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Canada’s Hudson’s Bay makes takeover approach for Macy’s: sources
While the Toronto-based company faces major financing and operating challenges in completing a deal to buy Macy's, which is trying to overhaul its operations, it could use its existing foothold in the U.S. to save on administrative Here is the original: Canada’s Hudson’s Bay makes takeover approach for Macy’s: sources Read More →
Oil prices steady after sharp rise in U.S. stockpiles
Oil prices steadied on Thursday after a sharp rise in U.S. crude and gasoline stockpiles, although evidence that OPEC and other big exporters were cutting production helped support sentiment. Brent crude was up 5 cents at $56.85 a Read the rest here: Oil prices steady after sharp rise in U.S. stockpiles Read More →
Exxon boosts capital budget but takes $2 billion charge from XTO deal
Exxon Mobil Corp boosted its 2017 capital budget on Tuesday on a bet that oil prices have stabilized, but posted its lowest quarterly profit since 1999 as it took a $2 billion charge against the value of natural gas reserves from its buyout of XTO Energy. The world's largest publicly traded oil producer wrote down the book value of part of its North American natural gas and crude reserves, some... [Read more]
Fed likely to keep rates steady as it awaits Trump economic plan
By Lindsay Dunsmuir WASHINGTON (Reuters) – The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies. Trump has promised a large infrastructure spending program, tax cuts, a rollback of regulations and a renegotiation of trade deals... [Read more]
Alphabet posts strong revenue growth, higher taxes hit earnings
Google parent Alphabet Inc posted fourth-quarter profit below analysts' estimates on Thursday, hurt by a higher tax rate, but analysts cheered the company's progress in diversifying its business beyond advertising. While advertising still accounts for the lion's share … See more here: Alphabet posts strong revenue growth, higher taxes hit earnings Read More →
As regulators waver, Apple takes on Qualcomm in courts
By Stephen Nellis SAN FRANCISCO (Reuters) – Apple Inc's new legal assault on Qualcomm in the United States and China reflects its conclusion that regulators are unlikely to put an end to what it considers the chip maker's unfair business practices, analysts said. Apple has long objected to Qualcomm's… Go here to see the original: As regulators waver, Apple takes on Qualcomm... [Read more]
Dollar recoups losses, shares lower as banks weigh
By Vikram Subhedar LONDON (Reuters) – The dollar extended its recovery against a basket of other currencies on Friday, while banks dragged European shares slightly lower following underwhelming results from Swiss major UBS. The two-day recovery comes after the dollar suffered a 4 percent drop in the three weeks from Jan. 3 reflecting doubts about how U.S. President Donald Trump's policies... [Read more]
BlackRock jilts State Street, moves $1 trillion in custody assets to JPMorgan
State Street Corp on Wednesday reported a 3.4 percent drop in fourth-quarter revenue and said it lost more than $1 trillion in custody assets to JPMorgan Chase & Co Inc , sending State Street stock tumbling as much as 7.5 percent. State Street is the world's No. 2 custody bank with $28.8 trillion in assets under custody and administration. Read the original post: BlackRock jilts State Street,... [Read more]
Cisco to buy AppDynamics for $3.7 billion in growth push
By Liana B. Baker and Heather Somerville SAN FRANCISCO (Reuters) – Cisco Systems Inc said on Tuesday that it agreed to buy U.S. business software company AppDynamics Inc for about $3.7 billion, making one of its largest deals of recent years as it searches for growth beyond its core networking business. Legacy technology players like Cisco have been… See the original post here: Cisco to... [Read more]
Samsung Electronics warns of political risks as chips boost Q4 profit
Samsung Electronics Co Ltd on Tuesday said it expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco in the fourth quarter. The South Korean tech giant and Apple Inc rival … Original post: Samsung Electronics warns of political risks as chips boost Q4 profit Read More →