Category | Business

Mars to raise chocolate prices 7 percent, following Hershey

Posted on 23 July 2014

NEW YORK (Reuters) – Mars Chocolate North America said on Wednesday that it will raise its prices by an average of 7 percent “to offset rising costs,” marking its first increase in three years.

Qualcomm posts higher quarterly results, outlook weighs

Posted on 23 July 2014

SAN FRANCISCO (Reuters) – Leading mobile chipmaker Qualcomm Inc posted higher fiscal third-quarter results, but its revenue outlook for the September quarter was below Wall Street’s expectations, depressing its stock price.

Facebook second-quarter revenue increases 61 percent

Posted on 23 July 2014

SAN FRANCISCO (Reuters) – Facebook Inc increased its revenue 61 percent in the second quarter, beating Wall Street’s target as the Internet company benefited from strong demand for its mobile advertising business.

AT&T falls short of revenue estimates, sees record low churn

Posted on 23 July 2014

WASHINGTON (Reuters) – AT&T Inc said on Wednesday its quarterly revenue rose, but slightly less than Wall Street forecasts, as a popular offering to bill customers for devices separately from their wireless plans drew in the most contract subscribers in five years.



Ex-Jefferies trader sentenced to two years in prison in fraud case

Posted on 23 July 2014

NEW HAVEN Conn. (Reuters) – A former Jefferies Group Inc managing director convicted of defrauding investors who traded mortgage bonds through a government program established in response to the 2008 financial crisis was sentenced on Wednesday to two y…

GM recalls 717,950 vehicles in U.S., not for ignition switches

Posted on 23 July 2014

DETROIT (Reuters) – General Motors Co on Wednesday announced six recalls covering 717,950 vehicles in the United States for varying reasons.

No new ‘Bond King’ for Pimco when Gross reign ends

Posted on 23 July 2014

FRANKFURT (Reuters) – When Bill Gross eventually retires as chief investment officer of California-based asset manager Pimco, his “Bond King” crown will go with him.

Opel Vauxhall says developing new version of Ampera electric car

Posted on 23 July 2014

FRANKFURT (Reuters) – General Motors unit Opel said it is working on a successor model to its Ampera, a battery-powered electric car which hit European showrooms in 2011.

UK fraud office liaising with China on GSK bribery case

Posted on 23 July 2014

LONDON (Reuters) – Britain’s fraud office is working with authorities in China in a first for such Anglo-Chinese cooperation as it carries out its own investigation into alleged corruption at drugmaker GlaxoSmithKline .

Goldman Sachs says BES investment was on behalf of clients

Posted on 23 July 2014

LISBON (Reuters) – Goldman Sachs’s 2.27 percent interest in Portugal’s Banco Espirito Santo was acquired on behalf of clients, the U.S. investment bank said in a statement on Wednesday afternoon.

IMF snips U.S. 2014 growth forecast to 1.7 percent

Posted on 23 July 2014

WASHINGTON (Reuters) – The International Monetary Fund on Wednesday said it expects the U.S. economy to grow even more slowly this year than it predicted a month ago due to weakness in the first quarter.

Argentina, bondholder talks with mediator set for Wednesday postponed

Posted on 23 July 2014

NEW YORK (Reuters) – Settlement talks set for Wednesday between Argentina and bondholders who did not participate in the country’s past debt restructuring have been postponed, the court-appointed mediator said.

Apple margin concerns fade, focus shifts to iPhone launch

Posted on 23 July 2014

(Reuters) – A rise in margins has raised hopes that Apple Inc may be able to hold the line on pricing ahead of the launch of new iPhones later this year.

Stock futures tick up on earnings, world conflicts eyed

Posted on 23 July 2014

NEW YORK (Reuters) – U.S. stock index futures edged up on Wednesday, boosted by bullish earnings from companies like Microsoft and Boeing, though conflicts in Ukraine and the Gaza Strip weighed on investor confidence.

Japan readies fuel cell subsidies in bet on Toyota’s next big thing

Posted on 23 July 2014

TOKYO (Reuters) – Japan is readying subsidies to help Toyota Motor Corp and key suppliers take the lead in hydrogen-powered fuel cell vehicles that could top $400 million over the next several years if the most bullish projections for the technology pl…

Delta Air quarterly profit rises, aided by U.S. demand

Posted on 23 July 2014

(Reuters) – Delta Air Lines on Wednesday posted a higher quarterly profit as it flew fuller planes and had revenue increases in the United States and Europe.

Boeing profit gets boost from increased deliveries

Posted on 23 July 2014

(Reuters) – Boeing Co reported a 52 percent increase in quarterly profit, helped by a rise in commercial aircraft deliveries.

GSK cuts outlook as weak lung drug sales and strong pound hit

Posted on 23 July 2014

LONDON (Reuters) – GlaxoSmithKline cut its 2014 outlook after sales fell by a worse-than-expected 13 percent in the second quarter as its all-important lung drugs struggled in the United States and a strong pound took a bite out of growth.

PepsiCo quarterly profit falls 2 percent

Posted on 23 July 2014

(Reuters) – PepsiCo Inc reported a 2 percent fall in second-quarter profit as carbonated soft drink volumes declined 2 percent in North America.

Whirlpool posts lower profit, cuts outlook on acquisition expenses

Posted on 23 July 2014

(Reuters) – Whirlpool Corp on Wednesday reported a lower quarterly profit as sales fell in every region except North America. The company also cut its full-year earnings outlook, citing expenses from two pending acquisitions.

Fiat CEO says tie-up with Volkswagen was never on agenda

Posted on 23 July 2014

TURIN Italy (Reuters) – The chief executive of Fiat Chrysler on Wednesday quashed all speculation of a possible tie-up with Germany’s Volkswagen saying the idea had never been on the agenda.

NY Fed found serious problems at Deutsche Bank’s U.S. arms: source

Posted on 23 July 2014

FRANKFURT, (Reuters) – The Federal Reserve Bank of New York has found serious problems in Deutsche Bank’s U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, a person close to the matter told Re…

Wall Street rejects Ackman’s Herbalife ‘death blow’

Posted on 23 July 2014

NEW YORK (Reuters) – Billionaire investor William Ackman’s latest volley of accusations against Herbalife Ltd on Tuesday missed its mark on Wall Street, with investors sending the stock price soaring 25 percent.

Watch what markets don’t do as world politics turns nasty

Posted on 23 July 2014

LONDON (Reuters) – Like so much in the investment world of late, it’s what financial markets are not doing right now that is most intriguing.

U.S., European airlines halt flights to Israel due to instability

Posted on 23 July 2014

(Reuters) – Air carriers in the United States and Europe on Tuesday halted flights to Tel Aviv after warnings from governmental agencies in an effort to ensure passenger safety as turmoil in Israel and the region intensified.