Business

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Stocks close mixed; Dow industrials end a losing streak

NEW YORK (AP) — A late round of buying erased early losses on Wall Street, leaving major indexes mixed at the close of trading. Bigger companies managed to eke out modest gains, while smaller companies mostly fell.<p>A big gain in Boeing pushed the Dow Jones industrial average higher, breaking a …

Stock Markets

Ford targets higher margins faster, to drop unpopular cars | Reuters

DETROIT (Reuters) - Ford Motor Co (F.N) on Wednesday outlined a plan to cut costs and boost profit margins at a faster pace than previously announced, which includes dropping traditional sedan models in North America that have become increasingly unpopular with consumers.<p>FILE PHOTO: A Ford worker …

Automotive Industry

Nasdaq-Listed Amazon, Alphabet Halted for the Day at NYSE

Amazon.com Inc. and Google parent Alphabet Inc. won’t trade for the rest of the day at the New York Stock Exchange, which is not a scary prospect …

Stock Markets

Consumer Bureau Looks to End Public View of Complaints Database

Financial companies have worked to diminish the Consumer Financial Protection Bureau’s powers since the day the agency was created. Now, they’re on the brink of having one of their top demands granted: an end to the regulator’s public database of complaints about their products and services.<p>Since …

Finance

Comcast's $31 Billion Bid For U.K.-Based Sky Complicates Murdoch Plans

Every time Rupert Murdoch gets closer to control of the British-based entertainment and TV giant Sky, new obstacles arise.<p>The latest challenge could shatter his plans — or make him a richer man.<p>On Wednesday, the Comcast Corporation made a formal bid to buy a majority control of Sky in a deal …

Media Industry

Subway to close about 500 U.S. restaurants, while opening 1,000-plus overseas

Subway Restaurants is planning to shutter an estimated 500 locations in the U.S.<p>The Milford, Conn.-based chain wants to focus on better restaurant locations and boosting sales, according to Bloomberg. High on its priorities list is overseas expansion.<p>The news comes a year after Subway shut down …

Profit

Workers and shareholders call GE an 'embarrassment'

General Electric was blasted on Wednesday by workers, retirees and shareholders bemoaning the downfall of the company they love.<p>At its annual meeting, GE (GE) got an earful from employees and investors who pleaded with management to right the ship after a disastrous year.<p>"I believe it was arrogance …

S&P 500

The markets can 'transcend' worries on interest rates: Neuberger Berman

Richard Nackenson of Neuberger Berman says "there's more money to be made" in certain areas of the equity space.

Interest Rates

Bill Ackman's bet against Herbalife was 'dangerous,' CNBC's Scott Wapner says

Jim Cramer and Scott Wapner discuss Wapner's new book about the epic battle between investing legends Carl Icahn and Bill Ackman.

Bill Ackman

Cramer's lightning round: Teva and U.S. Steel not strong enough. But Ball Corp is.

First quarter earnings season is now in full swing. The street is expecting a record season. CNBC's Jim Cramer helps caller quench their fears on a …

U.S. Steel

Facebook Earnings Beat Expectations

The social media network saw growth in revenue, ad revenue and daily active users, all of which seemed to indicate that the company came out of the …

Cambridge Analytica

Why Facebook Took So Long to Reveal its Content Guidelines

For years, Facebook kept its internal policy guidelines under wraps because "they didn't want people to game the system," says Axios' Sara Fischer. …

Social Media

How All-Star Athletes Manage Their Millions

<i>By Lauren Babbage</i><p>Ever wonder how the Olympic gold medalist Michael Phelps and the NBA start Steph Curry manage to turn their sports fortunes into …

NFL Draft

ConocoPhillips wins $2 billion arbitration against Venezuela

CARACAS, Venezuela — ConocoPhillips said it won a $2 billion arbitration award against Venezuela’s state oil company, compounding the financial woes of the socialist-run nation as it struggles to feed its population.<p>The award represents the equivalent of more than 20% of the cash-strapped …

Venezuela

Companies sign up to pledge to cut plastic pollution

<b>More than 40 companies have signed up to a pact to cut plastic pollution over the next seven years.</b><p>The firms, which include Coca-Cola and Asda, have promised to honour a number of pledges such as eliminating single-use packaging through better design.<p>They have joined the government, trade …

Sustainability

Samsung Tops Profit Estimates, Warns of Weak Phone Demand

Samsung Electronics Co.’s first-quarter profit exceeded analysts’ estimates on booming exports of memory chips, but warned of challenges in …

Profit

Lotte to Sell 22 Beijing Stores to Wumart Operator, Chosun Says

Lotte Group’s retail unit is selling 22 of its stores in Beijing to China-based grocer and hypermarket rival Wumei Holdings Inc. for 256 billion won …

South Korea

South Korean economy rebounds in first-quarter on exports, government spending

SEOUL (Reuters) - South Korea's economy rallied last quarter, buoyed by healthy exports and a boost from government spending, while private consumption growth remained sluggish.<p>Gross domestic product for the January-March period rose 1.1 percent, the Bank of Korea said on Thursday, rebounding after …

Economy

'Student Loan Report' Admits Its Founder And Editor Is Fake

<i>The Chronicle of Higher Education</i> reported an unusual discovery on Monday. The founder, editor and columnist of a website that bills itself as a resource for student loan news does not exist.<p><i>The Chronicle</i> was seeking information from "Drew Cloud" because reporters there were skeptical of a survey …

College & University

DeLorean widow sues for 'Back to the Future' payments

NEWARK, N.J. (AP) — The widow of maverick automaker John DeLorean has alleged in a lawsuit that a Texas company illegally received money from the "Back to the Future" movies that used his iconic car.<p>The sleek, angular car with gull-wing doors known simply as "the DeLorean," was featured in the 1985 …

New Jersey

New Chipotle CEO plans menu 'tweaks,' and maybe drive-thrus

The new CEO at Chipotle plans to make "simple menu tweaks," redesign its restaurants and expand its delivery service in the coming months.<p>Another longer-term possibility: drive-thrus, which CEO Brian Niccol said are an "interesting proposition for Chipotle."<p>Niccol didn't offer specifics on his …

E.coli

Nasdaq open to cryptocurrency exchange in future, says CEO | Reuters

(Reuters) - Nasdaq Inc (NDAQ.O) is open to launching a cryptocurrency exchange in the future as the regulatory environment evolves, the head of the exchange operator said on Wednesday.<p>FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in New York September 2, 2015. REUTERS/Brendan …

IT

Qualcomm's quarterly profit falls 51.5 percent

(Reuters) - Qualcomm Inc's (QCOM.O) quarterly profit fell 51.5 percent due to higher costs.<p>San Diego-based Qualcomm said on Wednesday net income fell to $363 million or 24 cents per share in the three months ended March 25, from $749 million or 50 cents per share a year earlier.<p>Total revenue rose …

Profit

Dangerous outbreak of E. coli illness from romaine lettuce expands, with 19 states affected

An additional 31 people have fallen ill from E. coli-contaminated romaine lettuce, bringing the tally to 84 cases across 19 states from an outbreak whose source is still under investigation.<p>Of those sickened, 42 have been hospitalized, a higher rate than usually seen in E. coli cases, and nine of …

E.coli

PayPal shares tick up after surpassing expectations for the quarter

PayPal reported its first-quarter results after the bell on Wednesday, sending shares up about 3% in after-hours trading, due to better-than-expected numbers.<p>Adjusted earnings per share were 57 cents, above analyst estimates of 54 cents. Revenue for the quarter was $3.69 billion, up 24% from last …

FinTech

U.S. regulator sues LendingClub over hidden fees

NEW YORK (Reuters) - A U.S. regulator sued online lender Lending Club Corp on Wednesday for allegedly overcharging consumers and misleading them on hidden fees.<p>The Federal Trade Commission said in a complaint filed in federal court in California that LendingClub deducted hidden fees from the loans …

Loans

Uber’s first diversity report under CEO Dara Khosrowshahi shows Uber is still mostly white and male

The company has zero Latinx or black employees in tech leadership roles, and it saw a drop in the number of black employees across the board.<p>Uber, long opposed to reporting the demographics of its employees, has released its second diversity report ever and first public report under new CEO Dara …

Employment

U.S. sanctions encourage McDonald's to cook up Russian fries | Reuters

LIPETSK, Russia (Reuters) - French fries at McDonald’s restaurants from Moscow to Murmansk will be Russian from now on, as U.S. sanctions have spurred on a shift by the American fast-food chain to use local potatoes.<p>People enter a McDonald's restaurant in Moscow, Russia April 24, 2018. Picture …

McDonald's

Entergy misses Q1 earnings number but guides full year above consensus

Entergy (ETR -1%) is lower after missing Q1 earnings expectations but guiding full-year earnings above analyst consensus.<p>ETR says it expects FY 2018 …

Investing

General Motors to add 700 workers at Tennessee factory

DETROIT (AP) — General Motors is adding a shift at a Tennessee factory that makes GMC and Cadillac SUVs, putting about 700 people to work.<p>But there may not be any new hires in Spring Hill south of Nashville. Some laid-off workers at the factory will be rehired and others furloughed from an Ohio …

General Motors

Louisiana: $1.5 billion in tax breaks for $9.4 billion plant

State and local governments in Louisiana have offered an estimated $1.5 billion in incentives to persuade a Taiwanese company to locate a $9.4 billion plastics complex along the Mississippi River upstream from New Orleans, Louisiana Economic Development Secretary Don Pierson said.<p>The package …

Taxes

Earnings Preview: What To Expect From AT&T Today

AT&T Inc. is scheduled to release earnings after Wednesday’s close. The stock hit a record high of $59.94/share in 1999 and is trading near $34/share. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the …

Time Warner

WeWork's Junk Bond Adventure Raises $18 Billion Question

The nice thing about being a venture capitalist (from a VC standpoint) is getting to decide that the startup you’re backing is worth pretty much …

Profit

Greece: Anti-austerity protesters eye post-bailout battle

Thousands of protesters took to the streets in Athens and other cities Wednesday, vowing to challenge ongoing bailout-related austerity measures after the rescue program ends in a few months.<p>Three successive demonstrations were held in Athens in opposition to the sale of power plants, planned …

Europe

Earnings Preview: What To Expect From Facebook After The Close

Facebook Inc. is scheduled to release earnings after Wednesday’s close. The stock just hit a record high of $195.32/share in February and is currently trading near $159/share. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if …

Personal Computers

Hasbro Accelerates Transformation on Earnings Miss

While the situation at Toys R Us dented its results, Hasbro is positioning itself to return to growth.<p>Going into Monday's first-quarter financial …

Markets

AP reports loss on one-time accounting charges

NEW YORK (AP) — The Associated Press lost $74 million in 2017, mostly due to one-time accounting charges related to the federal tax overhaul passed late last year.<p>Revenue fell 8 percent to $510.1 million from $556.3 million in 2016, when the company benefited from additional revenue related to U.S. …

Online

China's ZTE will take 'certain actions' against U.S. ban

(Reuters) - China's ZTE Corp said on Wednesday it planned to take "certain actions" under U.S. laws following a ban by the U.S. government on American firms doing business with the company.<p>The U.S. Commerce Department's Bureau of Industry and Security earlier this month banned American companies …

China

Alexa for kids: Amazon's new way to teach your child manners

With kid-friendly content and parental controls, the device should help keep kids safer on the internet.<p>Amazon is expanding its products to the tiniest of consumers.<p>The online retail giant unveiled a new line of products on Wednesday, including an Echo Dot Kids Edition, which includes parental …

Smart Homes

BirchBox CEO-Turned-Investor Hayley Barna Discusses Top Founder Mistakes

<i>This article originally ran in Term Sheet, Fortune’s newsletter about deals and dealmakers.</i> <i>Sign up here.</i><p>Hayley Barna co-founded beauty cosmetics …

Venture Capital

Strong travel demand lifts Boeing in first quarter

DALLAS (AP) — The desire by people to see the world is giving Boeing a huge lift, and executives at the aircraft maker say travel is a long-term growth industry.<p>After all, they reason, only about one in five people has ever flown on a plane, so there is plenty of upside to keep building …

Aviation

GlaxoSmithKline reports Q1 results

GlaxoSmithKline (NYSE:GSK): Q1 EPS of 24.6p<p>Revenue of £7.22B (-2.2% Y/Y)<p>Shares -1.18% PM.<p>Press Release<p>Now read: <b>Adjusted Price Targets For This</b> …

GlaxoSmithKline

Northrop posts Q1 beat, ups guidance

Net earnings increased 14% to $739M, or $4.21 per diluted share vs. $650M, or $3.69 per diluted share in the prior year period.<p>Sales by segment: …

Investing