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Updated: 1 hour 11 min ago

Carmaker JLR urges UK lawmakers to prevent a no-deal Brexit

Wed, 01/16/2019 - 15:00
Britain's biggest carmaker Jaguar Land Rover (JLR) urged lawmakers to rule out the possibility that the country leaves the European Union without a deal, to prevent companies from having to make costly contingency planning.
Categories: Financial Media

Oil steady as worries over global economy, supply glut weigh

Wed, 01/16/2019 - 14:56
Oil prices steadied on Wednesday after climbing about 3 percent in the previous session, with worries about the global economy and forecasts of swelling U.S. production dampening sentiment.
Categories: Financial Media

Ferrari chairman reiterates support for CEO Camilleri

Wed, 01/16/2019 - 14:47
John Elkann, chairman of Ferrari and main shareholder Exor , reiterated his support for Ferrari chief executive Louis Camilleri, denying speculation a top management purge could be on the cards.
Categories: Financial Media

Ford sees weaker-than-expected fourth quarter, uncertainty in 2019

Wed, 01/16/2019 - 14:46
Ford Motor Co forecast a weaker-than-expected fourth quarter profit, and said on Wednesday tariffs could erode 2019 earnings by about $700 million, sending its shares down 2 percent in early trading.
Categories: Financial Media

Wall Street rises at open on BofA, Goldman earnings boost

Wed, 01/16/2019 - 14:34
U.S. stocks opened higher on Wednesday, boosted by financial stocks after strong earnings from Goldman Sachs and Bank of America.
Categories: Financial Media

U.S. start-up CommonGrounds raises $100 million, unveils 'hackable' shared office

Wed, 01/16/2019 - 14:22
CommonGrounds, a California start-up trying to carve out a niche in the crowded flexible workspace sector with movable office walls, has raised $100 million from three investors, including the Emirati developer of Dubai's Burj Khalifa, the world's tallest skyscraper.
Categories: Financial Media

BofA's loan growth powers better-than-expected profit

Wed, 01/16/2019 - 14:15
Bank of America Corp’s quarterly profit topped analyst estimates on Wednesday as its growing loan book helped it ride out year-end market volatility.
Categories: Financial Media

Goldman's revenue beat powered by M&A bankers, equity traders

Wed, 01/16/2019 - 14:15
Goldman Sachs topped analysts' revenue estimates on Wednesday as strength in its equities desk and M&A advisory cushioned losses from bond trading, making it the only Wall Street bank so far to show growth in fourth-quarter trading revenue.
Categories: Financial Media

U.S. import prices fall; year-on-year drop largest since 2016

Wed, 01/16/2019 - 14:08
U.S. import prices fell for a second straight month in December as the cost of petroleum products tumbled and a strong dollar curbed prices of other goods, leading to the largest annual drop in more than two years.
Categories: Financial Media

Snap shares hit by second CFO exit in a year

Wed, 01/16/2019 - 14:03
Shares of Snap Inc fell 9 percent in early trading on Wednesday after Tim Stone became the second finance chief to leave the Snapchat operator in a year since a much-criticized redesign.
Categories: Financial Media

U.S. automakers push for deal on fuel efficiency rules

Wed, 01/16/2019 - 13:41
Executives at the major U.S. automakers are pressing the Trump administration and California to agree on standards for fuel efficiency and carbon emissions through 2025, as risks increase that a deadline for setting national standards will pass without a deal.
Categories: Financial Media

World stocks hold nerve after May's Brexit defeat, pound steady

Wed, 01/16/2019 - 13:37
World equity markets on Wednesday held their nerve after the heavy parliamentary defeat of British Prime Minister Theresa May's Brexit deal as investors saw potential for legislative deadlock forcing London to delay its departure from the EU.
Categories: Financial Media

Embraer warns of little or no profit in next two years

Wed, 01/16/2019 - 13:37
Brazilian planemaker Embraer SA said on Wednesday it plans to have a net cash position once a proposed $4.2 billion deal with Boeing Co closes, although it warned of little or no profit in the next two years.
Categories: Financial Media

EU court paves way for $2 billion UPS claim as annuls TNT bid veto

Wed, 01/16/2019 - 13:18
Europe's top court opened the way to a $2 billion damages claim by U.S. delivery company UPS on Wednesday by annulling a 2013 decision to stop it buying Dutch firm TNT Express.
Categories: Financial Media

Guggenheim's Scott Minerd says Fed will pause to start 2019

Wed, 01/16/2019 - 12:15
The Federal Reserve is likely to hold its interest rate hikes on pause for the start of 2019 in order to stabilize markets, given economic growth is set to slow and financial conditions having tightened, Guggenheim Partners Global Chief Investment Officer Scott Minerd said on Wednesday.
Categories: Financial Media

Marriott looks to reboot loyalty plan after cyber attack

Wed, 01/16/2019 - 12:12
Marriott International Inc will relaunch its loyalty program under a new brand name, the company said on Wednesday, as it seeks to undo the damage to its name from a massive cyber attack that led to millions of customer records being stolen.
Categories: Financial Media

Bank of America's quarterly profit more than triples

Wed, 01/16/2019 - 11:57
Bank of America Corp reported fourth-quarter profit that more than tripled from a year earlier, when it took a $2.9 billion charge related to changes in the U.S. tax law.
Categories: Financial Media

Embraer cuts 2018 outlook, hurt by executive jet, defense setbacks

Wed, 01/16/2019 - 11:45
Brazilian planemaker Embraer SA on Wednesday lowered its revenue projection for 2018 by $300 million, hurt by fewer deliveries of executive jets and a runway testing incident with its new military cargo jet.
Categories: Financial Media

BlackRock profit misses as investors opt out of expensive funds

Wed, 01/16/2019 - 11:43
BlackRock Inc reported a lower-than-expected quarterly profit on Wednesday, as market volatility towards the end of 2018 prompted investors to pull out money from the world's biggest asset manager's actively managed funds.
Categories: Financial Media

Ford forecasts weaker-than-expected fourth quarter profit

Wed, 01/16/2019 - 11:39
Ford Motor Co on Wednesday offered a fourth-quarter earnings forecast that was below Wall Street's expectations.
Categories: Financial Media