds helped the Boston mutual fund firm counter falling markets that reduced its total assets.

Ford's Brazil shutdown highlights automakers' woes with excess capacity

SAO PAULO (Reuters) - Ford Motor Co's oldest factory in Brazil, slated for closure later this year, was a giant among auto plants, occupying a sprawling 12 million square feet (111.5 hectares), bigger than many of the automaker's U.S. facilities.

Canada's Cenovus bets on rail to move crude, fearing full pipelines

WINNIPEG, Manitoba/NEW YORK (Reuters) - Cenovus Energy is pressing ahead with aggressive plans to transport more crude by rail, contrasting itself with peers who have hit the brakes, as the Canadian oil producer bets that pipeline bottlenecks are likely to return.

Jet seeks shareholders' nod for converting debt into equity

Beleaguered Jet Airways on Thursday held an Extraordinary General Meeting (EGM) to seek shareholders' approval for a Bank-led Provisional Resolution Plan (BLPRP) as part of which lenders will become the largest equity owners of the airline.

For Sainsbury and Asda, watchdog's analysis leaves merger in serious doubt

LONDON (Reuters) - Sainsbury's planned 7.3 billion pound ($9.5 billion) takeover of Walmart's Asda can only be salvaged if Britain's competition regulator fundamentally changes its analysis of Britain's grocery market, experts said on Thursday.

Weak growth spurred RBI to cut rate; MPC considered bigger cut

Weak growth impulses along with expectations of lower food and fuel prices led the Reserve Bank of India to cut its key lending rate earlier this month and change its monetary policy stance to "neutral," showed the minutes of the latest Monetary Policy Committee (MPC) meeting released here on Thursday.

Exclusive: Owners of Permian producer DoublePoint plan $5 billion sale - sources

NEW YORK (Reuters) - DoublePoint Energy's private equity owners are exploring a potential sale of the Permian Basin oil producer later this year that could value the company at as much as $5 billion, including debt, sources familiar with the matter said on Thursday.

Banks raise margin protection, headroom issues on RBI's rate cut transmission call

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday met PSU and private sector banks CEOs and MDs to discuss rate transmission and persuade them to pass on the advantages after taking note of the non-passing of the benefits of lower interest rates to the consumers following a key policy rate cut by it recently while the banks are said to have raised their concern on protecting their margins to provide for the NPAs and banking operations which may be hit if they start passing on the full rate cut to the consumers.

De Beers says lab-grown diamond wholesale prices fall by up to 60 percent

LONDON (Reuters) - Wholesale prices for lab-grown diamonds have fallen by up to 60 percent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.

Domino's hurt as delivery firms offer more choice, shares fall 10 percent

(Reuters) - Domino's Pizza Inc missed analysts' estimates for quarterly same-store sales on Thursday, sending its shares down 10 percent and underscoring pressures the company is facing from food delivery startups that are offering diners more choices.

Global Markets: U.S. stocks fall on weak economic view; oil, gold fall

NEW YORK (Reuters) - Wall Street stocks fell on Thursday due to a deteriorating economic outlook that was only partially offset by signs of trade progress between China and the United States, while gold and oil prices retreated from their recent peaks.

Exclusive: U.S., China sketch outlines of deal to end trade war - sources

WASHINGTON (Reuters) - The United States and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war, according to sources familiar with the negotiations.

OnMobile Global Limited renews its contract with Telefonica Espana

OnMobile Global Limited, a global leader in mobile entertainment, today announced the renewal of its contract with Telefónica España, S.A.U. (Telefonica) for another five years.Telefónica is one of OnMobile's largest customers. OnMobile has been providing videos, editorials, games and tones and a host of similar services to Telefonica's subscribers since 2012.The long-term contract renewal ensures continued revenue growth and is a testimony to the deep and trusted relationship that OnMobile has with Telefónica."Our strong portfolio of products and long-standing operator relationships including Telefonica has played an instrumental role in cementing our position as a global leader in mobile entertainment," said Iñaki Martín Velasco, President and Chief Operating Officer, America and Europe, OnMobile Global Limited.He added, "We strive to engage consumers in new ways by consistently providing them with future-forward products, and Telefonica has been a great partner in helping us to ...