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Updated: 2 hours 4 min ago

Trade, inventories power U.S. economy to 3.2 percent growth in first quarter

2 hours 17 min ago
U.S. economic growth accelerated in the first quarter, but the burst in growth was driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, temporary factors that are likely to reverse in the coming quarters.
Categories: Financial Media

Wall Street set for flat open after mixed results, GDP data

2 hours 17 min ago
U.S. stocks were set to open little changed on Friday following a mixed batch of earnings, while investors assessed data that showed U.S. growth was boosted by temporary factors in the first quarter.
Categories: Financial Media

Slack posts $140.7 million loss in FY 2019 as it prepares to go public

2 hours 20 min ago
Slack Technologies Inc, operator of the popular workplace instant-messaging app, reported a loss of $140.7 million in the fiscal year ended Jan. 31, 2019, the company said on Friday in a regulatory filing ahead of its planned public market debut.
Categories: Financial Media

ADM considers ethanol spinoff as first-quarter profit falls on severe weather

2 hours 23 min ago
Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant's profit, which tumbled 41 percent in the first quarter.
Categories: Financial Media

U.S. April auto sales seen falling as higher prices keep away young buyers: J.D. Power, LMC Automotive

2 hours 25 min ago
U.S. auto sales are expected to drop about 3.5 percent in April from a year-ago period, as rising prices and reduced incentives pinch buyers at the lower end of the spectrum, according to industry consultants J.D. Power and LMC Automotive.
Categories: Financial Media

Credit Suisse shareholders back 2018 compensation report

2 hours 27 min ago
Shareholders approved Credit Suisse's 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.
Categories: Financial Media

Exxon Mobil's first-quarter profit misses estimates on lower oil, gas prices

2 hours 35 min ago
Exxon Mobil Corp reported on Friday a 49 percent fall in first-quarter profit on lower oil and gas prices and weakness across its businesses that offset modest production gains, it said on Friday.
Categories: Financial Media

American Airlines to take $350 million hit from 737 MAX groundings, shares fall

2 hours 38 min ago
American Airlines Group Inc cut its 2019 profit forecast on Friday, saying it expected to take a $350 million hit from the grounding of Boeing's 737 MAX planes, a situation that cuts revenue while many costs remain in place.
Categories: Financial Media

Uber sets terms for IPO, posts $1 billion first-quarter loss

2 hours 44 min ago
Ride-hailing company Uber Technologies Inc is aiming for a valuation of up to $91.5 billion in its initial public offering, potentially the largest U.S. listing in years and a test of investor appetite for a high-growth but highly unprofitable business.
Categories: Financial Media

Activist investor Bramson may get bloody nose at Barclays AGM

2 hours 46 min ago
Activist investor Edward Bramson is likely to fail in his attempt to get a board seat at Barclays' annual meeting next week, even though shareholders are dissatisfied with performance of the group's investment bank.
Categories: Financial Media

Chevron posts 27 percent fall in quarterly profit

2 hours 53 min ago
U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.
Categories: Financial Media

DoJ opens probe into Ford's emissions certification process

2 hours 55 min ago
Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker's emissions certification process in the United States.
Categories: Financial Media

Britain must get to bottom of Huawei leak: UK finance minister

3 hours 33 min ago
Britain must get to the bottom of the leak of confidential discussions during a top-level security meeting about the role of China's Huawei Technologies in 5G network supply chains, British finance minister Philip Hammond said on Friday.
Categories: Financial Media

Dollar off two-year highs ahead of U.S. GDP, shares subdued

4 hours 3 min ago
The dollar slipped from 23-month highs on Friday ahead of keenly awaited U.S. gross domestic product data for the first quarter, while global shares were on track for a fifth successive weekly gain despite subdued trade.
Categories: Financial Media

Newer drugs fuel AstraZeneca quarterly sales beat

4 hours 58 min ago
AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.
Categories: Financial Media

Europe wants to sign Belt and Road MOU as a group: German minister

5 hours 17 min ago
Major European Union countries want to sign a memorandum of understanding on China's Belt and Road initiative as a group and not as individual states, German Economy Minister Peter Altmaier said on Friday.
Categories: Financial Media

'Bonanza time': Foreign carriers savor rising India demand as Jet Airways crumbles

5 hours 29 min ago
The grounding of India's Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation's biggest airline.
Categories: Financial Media

Britain calls China's Belt and Road Initiative a 'vision'

6 hours 3 min ago
Britain is committed to help realize the potential of China's Belt and Road Initiative (BRI), British finance minister Philip Hammond said on Friday, describing the policy as a "vision".
Categories: Financial Media

Dollar dips ahead of U.S. GDP print, shares subdued

6 hours 45 min ago
The dollar retreated from 23-month highs on Friday ahead of keenly awaited U.S. gross domestic product data for the first quarter, while global shares were on track for a fifth weekly gain in a row despite subdued trade.
Categories: Financial Media

Ad group WPP hit by client losses in North America

7 hours 13 min ago
The world's biggest advertising company WPP suffered a sharp drop in first-quarter underlying sales in North America as the loss of work from clients such as Ford took a toll on its most important market.
Categories: Financial Media

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