Business & Finance News
Morgan Stanley beat estimates for quarterly profit on Tuesday as higher revenue from trading in stocks and strong equity underwriting outweighed weakness in its bond trading and advisory businesses.
Walmart Inc lowered its earnings forecast for the year on Tuesday to include the impact from its acquisition of Indian e-commerce company Flipkart, and said its e-commerce growth next year will be slower than the current fiscal year.
HSBC UK said on Tuesday some of its customers were struggling to access online banking, the second outage of the lender’s digital services in weeks.
BlackRock Inc reported a better-than-expected quarterly profit on Tuesday, as more people poured money in its low-risk funds amid heightened trade tensions between Beijing and Washington.
Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters.
The chairman of luxury company Tod’s Diego Della Valle denied speculation over the possible sale of the group, whose majority is owned by his family.
Tesla Inc Chief Executive Officer Elon Musk said a new chip that improves autopilot features would be available six months in advance to people who ordered the full self-driving version of the electric cars.
BlackRock Inc reported a 28.8 percent rise in profit on Tuesday, helped by higher demand for its low risk funds in a quarter marked by heightened trade tensions between Beijing and Washington.
A Unilever executive defended the company’s executive pay policy on Tuesday, but said the consumer goods company learned lessons from the substantial opposition the policy garnered earlier this year.
German luxury carmakers Daimler and BMW have offered concessions to address EU antitrust concerns about their plan to combine their car-sharing businesses, the European Commission said on Tuesday.
The chief executive of Swiss bank Credit Suisse will not attend a Saudi investment conference this month, a source familiar with the situation told Reuters on Tuesday.
German premium car brand Audi, a division of Volkswagen , said it was fined 800 million euros ($927 million) on Tuesday for violations tied to heavily polluting six- and eight-cylinder diesel engines.
German carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform their businesses to meet new regulations and adapt supply chains, Volkswagen’s chief executive said on Tuesday.
World stocks nudged higher on Tuesday, as focus turned to earnings season and a rebound in Italian assets helped battered equities find firmer ground for now.
U.S. President Donald Trump cannot bring oil prices down by “bullying” other nations, Iran’s oil minister said on Tuesday, adding that the market was suffering from short supply.
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