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Exclusive: Apple’s Tim Cook to visit China for government meetings – source
Apple Inc Chief Executive Tim Cook plans to visit Beijing later this month to meet high-level government officials, at a time when it is facing some setbacks in its most important overseas market, a source familiar with the matter said. Cook has frequently traveled to China since taking the helm of Apple five… Read the original here: Exclusive: Apple’s Tim Cook to visit China for government... [Read more]
Sumner Redstone’s defiance gets judge’s attention at trial
Sumner Redstone appeared to take the upper hand in defending a lawsuit challenging his mental competency on Friday, as a judge called Redstone's deposition “strong evidence” that the media mogul knew what he was doing when he ejected an ex-girlfriend from his life. The woman, Manuela Herzer, is suing Redstone over her removal in October as the billionaire's designated health... [Read more]
Good U.S. payrolls gains seen, but swelling labor force to cap wage growth
U.S. employment likely rose again in April, but a rush of job seekers into the labor market should keep wage gains moderate and buy a cautious Federal Reserve more time before raising interest rates again. Nonfarm payrolls probably increased by 202,000 last month in U.S. Labor Department data… Read the original post: Good U.S. payrolls gains seen, but swelling labor force to cap wage growth Read More →
Tesla puts pedal to the metal, 500,000 cars planned in 2018
Tesla Motors Inc said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but warned that spending will ramp up in tandem. The company, which three months ago aimed to make a net profit in the final quarter of this … Excerpt from: Tesla puts pedal to the metal, 500,000 cars... [Read more]
China to invest $11.9 billion in aviation infrastructure in 2016: Xinhua
By Adam Jourdan and Siva Govindasamy SHANGHAI/SINGAPORE (Reuters) – China will invest 77 billion yuan ($11.9 billion) this year in building aviation infrastructure, the official Xinhua news agency reported late on Wednesday, citing the country's civil aviation regulator. The Civil Aviation Administration of China (CAAC) said the investment, which will focus on airports… Continued... [Read more]
New York Times revenue falls on lower ad sales
(Reuters) – New York Times Co reported a 1.2 percent fall in quarterly revenue as ad sales fell in its print and digital businesses. Digital ad revenue, which contributes about a third of total ad revenue, fell 1.3 percent to $41.8 million, while print advertising revenue fell 9 percent, the company said on Tuesday. Read more from the original source: New York Times revenue falls on lower ad... [Read more]
Global factory growth nearly stalled in April: PMI
LONDON (Reuters) – Global manufacturing growth almost stalled last month as rising price halted a pick-up in new orders, a survey showed on Tuesday. See the original post: Global factory growth nearly stalled in April: PMI Read More →
New drugs fuel strong Pfizer results; company raises 2016 forecasts
Pfizer said sales would be hurt in the fourth quarter of 2016, however, when those added days will be offset by fewer days. Pfizer walked away from the deal after the U.S. Treasury issued new rules curbing tax inversion deals, under which American companies move overseas to cut taxes. Many analysts believe Pfizer needs to buy new medicines or entire biotech companies to ensure competitive earnings... [Read more]
Fed may need more powers to support securities firms during crises: Dudley
By Lindsay Dunsmuir AMELIA ISLAND, Fla (Reuters) – The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity crunch, New York Federal Reserve President William Dudley said on Sunday. “Providing these firms with access to the discount window might be worth exploring,” Dudley said in prepared... [Read more]
ICE may have more time to consider bid for London bourse
By Sophie Sassard and Huw Jones LONDON (Reuters) – London Stock Exchange Group and Deutsche Boerse may have to delay a vote on their proposed merger until after Britain's EU referendum, handing more time to Intercontinental Exchange to decide whether to make a counter-bid for the British bourse. LSEG had been expected to hold a special shareholder meeting to approve the merger with Deutsche... [Read more]