Reuters Business News

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Updated: 2 hours 38 min ago

Wall Street opens higher on upbeat start to earnings

2 hours 48 min ago
U.S. stocks opened higher on Tuesday, as strong earnings reports from JPMorgan Chase, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on corporate America.
Categories: Financial Media

Goldman profit falls short on weak underwriting, M&A advisory

2 hours 50 min ago
Goldman Sachs Group Inc missed Wall Street's estimates for quarterly profit on Tuesday as global economic worries dampened appetite for deals and share sales.
Categories: Financial Media

Consumer banking powers Citigroup's profit beat

2 hours 52 min ago
Citigroup Inc beat analysts' estimates for quarterly revenue and profit on Tuesday, as growth in its consumer banking business tempered weakness in trading.
Categories: Financial Media

Former Thomas Cook boss defends record after firm's collapse

2 hours 57 min ago
The former chief executive of bankrupt travel firm Thomas Cook said on Tuesday he understood public anger over his pay but defended his record, saying he had worked tirelessly to try to save the company.
Categories: Financial Media

Banks reap $1 billion from U.S. mortgage bond trading boom

3 hours 3 min ago
Global banks earned $1 billion from trading government-backed U.S. mortgage securities in the first half of 2019, data shows, a fivefold increase on last year for what industry sources say is the fastest growing revenue source in investment banking.
Categories: Financial Media

Intel buys software business from Canada's Pivot Technology in 5G push

3 hours 26 min ago
California chipmaker Intel Corp has agreed to purchase a software business from Toronto-based information technology firm Pivot Technology Solutions Inc , Intel said on Tuesday.
Categories: Financial Media

BlackRock beats profit estimates as assets swell to nearly $7 trillion

3 hours 29 min ago
BlackRock Inc , the world's largest asset manager, exceeded analysts' estimates for quarterly profit on Tuesday, as investors poured money into its fixed-income funds and cash management business amid worries about global growth.
Categories: Financial Media

Blackstone turns up heat on hotelier Unizo with tender offer

3 hours 37 min ago
Private equity firm Blackstone Group said on Tuesday it would launch a tender offer for Unizo Holdings at 5,000 yen a share, doubling down on its $1.6 billion offer after the proposal was rebuffed by the Japanese hotel chain.
Categories: Financial Media

Oil prices steady on trade war jitters but OPEC hints supply restraint

3 hours 37 min ago
Oil prices steadied on Tuesday after two days of losses amid U.S.-China trade talks which have investors on edge, but OPEC said it hoped to balance markets beyond 2020 in a sign of possible further supply curbs.
Categories: Financial Media

Wells Fargo profit slumps 26% on legal costs

3 hours 42 min ago
Wells Fargo & Co reported a 26% slump in quarterly profit on Tuesday, as mortgage income sank and it braced for additional legal expenses tied to a sales practices scandal that erupted more than three years ago.
Categories: Financial Media

Stocks struggle higher on Brexit hopes as trade optimism fades

3 hours 47 min ago
Global stocks edged higher on Tuesday yet safe havens were still in play as markets tried to balance fading optimism over the latest China-U.S. trade truce with the likelihood of a Brexit deal by Thursday's European Union summit.
Categories: Financial Media

JPMorgan beats profit estimates on strength in bond trading, underwriting

3 hours 58 min ago
JPMorgan Chase & Co beat Wall Street estimates for quarterly profit by a wide margin on Tuesday, underpinned by strength in bond trading and underwriting.
Categories: Financial Media

UnitedHealth raises profit view as revenue from pharmacy benefits grows

4 hours 4 min ago
UnitedHealth Group Inc on Tuesday raised its 2019 earnings forecast for the third time this year, bolstered by higher revenue at its unit that manages pharmacy benefits as well as its core health insurance business.
Categories: Financial Media

Prescription drugs boost drives J&J forecasts higher, shares rise

4 hours 5 min ago
Johnson & Johnson boosted its profit forecast for the year on Tuesday after posting better-than-expected quarterly earnings on stronger prescription sales of its psoriasis treatment Stelara and cancer drug Imbruvica.
Categories: Financial Media

Volkswagen postpones final decision on Turkey plant

5 hours 32 min ago
Volkswagen has postponed the final decision whether to build a car plant in Turkey, the company said, amid international criticism of the country's military operation in Syria and concerns about potential reputational fallout.
Categories: Financial Media

UnitedHealth beats quarterly profit, raises earnings forecast

5 hours 47 min ago
UnitedHealth Group Inc beat analysts' estimates for quarterly profit and raised its 2019 earnings forecast on Tuesday, benefiting from strength in its core business of selling health plans and its pharmacy benefits unit.
Categories: Financial Media

KKR consortium cancels Australia's Latitude IPO: sources

5 hours 48 min ago
U.S. private equity firm KKR & Co and its partners have canceled what was expected to be the biggest Australian IPO of the year, the listing of their lender Latitude Financial, two sources told Reuters.
Categories: Financial Media

BlackRock profit beats as its low-risk funds attract more money

5 hours 51 min ago
BlackRock Inc , the world's largest asset manager, beat analysts' estimates for quarterly profit on Tuesday, as more money rolled into its fixed-income funds against the backdrop of an uncertain global economy.
Categories: Financial Media

Google share of search ad market high but shrinking: eMarketer

6 hours 7 min ago
Alphabet Inc's Google dominates the growing U.S. search ad market but Inc is growing fast, according to data from the market research company eMarketer released on Tuesday.
Categories: Financial Media

U.S. pension funds took positions in blacklisted Chinese surveillance company

6 hours 8 min ago
Some of the biggest public pensions funds in the United States have invested in one of the world's largest purveyors of video surveillance systems that the U.S. government claims are used in wide-scale repression of the Muslim population of western China.
Categories: Financial Media