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BNY Mellon profit falls 20 percent on lower fee revenue
Bank of New York Mellon Corp reported a 20 percent fall in quarterly profit on Wednesday, as the world’s largest custodian bank’s fee revenue declined.
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Business News
PepsiCo sales beats on boost from snacks, beverages
PepsiCo Inc beat Wall Street estimates for sales and profit on Wednesday, boosted by higher demand for its snacks, low-sugar sodas and other beverages across its major markets, sending its shares up about 2 percent before the bell.
Business News
Chief executive of China’s JD.com back in spotlight over civil suit accusation of rape
The personal life of JD.com chief Richard Liu returned to the spotlight of China’s social media on Wednesday, drawing 360 million views to briefly become the top trending item on the Twitter-like Weibo, after a civil lawsuit accused him of rape.
Business News
EU issues $20 billion list of U.S. imports for tariffs in Boeing case
The European Commission published on Wednesday a list of $20 billion worth of U.S. imports it could hit with tariffs in a transatlantic aircraft subsidy dispute.
Business News
U.S. restrictions on Qatar Airways could lead to unraveling of aviation agreements: airlines
The U.S. government should not restrict Qatar Airways or Air Italy from flying to the United States because it may lead to the unraveling of other aviation agreements around the world, three U.S. airlines said in a letter to officials on Wednesday.
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Foxconn’s Gou throws hat in ring for Taiwan presidency, with blessing of sea goddess
Terry Gou, chairman of Apple supplier Foxconn, said on Wednesday he will contest Taiwan’s 2020 presidential election, shaking up the political landscape at a time of heightened tension between the self-ruled island and Beijing.
Business News
Oil hits 2019 high above $72 on China growth, lower U.S. inventories
Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signaled firm demand, while global supply remained tight.
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U.S. firms no longer ‘positive anchor’ for Beijing ties: AmCham in China
Frustrated U.S. businesses can no longer be counted on as a “positive anchor” in U.S.-China relations, a top U.S. business lobby said on Wednesday, arguing any deal to end trade tensions must address structural problems in China’s economic system.
Business News
EU banking watchdog ends probe of Estonian, Danish regulators over Danske Bank
The EU banking watchdog has closed an investigation of financial regulators in Estonia and Denmark in relation to suspected money laundering activities by Danske Bank after it did not find any breach of EU law, the Estonian FSA said on Wednesday.
Business News
Swiss drugmaker Roche ups outlook as sales growth offsets price hit
Swiss drugmaker Roche lifted its 2019 outlook on Wednesday, as sales growth in China and the United States outpaced price declines it has suffered amid President Donald Trump’s pressure on the industry to hold down charges.
Business News
Foxconn’s Gou in bid for Taiwan presidency, with blessing of sea goddess
Terry Gou, chairman of Apple supplier Foxconn, said on Wednesday he will contest Taiwan’s 2020 presidential election, shaking up the political landscape at a time of heightened tension between the self-ruled island and Beijing.
Business News
Asia comforted by China data, Europe uninspired
World stocks inched higher after a raft of Chinese data beat expectations on Wednesday and though benchmark bond yields and the Aussie dollar did the same, Europe struggled to join in.
Business News
Ericsson shares hit four-year high after profit tops forecasts for fifth quarter
Ericsson posted a first-quarter profit on Wednesday that swept past forecasts due to strong growth in North America and cost cuts, spurring the telecom equipment maker to boost its full-year outlook for the global networks market.
Business News
Bill Browder files Swedbank money laundering complaint in Latvia
Bill Browder, an investor who campaigns to expose corruption, has taken a criminal complaint against Swedbank to Latvian authorities, alleging it was involved in a Russian money laundering scandal.
Business News
ABB seeks new chief executive after Spiesshofer’s surprise departure
ABB Chief Executive Ulrich Spiesshofer has quit the Swiss engineering group in a surprise move for a company which is in the midst of a strategic overhaul to focus more on digital industries.