Bank of America profit jumps on lower tax, loan growth

Bank of America profit jumps on lower tax, loan growth

(Reuters) – Bank of America Corp reported a 36.3 percent jump in quarterly profit, helped by loan growth across its businesses, lower expenses and a smaller tax bill. Continue Reading Below Net income applicable to common shareholders rose to $6.47 billion in the second quarter, from $4.75 billion a year earlier. Earnings per share was 63 cents, up from 44 cents. Analysts on average were expecting the bank to earn 57 cents per share, according…

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BlackRock tops profit estimates on investment advisory fees

BlackRock tops profit estimates on investment advisory fees

(Reuters) – BlackRock Inc, the world’s biggest asset manager, reported a better-than-expected quarterly profit on Monday, helped by growth in its investment advisory business. Continue Reading Below Net income attributable to the company rose to $1.07 billion in the second quarter ended June 30, from $854 million a year earlier. On a per share basis, BlackRock earned $6.62, compared with $5.20 a year earlier. Excluding items, the company earned $6.66 per share, while analysts had…

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Oil prices ease on potential supply hikes

Oil prices ease on potential supply hikes

article Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers. Continue Reading Below Brent crude futures were down 48 cents, or 0.6 percent, at $74.85 a barrel at 0302 GMT. U.S. West Texas Intermediate (WTI) crude was down 39 cents, or 0.6 percent, at $70.62 a barrel. Supply outages in Libya and strike action in…

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Oil edges lower, set for big weekly decline

Oil edges lower, set for big weekly decline

article Oil prices edged lower on Friday and were set for a second weekly fall, as the market shrugged off a warning that spare capacity may be stretched as OPEC and Russia increase production. Continue Reading Below Brent crude eased 36 cents, or 0.5 percent, to $74.09 by 0326 GMT. On Thursday it gained $1.05 a barrel, rebounding from a session low of $72.67. It is heading for a weekly fall of nearly 4 percent….

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Brent oil gains $1 to claw back some losses

Brent oil gains $1 to claw back some losses

article Brent crude rose more than $1 on Thursday, recouping some ground after its biggest one-day drop in two years in the previous session on news that Libya would resume oil exports and U.S.-China trade tensions. Continue Reading Below Brent crude rose $1.31, or 1.8 percent, to $74.71 by 0242 GMT after slumping 6.9 percent on Wednesday. U.S. West Texas Intermediate (WTI) added 42 cents, or 0.6 percent, to $70.80, after falling 5 percent the…

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Oil falls after Trump threatens to escalate trade war

Oil falls after Trump threatens to escalate trade war

article Oil prices fell on Wednesday, with Brent dropping by more than $1 at one point, after U.S. President Donald Trump threatened to levy new trade tariffs on China. Continue Reading Below The specter of tariffs on a further $200 billion worth of Chinese goods sent commodities lower along with stock markets, with trade tensions between the world’s two biggest economies intensifying. Brent crude futures were down 75 cents, or 1 percent, at $78.11 a…

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PepsiCo 2Q revenue rises 2.4 pct

PepsiCo 2Q revenue rises 2.4 pct

article FILE – In this Thursday, Aug. 18, 2016, file photo, a Pepsi truck delivers products to vendors at the Illinois State Fair in Springfield, Ill. PepsiCo Inc. (PEP) on Wednesday, Feb. 15, 2017, reported fourth-quarter profit of $1.4 billion. (AP Photo/S PepsiCo reported a 2.4 percent rise in quarterly revenue on Tuesday due to higher sales growth in its Frito-Lay unit in North America that helped offset weak demand for beverages. Continue Reading Below…

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Brent leads crude prices higher ahead of possible Norway strike

Brent leads crude prices higher ahead of possible Norway strike

Oil prices rose on Tuesday on escalating concerns over potential supply shortages, with Brent crude leading the way as hundreds of oil workers in Norway were set to strike later in the day. Continue Reading Below Brent crude had added 32 cents, or 0.4 percent, to $78.39 per barrel by around 0303 GMT, following a 1.2-percent climb on Monday. U.S. light crude futures were up 17 cents, or 0.2 percent, at $74.02. They gained 5…

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Oil prices edge up as investors eye tight market

Oil prices edge up as investors eye tight market

article (REUTERS/Christian Hartmann) Oil prices rose on Monday as investors focused on tight market conditions after data late last week showed U.S. crude inventories fell to their lowest in more than three years. Continue Reading Below Global benchmark Brent rose 37 cents, or 0.5 percent, to $77.48 a barrel by 0305 GMT. U.S. crude futures added 29 cents, or 0.4 percent, to $74.09. Official data that came out on Thursday, a day later than normal…

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Twitter suspends over 70 million accounts in two months: Washington Post

Twitter suspends over 70 million accounts in two months: Washington Post

Twitter Inc suspended more than one million accounts a day in recent months to reduce the flow of misinformation on the platform, the Washington Post reported. Continue Reading Below Twitter and other social media platforms such as Facebook Inc have been under scrutiny by U.S. lawmakers and international regulators for doing too little to prevent the spread of false content. The companies have been taking steps such as deleting user accounts, introducing updates and actively…

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