George El

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Swiss Franc, Scandinavian Currencies Most Exposed to Trade War

The Swiss franc and Scandinavian currencies are among the most vulnerable to the escalating trade war between the U.S. and China.<p>The franc, Danish …

Economics

Netflix Plunges After Posting Disappointing Subscriber Growth – Bloomberg

Netflix Plunges After Posting Disappointing Subscriber Growth<p>Netflix Plunges After Posting Disappointing Subscriber Growth<p>Netflix Plunges After …

Stock Markets

The World's Biggest Miners Want More Copper But Nobody's Selling

It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger.<p>The largest …

Stock Markets

Kuwait Bank Seeks Talks to Create Islamic Lender With $92 Billion in Assets

Kuwait Finance House KSCP wants to hold renewed talks with Bahrain’s Ahli United Bank BSC about a takeover, a potential boost to the island kingdom …

Abu Dhabi

Target and Other Retailers Take On Amazon Prime Day

The annual Amazon Prime Day sale is kicking off for Prime members on Monday, with “more than one million deals” on products over the course of the …

eCommerce

Australia’s central bank leaves rates unchanged at 1.5% | Financial Times

Australia’s central bank held interest rates steady at its policy meeting on Tuesday, in line with expectations.<p>The Reserve Bank of Australia kept …

Central Banks

Instagram Is Estimated to Be Worth More than $100 Billion

Facebook Inc.’s Instagram is estimated to be worth more than $100 billion, if it were a stand-alone company, marking a 100-fold return for the app …

Social Media

Wabash National: Impressive Q1 2018 Results But The Margins Were Nothing To Brag About

Wabash National (WNC) has been a top-performer for the <b>R.I.P. Portfolio</b> over the last few years but, more recently, WNC shares have underperformed the …

Dollar treads water; rally loses steam as U.S. yields sag | Reuters

TOKYO (Reuters) - The dollar held steady on Monday, its recent rally running out of steam on the back of sagging U.S. yields as investors wound back expectations that the Federal Reserve will launch a series of quick rate hikes.<p>The employee of a currency exchange shop shows U.S. dollar banknotes …

Arm profits halve under Softbank ownship

British chip designer Arm has seen its annual profits almost halve under Japanese ownership following a wave of expansion under the telecoms giant Softbank Group.<p>Cambridge-headquartered Arm reported profits after adjustments of £325m, down from £604m last year as the company increased headcount and …

Xerox, Under Activists’ Pressure, Calls Off Merger With Fujifilm

Xerox said on Sunday that it was calling off its merger deal with Fujifilm of Japan, after reaching a settlement with the shareholder activist Carl Icahn and another major investor who sharply opposed the deal.<p>In recent weeks, it had become increasingly clear that the deal was in jeopardy. Under …

IT

Oil pops above $70 for first time since 2014

Rising oil prices just passed another milestone.<p>US benchmark crude closed above $70 per barrel on Monday for the first time since November 2014.<p>Oil prices have been climbing partly because of expectations that President Donald Trump will abandon the 2015 Iran nuclear deal, which allowed Iran to …

Oil

South Korea's April exports unexpectedly fall for first time in 18 months | Reuters

SEOUL(Reuters) - South Korean exports declined in April for the first time in 18 months, unable to keep up with 2017’s brisk pace as global demand softened, adding to worries about the country’s trade outlook amid the risk of a deepening U.S-China trade conflict.<p>Shipping containers are seen at the …

Economy

Australia's central bank sees faster growth, slow inflation as rates sit still | Reuters

SYDNEY (Reuters) - Australia’s central bank left interest rates at historic lows on Tuesday, predicting inflation would remain muted even as the economy gained speed this year in a clear sign a hike was still a distant prospect.<p>Two women walk next to the Reserve Bank of Australia headquarters in …

Economics

BP profit surge 71 percent on higher oil prices and output

© Reuters. Logo of BP is seen at a petrol station in Kloten<p>By Ron Bousso<p>LONDON (Reuters) - BP (LON:BP) reported a 71 percent jump in profit in the …

McDonald's raises prices and still posts stellar sales

McDonald's is raising prices, and it's not scaring off fans of the Big Mac.<p>More customers showed up at the Golden Arches for the fifth quarter in a row. Demand was strong in the United States, Europe and China.<p>Shares of McDonald's (MCD) rose 5% in early trading Monday on the news. The company has …

McDonald's

Scotland tackles alcohol crisis with minimum price law

EDINBURGH, Scotland — The land of whisky is trying to kick its alcohol problem.<p>Scotland became the first country to impose minimum prices on booze when a new law took effect Tuesday.<p>The measure aims to save lives by dealing with what First Minister Nicola Sturgeon has called the nation's “unhealthy …

Alcohol

Health insurer Aetna swings to a first-quarter profit

Aetna made $1.21 billion and beat Wall Street earnings expectations in the first quarter, as the health insurer moved closer to sealing its roughly $69 billion combination with CVS Health.<p>The nation's third largest insurer said Tuesday that it swung to a profit after booking a loss in the first …

Tapestry 3Q results top Street, Stuart Weitzman stumbles

Tapestry had a stronger third-quarter than many industry analysts had expected, but a weak showing from its Stuart Weitzman shoe brand dragged shares of the company down sharply before the opening bell.<p>For the period ended March 31, Tapestry Inc. earned $140.3 million, or 48 cents per share. A year …

Carlsberg misses on revenue

Carlsberg (OTCPK:CABGY): Q1 Revenue of DKK12.7B (-5.4% Y/Y) misses by DKK 90M.<p>Total volume remained flat at 27.2M HL.<p>Press Release<p>Now read: <b>Carlsberg</b> …

Pound Bear Targets Slide to $1.32 as BOE's Hiking Window Closes

The pound has gone from currency market darling to pariah over the past month, but things could be about to get worse.<p>Banco Santander SA expects the …

Freddie Mac reports Q1 results

Nissan sales plunge, Ford, others also down in April as auto industry cools off

Most major automakers reported sales declines in April as the industry continued to cool off from a record pace set in 2016.<p>Edmunds.com projected an overall sales slump of 6%, while Cox Automotive predicted a decline of 3.6%.<p>Still, shoppers bought new vehicles at a healthy clip, with economic …

Boeing buys parts maker for $4 billion

Not satisfied with just building planes, Boeing wants to increase its share of the lucrative after-sales aircraft service business. The company sees …

U.S. April auto sales show lackluster start to spring | Reuters

DETROIT (Reuters) - Most major automakers on Tuesday posted lower new U.S. vehicle sales for April as consumer demand continued to weaken and competition intensified following a lengthy boom for the industry.<p>According to Autodata, the seasonally adjusted annual rate of sales for April hit 17.15 …

Nissan Shocks With 28% Sales Plunge

Nissan Motor Co.’s U.S. sales plunged last month, shocking some analysts and dragging on what was otherwise a strong April for auto demand.<p>The …

Hasbro buying Power Rangers, other brands in $522M deal

PAWTUCKET, R.I. (AP) — Hasbro is buying the Power Rangers and some other toy brands from Saban Properties in a cash-and-stock deal valued at $522 million.<p>The announcement comes after Saban Brands picked Hasbro Inc. as the master toy licensee for the Power Ranger line in February. The approximately …

Pfizer's 1Q profit up 14 pct., sales just miss expectations

Pfizer posted slightly higher sales and a 14 percent jump in profit in the first quarter, thanks to lower restructuring costs and a much-lower tax rate, but its revenue still missed Wall Street expectations.<p>The maker of pain medicine Lyrica and the blockbuster Prevnar 13 vaccine against …

China Is Weakening Its Currency Before U.S. Trade Talks Begin

China weakened its daily currency fixing by more than traders and analysts had expected before high-ranking U.S. officials arrive in the country to …

China April factory growth edges up marginally, export orders shrink: Caixin PMI | Reuters

BEIJING, (Reuters) - Growth in China’s manufacturing sector unexpectedly picked up in April as output quickened slightly, a private survey showed on Wednesday, though a decline in export orders reinforced risks to the outlook as firms continued to shed staff while inventories also rose.<p>FILE PHOTO: …

Economy