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Stocks are getting smoked, and companies can't step in to stop it
Stocks were selling off hard on Tuesday as the market lost steam steadily throughout the trading day. …read more […]
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United Airlines CEO forgoes 2017 bonus, board chairman to step down
NEW YORK (Reuters) – United Airlines’ chief executive decided to do without his 2017 annual bonus and the carrier’s board chairman will step down, United said in a regulatory filing on Monday, amid ongoing fallout surrounding its customer-service failures.
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Wall St sunk by corporate cost warnings, bond nerves
Google-parent Alphabet (GOOGL.O) sank 4.9 percent, erasing all its gains for the year, as investors focused on the company’s rising expenses and shrinking margins rather than a profit beat. Caterpillar (CAT.N) sank 6.6 percent after it warned of the impact of steel price hikes on its business. The stock had gained as much as 4.6 percent earlier on a strong set of quarterly results and full-year outlook. …read more […]
Business News
Wall Street sunk by corporate cost warnings, bond nerves
(Reuters) – Wall Street dropped sharply on Tuesday as concerns over marquee companies warning of higher costs were exacerbated by the benchmark U.S. 10-year Treasury yield piercing the 3-percent level for the first time in four years.
Business News
Protesters greet Amazon’s Jeff Bezos in Germany
BERLIN (Reuters) – Hundreds of Amazon workers blew whistles and banged drums on Tuesday to protest against the presentation of a German award to Jeff Bezos, the ecommerce firm’s chief executive.
Business News
Bitcoin climbs to six-week high as market sentiment improves
NEW YORK (Reuters) – Bitcoin rose to a six-week high on Tuesday on positive headlines that included the possible entry of major financial institutions into the space, lifting sentiment on the overall cryptocurrency market.
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iOS 11.3.1 fixes unresponsive third-party iPhone 8 displays
Apple has just released iOS 11.3.1, which promises to fix a bug affecting …read more […]
Business News
U.S. consumer confidence, housing data highlight economy’s strength
WASHINGTON (Reuters) – U.S. consumer confidence rebounded in April and new home sales increased more than expected in March, pointing to underlying strength in the economy despite signs that growth slowed in the first quarter.
Business News
Express Scripts targets Amgen, Lilly migraine drugs in pricing shift
LOS ANGELES (Reuters) – The largest U.S. manager of prescription benefits is telling drugmakers that the current pricing model is broken, and taking aim at Amgen Inc , Eli Lilly and Co and other makers of new migraine medicines to try and fix it.
Business News
Herbalife prepared secret report to get into Ackman’s thinking: book
NEW YORK (Reuters) – Herbalife Ltd. commissioned a secret report to understand what made activist investor William Ackman tick as he accused the company of being a fraud and bet its share price would collapse to zero, a new book shows.
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Google-owner Alphabet’s shares fall on rise in costs
(Reuters) – Shares of Google parent Alphabet Inc lost more than 5 percent on Tuesday as a surge in costs drove what analysts said was its biggest ever contraction in gross margins, overshadowing strong first-quarter ad sales.
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Trump says new NAFTA deal could be completed quickly
WASHINGTON (Reuters) – U.S. President Donald Trump said on Tuesday that a new NAFTA trade deal could be completed quickly, as ministers from Canada, Mexico and the United States prepared to meet later in the day to try to work out their differences and hash out an agreement.
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Audi recalling 1.16 million vehicles worldwide over coolant pump issue
WASHINGTON (Reuters) – Volkswagen AG’s luxury unit Audi said on Tuesday that it was recalling 1.16 million vehicles worldwide because of concerns that an electric coolant pump could overheat or short-circuit from moisture within the pump and pose a fire risk.
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Citi chairman says all options on table to find his replacement
CHICAGO (Reuters) – Citigroup Inc Chairman Mike O’Neill said all options were being considered to find a successor to replace him when he steps down in the next 12 months, after reaching the retirement age of 72.
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Coke warns of pain from UK sugar tax, U.S. freight costs
(Reuters) – Coca-Cola Co said on Tuesday it would take a hit in the second quarter from the introduction of a British sugar tax on soft drinks and rising freight costs in the United States, overshadowing modestly better than forecast results for the first three months of 2018.