Top U.S. bankers are still hoping that President Trump’s administration will make policy changes to boost profits, but made clear in public comments in recent days that they are not seeing any signs of progress so far. Continue Reading Below Optimism about tax cuts, infrastructure investment and an unwind of […]
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China third-quarter GDP growth slows as expected
China’s economic growth slowed slightly as expected in the third quarter as the government’s efforts to rein in the property market and debt risks tempered activity in the world’s second-largest economy. Continue Reading Below The economy grew 6.8 percent in the third quarter from a year earlier, in line with […]
Trump selects Washington lawyer Joe Simons to head FTC: official
President Donald Trump has selected Joseph Simons, an antitrust attorney from a Washington law firm, to head the Federal Trade Commission, a White House official said on Wednesday. Continue Reading Below Trump is expected to nominate Simons to the agency, along with Noah Phillips and Rohit Chopra to be FTC […]
Blue Apron cuts 6 percent of its workforce
Blue Apron Holdings Inc (APRN) said it had cut about 6 percent of its total workforce, nearly four months after going public, as the meal-kit delivery company comes under increasing pressure from deep-pocketed rivals such as Amazon.com Inc (AMZN). Continue Reading Below Blue Apron, which went public in June has […]
AmEX CEO Kenneth Chenault stepping down, Stephen Squeri takes over
Credit card issuer American Express Co (AXP) said on Wednesday long-time Chief Executive Kenneth Chenault will step down and will be replaced by Stephen Squeri. Continue Reading Below Net income attributable to common shareholders rose to $1.36 billion, or $1.50 per share, in the third quarter ended Sept. 30, from […]
United Airlines third-quarter profit falls, hurt by storms
United Airlines <UAL.N> on Wednesday said its third-quarter net income fell by a third to $669 million from the year-ago period, partly due to $185 million in pretax losses caused by canceled flights during the Atlantic hurricane season. Continue Reading Below The Chicago-based carrier’s passenger revenue per available seat mile, […]
IBM beats revenue estimates; hints at sales growth
International Business Machines Corp’s shift to newer businesses such as cloud and security services helped it beat analysts’ quarterly revenue estimates, and the technology major hinted at sales growth after nearly six years of declines. Continue Reading Below Shares of the Dow component rose nearly 5.1 percent to $153.93 in […]
U.S. senators reach bipartisan deal on Obamacare, Trump indicates support
Two U.S. senators on Tuesday reached a bipartisan agreement to shore up Obamacare for two years by reviving federal subsidies for health insurers that President Donald Trump planned to scrap, and the president indicated his support for the plan. Continue Reading Below The deal worked out by Republican Senator Lamar […]
JPMorgan to buy online payment provider WePay
PMorgan Chase said on Tuesday it would acquire online payment provider WePay as the bank looks to integrate payments into software used by small businesses. Continue Reading Below WePay’s technology, popular among small businesses, helps online software service providers like FreshBooks and crowdfunding websites such as GoFundMe process payments without […]
Oil prices rise on tighter US market, Middle East tensions
Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies. Continue Reading Below Brent crude futures, the international benchmark for oil prices, were at $58.27 at 0314 GMT, up 39 cents, or 0.7 percent from their […]