News

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Wed, 17 Oct 2018 02:36:03 GMT

IMF Managing Director Lagarde to not attend Saudi investment conference

On Tuesday, the Managing Director of the International Monetary Fund Christine Lagarde claimed that she will postpone her Middle East trip and will not attend Saudi Arabia's investment conference.

Tue, 16 Oct 2018 20:29:33 GMT

IBM misses revenue forecasts, as server sales weaken

International Business Machines missed Wall Street forecasts for the Q3 revenue, weighed down by weakening demand for mainframe servers, with overall revenue falling 2.1% to $18.76B.

Tue, 16 Oct 2018 20:27:02 GMT

Railroad operator CSX's quarterly profit tops Wall St. target

CSX reported the quarterly profit above Wall Street's estimates, as the one of the biggest railroad operator in the US benefited from volume increase, ongoing cost-cutting and rising prices for transporting freight.

Tue, 16 Oct 2018 19:28:37 GMT

Walmart CEO indicates new company culture, diminishes profit projection

The CEO of Walmart urged investors to revise the view of the company's business, touting tech investments to increase online sales, while Walmart was battling Amazon.com for market share.

Tue, 16 Oct 2018 19:25:50 GMT

Dell sticks to plan of going public

Dell Technologies stated that it was sticking to plans to go public via buying back the tracking stock, a day after an investor Carl Icahn opposed the company's move.

Tue, 16 Oct 2018 18:08:23 GMT

US industrial production rises in September

The US industrial output increased for a fourth month in succession in September, supported by gains in mining and manufacturing production, but momentum slowed markedly in the Q3.

Tue, 16 Oct 2018 18:03:40 GMT

Google to charge fees from smartphone makers for Google Play

The US tech giant Google is set to charge smartphone producers a fee for the use of Google Play and to allow them to use rivals' versions of Android OS to comply with the EU antitrust order.

Tue, 16 Oct 2018 16:51:00 GMT

Renault ties up with Brilliance over electric vans

Renault has partnered with China's Brilliance over their plan to present three electric delivery vans within two years, as they seek to boost earnings on rapid growth in the Chinese commercial vehicle market.

Tue, 16 Oct 2018 16:50:50 GMT

Walmart cuts earnings estimates amid Flipkart takeover

Walmart has reduced its annual earnings outlook on Tuesday due to its recent acquisition of India's e-commerce company Flipkart in a $16B deal, bringing its shares down 0.6% to $93.25.

Tue, 16 Oct 2018 16:07:24 GMT

BlackRock not to trim relations with Saudi Arabia

On Tuesday, BlackRock's CEO Larry Fink stated that the company had no intention to cut the relations with Saudi Arabia on the back of the rising pressure over missing journalist.

Tue, 16 Oct 2018 16:02:14 GMT

TomTom shares drop 13% on losing contract with Volvo

TomTom shares plunged 13% this Tuesday after the Dutch navigation company announced about the contract loss with the automaker Volvo, after it had been awarded in 2016.

Tue, 16 Oct 2018 15:31:24 GMT

British Parliament speaker to resign next summer

John Bercow, the British Parliament's speaker is set to step down from his post in summer 2019, according to the ITV broadcaster.

Tue, 16 Oct 2018 15:29:08 GMT

Carl Icahn raises stake in Dell tracking stock by 8.3%

Carl Icahn, the activist investor, boosted a stake in the Dell initial public offering by 8.3% on Monday, as he seeks to block the computer maker's plan to come back to the market without listing.

Tue, 16 Oct 2018 13:51:54 GMT

Russia's Lavrov to meet with John Bolton next week

On Tuesday, the Kremlin's aide Yuri Ushakov stated that Russia's Foreign Minister Sergei Lavrov and John Bolton, the US National Security Adviser, were set for a Moscow meeting next week.

Tue, 16 Oct 2018 13:44:37 GMT

JD Sports' Small to step down as CFO

The UK sportswear retailer JD Sports announced on Tuesday that its Chief Financial Officer Brian Small would retire from his role after nearly 15 years serving at this position.

Tue, 16 Oct 2018 13:37:14 GMT

Audi fined €800M for diesel violations

Volkswagen's luxury car brand Audi has been fined €800M on Tuesday over diesel violations regarding their six- to eight-cylinder engines that did not comply with anti-pollution standard.

Tue, 16 Oct 2018 13:30:43 GMT

Wells Fargo to move EU services to Paris amid Brexit

Wells Fargo has applied for the investment company licence in Paris due to the Brexit plan, as it seeks to shift its EU hub to out of London.

Tue, 16 Oct 2018 12:13:43 GMT

Quarterly profit of Goldman Sachs rises by 20.5%

On Tuesday, Goldman Sachs reported that its quarterly profit has increased by 20.5% because of the growth with net earnings growing to $2.45B or $6.28 per share.

Tue, 16 Oct 2018 12:08:15 GMT

Uber receives proposals valuing company at $120B

On Tuesday, Uber Inc received proposals from the Wall Street investment banks that the possible initial public offering of the ride-handling company could be valued at $120B.

Tue, 16 Oct 2018 10:50:22 GMT

BlackRock profit surges nearly 29% on low risk fund demand

On Tuesday, BlackRock posted a 28.8% surge in its profit, driven by a high demand for the low risk funds and marked by the escalating tensions between the US and China.

Tue, 16 Oct 2018 10:41:55 GMT

BMW, Daimler proposes concessions to weaken EU concerns over deal

Germany's luxury automakers BMW and Daimler have proposed to ease the European Commission's antitrust concerns over their car-sharing business merger deal.

Tue, 16 Oct 2018 10:30:44 GMT

Banking sector dumps Saudi conference

On Tuesday, even more banking officials pulled out of the planned high profile meeting in Saudi Arabia. Namely, HSBC, Credit Suisse and Standard Chartered executives have refused to attend.

Tue, 16 Oct 2018 10:29:48 GMT

Elon Musk announces new chip

On Tuesday, the CEO of Tesla announced a new chip, which will improve autopilot features of Tesla cars.

Tue, 16 Oct 2018 09:36:47 GMT

Japan's Idemitsu completes deal to acquire Showa Shell

On Tuesday, Idemitsu Kosan, Japan's oil refiner has completed its deal to take over Showa Shell Sekiyu via share swap for around $5.6B.

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