Business News
U.S. regulator stands by decision barring Winklevoss bitcoin ETF
The U.S. Securities and Exchange Commission on Thursday stood by a decision to block an exchange-traded fund (ETF) that would have tracked bitcoin.
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Trade deal with EU trade greater in scope than expected – U.S. official
The U.S. administration got more out of a trade deal with the European Union than it had expected and the two will work together to deal with China’s market abuses, a top White House official told Reuters on Thursday. President Donald Trump and Jean-Claude Juncker, president of the European Commission, the EU’s executive body, struck a surprise deal on Wednesday that ended the risk of an immediate trade war between the two powers. Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers. …read more […]
Business News
Facebook sends Nasdaq tumbling, but trade optimism boosts Dow
A plunge in Facebook Inc’s shares pushed the Nasdaq down more than 1 percent on Thursday, the index’s biggest one-day drop in a month, but industrial stocks rose after the United States and the European Union said they would negotiate on trade.
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Intel’s data center business falls short, shares slip
Sales to data centers that power mobile and web apps, which bring more profit than chips for personal computers, rose 26.9 percent to $5.55 billion in the second quarter ended June 30. Intel has been increasingly catering to data centers as revenue from PCs has flattened since shipments peaked in 2011. AMD, which has been gaining ground with its new server chips, beat estimates for quarterly profit and revenue on Wednesday, powered by its EPYC server processors. …read more […]
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Amazon beats estimates, Wall Street breathes sigh of relief
SAN FRANCISCO/NEW YORK (Reuters) – Wall St breathed a sigh of relief on Thursday after Amazon.com’s quarterly results beat estimates, sending the online retailer’s stock to a record high and alleviating fears of deepening troubles across the FANG group after Facebook’s results sent its shares reeling. A 19 percent plunge in Facebook shares rattled Amazon.com investors earlier in the day, with traders in Amazon’s options displaying heightened defensiveness ahead of its June-quarter report after the bell. Facebook late on Wednesday warned about a margin hit as revenue growth slows and user privacy costs climb. …read more […]
Business News
Trade deal with EU trade greater in scope than expected: U.S. official
The U.S. administration got more out of a trade deal with the European Union than it had expected and the two will work together to deal with China’s market abuses, a top White House official told Reuters on Thursday.
Business News
Amgen CEO says will not raise drug prices again this year
Amgen Inc Chief Executive Robert Bradway said on Thursday that the biotechnology company will not raise drug prices for the remainder of the year.
Business News
Amazon beats estimates, and Wall St. breathes a sigh
Wall Street breathed a sigh of relief on Thursday after Amazon.com’s quarterly results beat estimates, sending the online retailer’s stock higher and alleviating fears of deepening troubles across the FANG group after Facebook’s results sent its shares reeling.
Business News
Amazon earnings skyrocket on cloud computing, advertising
Amazon.com Inc posted a profit that was double Wall Street targets on Thursday and forecast a strong pre-holiday quarter thanks to the retailer’s newer high-earning businesses including cloud computing and advertising.
Business News
Fonterra Chairman resigns on health concerns
Milk producer Fonterra said on Friday Chairman John Wilson has resigned from his position with immediate effect over concerns regarding his health.
Business News
Amgen quarterly profit beats Wall Street view on new product sales
Amgen Inc on Thursday reported a better-than-expected second quarter profit and raised its full-year forecast, as growth of newer drugs like cholesterol fighter Repatha and osteoporosis drug Prolia offset weakness in older products.
Business News
Intel’s data center business misses estimates, shares fall
Intel Corp missed analysts’ estimates for its closely watched data center business on Thursday as it faced stiff competition from rival Advanced Micro Devices Inc , sending its shares down 3 percent in extended trading.
Business News
Starbucks reports cooling quarterly growth and pares outlook
Starbucks Corp lowered its guidance for full year same-store sales growth on Thursday, saying it now sees growth just below its previous target range.
Business News
Global stocks fail to hold four-month peak as Facebook plunges
World stock markets failed to hold onto four-month highs on Thursday as a record sell-off in Facebook shares offset optimism that the European Union and the United States would settle their differences on trade.
Business News
Chipotle’s price hikes, queso cheese boost sales past estimates
Chipotle Mexican Grill Inc topped analysts’ estimates for comparable-restaurant sales on Thursday, boosted by higher menu prices and demand for its queso cheese dip in its first full quarter under Chief Executive Officer Brian Niccol.