Business News
China’s Baidu posts 24.4 percent rise in quarterly revenue
China’s Baidu Inc reported a 24.4 percent rise in quarterly revenue on Tuesday, driven by gains in the internet search firm’s online ad business.
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Business News
Thyssenkrupp investor Elliott says divisions should have more say
Activist investor Elliott wants Thyssenkrupp to give its business divisions more autonomy to pursue promising ventures, an Elliott executive told German daily Die Welt, following a leadership crisis at the German engineering group.
Business News
Apple’s pricey iPhone X, subscriptions deliver earnings beat
Apple Inc sales led by the pricey iPhone X pushed quarterly results far beyond Wall Street targets on Tuesday, with subscriptions from App Store, Apple Music and iCloud services bolstering business.
Business News
Credit Suisse charged with rigging foreign exchange rates
Credit Suisse has been charged by European Union antitrust regulators with rigging foreign exchange rates, the Swiss bank said on Tuesday, a sign that the five-year long EU investigation may reach a conclusion in the coming months.
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White House Distances Itself from Big Tax Cut for the Wealthy
The New York Times reported Monday that the Trump administration was considering bypassing Congress to enact another big tax cut that would mainly benefit the wealthy. Mnuchin told the Times’ Alan Rappeport and Jim Tankersley earlier this month that his department was trying to determine if it has the legal authority to make such a change in the absence of legislation from Congress, and the White House confirmed Tuesday that the analysis continues. …read more […]
Business News
GE wins $631 million U.S. defense contract: Pentagon
General Electric Co has been awarded a $631 million contract for repair, replacement and program support of engine components used on the F/A-18 E/F and EA 18G aircraft, the Pentagon said in a statement on Tuesday.
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Fiserv (FISV) Q2 Earnings and Revenues Top Estimates
Fiserv (FISV) delivered earnings and revenue surprises of 1.35% and 0.15%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock? …read more […]
Business News
NBA strikes sports betting deal with MGM as official partner
The National Basketball Association on Tuesday announced its first-ever official sports betting partner, MGM Resorts International , with the league agreeing to sell its official game data to the casino operator for undisclosed terms.
Business News
Sanofi has been stockpiling drugs for no-deal Brexit: WSJ
French drugmaker Sanofi has been making drug-shortage contingency plans for more than a year to prepare for Britain and the European Union failing to reach a Brexit transition deal, the Wall Street Journal reported on Tuesday, citing a source.
Business News
Wall St. bounces back, led by industrials
U.S. stocks rebounded on Tuesday, boosted by gains in industrial shares following reports of renewed trade negotiations between the United States and China.
Business News
Apple earnings beat expectations as it sells pricier iPhones
Apple Inc on Tuesday posted quarterly results that topped Wall Street targets and forecast revenue in the current quarter above expectations, driven by sales of higher-priced iPhones and revenue from services like the App Store, Apple Music and iCloud.
Business News
Mexico says dispute resolution, autos and sunset clause key to NAFTA deal
Mexico’s economy minister said on Tuesday that among the top issues to resolve in order to reach an agreement on a new NAFTA trade deal are dispute resolution, auto sector rules and the so-called “sunset clause.”
Business News
Devon reports quarterly loss compared with year-ago profit
U.S. oil producer Devon Energy Corp reported a quarterly loss compared with year-ago profit on Tuesday, hurt by higher expenses and a strong dollar.
Business News
Wall St. rebounds, led by industrials; S&P has best month since January
U.S. stocks rebounded on Tuesday, led by gains in industrial shares following reports of renewed trade negotiations between the United States and China.
Business News
Mexico president-elect Lopez Obrador sees NAFTA deal soon
Mexican presidential winner Andres Manuel Lopez Obrador said on Tuesday that he expected there would be an agreement in the renegotiation of the North American Free Trade Agreement (NAFTA) in the coming days.