Baidu Inc chief scientist Andrew Ng said on Wednesday he will resign from the Chinese search engine company after three years of leading its drive into artificial intelligence (AI) and augmented reality (AR) projects. More »
Lower Manhattan including the financial district is pictured from the Manhattan borough of New York, U.S. June 1, 2016. REUTERS/Carlo Allegri/File Photo After several years of restructuring and regulatory pressure, investment banks have reached a turning point... More »
Southwest Airlines planes are seen in front of the Las Vegas strip, Nevada, United States in this April 23, 2015, file photo. REUTERS/Lucy Nicholson/Files Southwest Airlines Co (LUV.N) cut its forecast for a key revenue measure on Friday, citing “unexpected so... More »
The likelihood of a more aggressive U.S. Fed after an expected March rate rise failed to dent stock market investments over the past week, with equity funds receiving $11.8 billion for a 10th straight week of inflows, data showed on Friday. More »
DBS CEO Piyush Gupta speaks during a Reuters Newsmaker event in Singapore March 2, 2017. REUTERS/Edgar Su Singapore lender DBS Group is expanding its wealth management business and expects the segment will account for as much as a fifth of its revenues in a fe... More »
Galaxy Macau, the latest resort in Macau built by Galaxy Entertainment Group, is lit up in the evening after it opened for business May 15, 2011. REUTERS/Bobby Yip/File Photo Macau’s gambling revenue rose for a seventh month and hit a two-year high in February... More »
Traders work on the trading floor at the opening of the markets at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. February 27, 2017. REUTERS/Andrew Kelly U.S. stock futures were ahead late on Tuesday, indicating a higher open on Wednesday... More »
The Salesforce logo is pictured on a building in San Francisco, California, U.S. October 12, 2016. REUTERS/Lily Jamali Salesforce.com Inc (CRM.N) raised its revenue forecast for its full fiscal year to slightly above analysts expectations but lowered its outlo... More »
A woman walks past the London Stock Exchange building in the City of London, Britain, January 16 , 2017. REUTERS/Toby Melville London Stock Exchange (LSE.L) said its proposed merger with Deutsche Boerse AG (DB1Gn.DE) was unlikely to be approved by the European... More »
FILE PHOTO – Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York, U.S. on September 8, 2015. REUTERS/Lucas Jackson/File Photo Warren B... More »
A Bank of America logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Warren Buffett said on Saturday he plans to stick with the shrewd bet that his Berkshire Hathaway Inc (BRKa.N) made on Bank of America Corp (BAC.N), but might event... More »
Customers ride the escalator at a J.C. Penney store in New York August 14, 2013. REUTERS/Brendan McDermid/File Photo Department store operator J.C. Penney Co Inc (JCP.N) said on Friday it would close 130-140 stores over the next few months, and reported a bigg... More »
Emerging market equities have a spring in their step as an upswing in company profits extends a year-long 40 percent rally in the sector and allows investors to look past the threat of a global trade war. More »
A wheel of a prototype of the Tesla Model 3 on display in front of the factory during a media tour of the Tesla Gigafactory, which will produce batteries for the electric carmaker in Sparks, Nevada, U.S. July 26, 2016. REUTERS/James Glover II/File Photo Tesla ... More »
Dialog semiconductor logo is pictured at a company building in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle Dialog Semiconductor (DLGS.DE), maker of chips that go in Apple Inc’s (AAPL.O) and Samsung Electronics’ (005930.KS) smartphone... More »
The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid/File Photo Twitter Inc has found a bright spot in Brazil, Latin America’s largest economy, even as... More »
Signage for Square Inc. covers the front of the New York Stock Exchange celebrating the company’s IPO November 19, 2015. REUTERS/Lucas Jackson Payments processor Square Inc (SQ.N) reported better-than-expected quarterly results on Wednesday, helped by its effo... More »
FILE PHOTO – A Hewlett-Packard logo is seen at the company’s Executive Briefing Center in Palo Alto, California January 16, 2013. REUTERS/Stephen Lam/File Photo HP Inc (HPQ.N), which houses the hardware business of former Hewlett-Packard Co, reported a 3.6 per... More »
The ticker symbol for Fitbit is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) February 23, 2016. REUTERS/Brendan McDermid Fitbit Inc forecast lower-than-expected revenue for the current quarter, underscoring the we... More »
A woman walks past the logo of Swiss power technology and automation group ABB ahead of a news conference to present the company’s full-year results in Zurich, Switzerland February 8, 2017. REUTERS/Arnd Wiegmann Swiss engineering group ABB (ABBN.S) revealed th... More »
A waiter walks past an Airbus A400M military transport plane is parked at the Airbus assembly plant during an event in the Andalusian capital of Seville, southern Spain, December 1, 2016. REUTERS/Marcelo del Pozo Airbus (AIR.PA) called for new talks with Europ... More »
Commuters are reflected on an advertisement of Reliance Industries’ Jio telecoms unit, at a bus stop in Mumbai, India, February 21, 2017. REUTERS/Shailesh Andrade Reliance Industries’ Jio telecoms unit will charge a tariff for its services from April, but will... More »
A taxi drives past a branch of HSBC bank in London, Britain, February 9, 2015. REUTERS/Suzanne Plunkett/File Photo HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts’ estimates as the British bank took h... More »
FILE PHOTO: Offices in the financial district of Canary Wharf in London, Britain, January 19, 2017. REUTERS/Kevin Coombs/File Photo Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with... More »
Characters of Star Wars take part in an event held for the release of the film ‘Star Wars: The Force Awakens’ in Disneyland Paris in Marne-la-Vallee, France, December 17, 2015. REUTERS/Benoit Tessier Walt Disney Co and major retailers will release the galaxy’s... More »
Goldcorp Inc reported a fourth-quarter profit on Wednesday compared to a steep loss a year ago, as much lower costs at its gold mines in the Americas offset lower production. More »
FILE PHOTO – A bottle of Pepsi is seen in this file photo illustration February 10, 2015. REUTERS/Jim Young/Illustration/Files PepsiCo Inc (PEP.N) reported a better-than-expected quarterly profit, as the company benefited from its cost-cutting programs and hig... More »
Toshiba Corp (6502.T) has decided to delay the sale of shares in its chip business to the next financial year or later, Japan’s Kyodo news agency reported on Wednesday, without citing sources. More »
The AIG logo is seen at its building in New York’s financial district March 19, 2015. REUTERS/Brendan McDermid American International Group Inc (AIG.N), the largest commercial insurer in the United States and Canada, reported a bigger-than-expected quarterly l... More »
A man enters the Credit Suisse offices in the Manhattan borough of New York City, U.S. July 5, 2016. REUTERS/Brendan McDermid Credit Suisse (CSGN.S) on Tuesday posted a 2.35 billion Swiss franc ($2.34 billion) net loss for the fourth quarter on the back of a U... More »
The logo of Toshiba Corp. is seen at the company’s facility in Kawasaki, Japan February 13, 2017. Picture taken February 13, 2017. REUTERS/Issei Kato Toshiba Corp (6502.T) has delayed its earnings release, including details of a multi-billion charge related to... More »
The logo of Zuercher Kantonalbank bank (ZKB) is seen at its headquarters at the Bahnhofstrasse in Zurich, Switzerland March 7, 2016. REUTERS/Arnd Wiegmann Swiss local government-owned Zuercher Kantonalbank (ZKB) hasn’t made much progress in settling a tax case... More »
Independent brokerage LPL Financial Holdings Inc posted a fourth-quarter profit that surged 56 percent as an increase in advisory assets helped soften the costs of an uncertain regulatory environment. More »
FILE PHOTO – A Time Warner logo is seen at a Time Warner store in New York City, October 23, 2016. REUTERS/Stephanie Keith/File Photo Time Warner Inc reported higher-than-expected fourth-quarter results, largely due to box office hits such as the “Harry Potter... More »
FILE PHOTO – The logo of the Disney store on the Champs Elysee is seen in Paris, France, March 3, 2016. REUTERS/Jacky Naegelen/File Photo Chief Executive Bob Iger said on Tuesday he is open to extending his term as the head of Walt Disney Co (DIS.N), offering ... More »
A promotion for the computer game ”Grand Theft Auto Five” is show in a Game Stop gaming story in Encinitas, California September 17, 2013. REUTERS/Mike Blake/File Photo Take-Two Interactive Software Inc, best known for its hugely popular “Grand Theft Auto” vid... More »
Shares of Gilead Sciences Inc are languishing over concerns about the U.S. biotechnology company’s declining hepatitis C drugs and profit outlook, but some value investors sense an opportunity with shares at extremely cheap levels. More »
Disney Princess Royal Shimmer Dolls are seen in this undated handout photo provided by Hasbro. REUTERS/Hasbro/Handout via Reuters Hasbro Inc (HAS.O), the No. 2 U.S. toymaker, bucked the glum holiday-quarter trend, as it reported better-than-expected quarterly ... More »
Emma Walmsley of GlaxoSmithKline poses in this undated photograph released in London on September 20, 2016. Courtesy of GlaxoSmithKline/Handout via REUTERS Emma Walmsley, GlaxoSmithKline’s (GSK.L) incoming CEO, will take over Britain’s biggest drugmaker at a c... More »
Tyson food meat products are shown in this photo illustration in Encinitas, California May 29, 2014. REUTERS/Mike Blake Tyson Foods Inc (TSN.N), the biggest U.S. meat processor, reported a 28.6 percent rise in quarterly profit, helped by higher exports of beef... More »
A man looks at Toyota Motor Corp’s Estima Hybrid model at its headquarters in Tokyo, Japan, February 6, 2017. REUTERS/Kim Kyung-Hoon Toyota Motor Corp (7203.T) reported a drop in quarterly operating profit on Monday but still added 9.7 percent to its full-year... More »
Japan Tobacco Inc (JT) President and CEO Mitsuomi Koizumi attends a news conference in Tokyo, Japan February 6, 2017. REUTERS/Issei Kato Japan Tobacco Inc said it was still confident about the prospect of its Ploom Tech tobacco-based electronic cigarettes, the... More »
The logo of Mondelez International is pictured at the company’s building in Zurich November 14, 2012. T REUTERS/Michael Buholzer The number of U.S. companies using a budgeting tool made famous in the 1970s by former U.S. President Jimmy Carter is surging as th... More »
A man speaks on his mobile phone next to a Vodafone advertisement in Kolkata, India, September 26, 2016. REUTERS/Rupak De Chowdhuri Vodafone (VOD.L) said on Monday it was in talks to merge its Indian operations with rival Idea Cellular (IDEA.NS) in an all-shar... More »
The company logo of Sony Cooperation is seen at the CP+ camera and photo trade fair in Yokohama, Japan, February 25, 2016. REUTERS/Thomas Peter/File Photo Sony Corp (6758.T) said on Monday it booked an impairment charge of 112.1 billion yen ($976 million) on t... More »
Unicredit’s bank logo is pictured on block notes and pens at the headquarters in Milan, Italy, February 9, 2016. REUTERS/Stefano Rellandini/File Photo Italy’s biggest bank UniCredit (CRDI.MI) said on Monday its end-2016 capital ratios will not meet requirement... More »
FILE PHOTO: The logo of UBS is seen outside the building housing the headquarters of the Swiss bank in San Juan, Puerto Rico, July 31, 2015. REUTERS/Alvin Baez/File Photo UBS (UBSG.S) hopes optimism surrounding new U.S. President Donald Trump’s proposed polici... More »
Actelion’s Opsumit drug missed a primary endpoint in a late-stage study of patients with pulmonary arterial hypertension due to Eisenmenger Syndrome, a doctor involved in the trial said in a statement from the Swiss drugmaker. More »
A Singapore Exchange logo sits outside their head office in Singapore April 22, 2015. REUTERS/Edgar Su Singapore Exchange Ltd (SGXL.SI) said it faces challenges from slowing Asian economies after reporting a 5 percent rise in second quarter profit on Thursday,... More »
A customer walks in front of a Burberry store in central London July 15, 2008. REUTERS/Alessia Pierdomenico/File Photo British luxury brand Burberry (BRBY.L) said on Monday its incoming chief executive Marco Gobbetti will initially join the company on Jan. 27 ... More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly U.S. companies are set to report their strongest profit growth in two years, which could go a long way to... More »
The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai BlackRock Inc, the world’s biggest asset manager, reported better-than-expected quarterly profits on Friday as it clamped down on expenses and ... More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Executives of big U.S. banks expressed optimism on Friday about the outlook for 2017 in their first publi... More »
A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike Segar/Files Citigroup Inc (C.N) stands to get less of a profit boost than other big U.S. banks from lower corporate tax rates expected from the... More »
Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo, Japan September 14, 2015. REUTERS/Toru Hanai/File Photo Shares in chips-to-construction group Toshiba Corp tumbled 20 percent on Wednesday, hitting the Tokyo exchange’s dail... More »
Workers unload a wide body aircraft emblazoned with Amazon’s Prime logo at Lehigh Valley International Airport in Allentown, Pennsylvania, U.S. December 20, 2016. Picture taken December 20, 2016. REUTERS/Mark Makela Amazon.com Inc said it shipped more than 1 b... More »
Hungarian pharmaceuticals firm Richter has withdrawn its marketing application for one of its biosimilar drugs from the European Medicines Agency in anticipation of a possible negative assessment, the company said on Monday. More »
Emblems of German luxury car maker BMW are pictured in a box at the BMW factory in Dingolfing near Munich November 15, 2006. REUTERS/Michael Dalder/File Photo Daimler’s (DAIGn.DE) Mercedes-Benz is on track to overtake rival BMW (BMWG.DE) to take the title of t... More »
U.S. President-Elect Donald Trump speaks at event at Carrier HVAC plant in Indianapolis, Indiana, U.S., December 1, 2016. REUTERS/Chris Bergin Some big hedge funds got a bump in November after Donald Trump’s surprise U.S. presidential election victory sent sto... More »
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Bayliss More »
Shoppers stand in a checkout line during Black Friday sales at a Target store in Culver City, California, U.S. November 25, 2016. REUTERS/David McNew Sales and traffic at U.S. brick-and-mortar stores on Thanksgiving Day and Black Friday declined from last year... More »
A man and power lines are reflected in a Telstra poster adorning a public telephone in Sydney, Australia, August 13, 2015. REUTERS/David Gray/File Photo The ability of Australian telecoms company Telstra Corporation (TLS.AX) to offset the fall in its tradition... More »
A general view shows Swiss biotech group Actelion Headquarters in Allschwil near Basel February 17, 2015. REUTERS/Arnd Wiegmann Actelion (ATLN.S) has confirmed it has been approached by Johnson & Johnson (JNJ.N) about a possible transaction to take over the Sw... More »
Herve Brailly, CEO of Innate Pharma, attends the Reuters Biotech summit in Paris June 3, 2009. REUTERS/John Schults France’s Innate Pharma believes that its cash position and portfolio are sufficiently robust for the cancer drug company to remain independent f... More »
A vintage wheelcap of a BMW is picturesd before a news conference marking the company’s 100th birthday festivities in Munich, southern Germany March 7, 2016. REUTERS/Michael Dalder/File Photo BMW wants to boost sales of electric cars by two-thirds next year to... More »
The logo of Swiss pharmaceutical company Novartis is seen on its headquarters building in Basel, Switzerland October 27, 2015. REUTERS/Arnd Wiegmann Drugmaker Novartis (NOVN.S) is considering to sell its struggling Alcon eye care division, its chairman said in... More »
Media mogul Rupert Murdoch leaves his home in London, Britain March 4, 2016. REUTERS/Stefan Wermuth News Corp (NWSA.O), the owner of the Wall Street Journal, Dow Jones Newswires and book publisher HarperCollins, reported a quarterly loss as it struggles to cop... More »
Travel website operator Priceline Group Inc reported a 19 percent jump in quarterly revenue, driven by higher hotel bookings, sending its shares up 5.2 percent in extended trading. More »
A logo of Adidas company is seen on a building in Minsk, Belarus September 29, 2016. REUTERS/Vasily Fedosenko The new boss of Adidas (ADSGn.DE) announced plans on Thursday to overhaul struggling fitness brand Reebok and keep up the focus on reviving the main A... More »
3D-printed models of people are seen in front of a Facebook logo in this photo illustration taken June 9, 2016. REUTERS/Dado Ruvic/Illustration Facebook Inc (FB.O) shares tumbled 7 percent in after-hours trading on Wednesday as the world’s largest online socia... More »
The ticker symbol for Fitbit is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) February 23, 2016. REUTERS/Brendan McDermid Wearable fitness device maker Fitbit Inc’s (FIT.N) revenue forecast for the key-holiday shop... More »
A man uses his laptop next to Lenovo’s logos during the Mobile World Congress in Barcelona, Spain February 25, 2016. REUTERS/Albert Gea China’s Lenovo Group Ltd (0992.HK), the world’s largest personal computer (PC) manufacturer by shipments, on Thursday said i... More »
Hedge fund Och-Ziff Capital Management, which recently settled a bribery charge with the U.S. government, warned on Wednesday that investors are likely to keep pulling money out of the firm. More »
The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz in Zurich, Switzerland November 3, 2016. REUTERS/Arnd Wiegmann Credit Suisse reported an unexpected net profit for a second quarter in a row on Thursday though the surprise was... More »
The Electronic Arts Inc., logo is displayed on a screen during a PlayStation 4 Pro launch event in New York City, U.S., September 7, 2016. REUTERS/Brendan McDermid/File Photo Electronic Arts Inc’s (EA.O) second-quarter revenue edged past analysts’ estimates an... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo – RTSNP7O Wells Fargo & Co (WFC.N) CFO John Shrewsberry said on Friday he has not considered giving back bonuses he has earned fol... More »
A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files JPMorgan Chase (JPM.N) and Citigroup (C.N) trounced third-quarter estimates on Friday on a sharp rebound in trading revenues whil... More »
A woman walks past a luxury boutique in a shopping district in Tokyo, Japan, September 29, 2016. REUTERS/Toru Hanai Japan’s retailers are forecasting a gloomy end to the year, as persistent economic malaise and a lack of wage growth eat away at consumer confid... More »
People walk through a street in Tokyo’s Shinjuku district, Japan, September 29, 2016. Picture taken September 29, 2016. REUTERS/Toru Hanai Confidence among big Japanese manufacturers was flat in the three months to September and service-sector sentiment worsen... More »
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Bayliss More »
BERLIN Audi (VOWG_p.DE) sold 2.3 percent more cars in July on growing demand for the redesigned top-selling A4 saloon, though kept trailing behind German luxury rivals BMW (BMWG.DE) and Mercedes-Benz (DAIGn.DE). Audi’s global sales increased to 149,400 cars an... More »
BOSTON Billionaire investor David Einhorn’s Greenlight Capital added strong gains in July which helped increased the fund’s gains for the year since Jan. 1 to 5.7 percent after the stock market climbed, a person familiar with the firm’s returns said. Greenligh... More »
MILAN Italian bank Monte dei Paschi di Siena has secured underwriters to back a turnaround plan involving the sale of 9.2 billion euros ($10.3 billion) in bad loans and a 5 billion euros capital increase, the lender said in a statement on Friday. The country’s... More »
SEOUL South Korea’s economic growth was expected to show little improvement over April-June versus the first quarter in sequential terms, a Reuters poll found on Monday, as weak exports and capital investment continue to undermine growth. The economy was expec... More »
NEW YORK The world’s largest asset manager BlackRock Inc (BLK.N) has been buying roughly $275 million of its shares every quarter, a practice chief executive Larry Fink said could continue even though he has previously warned about the downside of share repurc... More »
For Walt Disney’s Peter Pan, flying was “all a matter of faith and trust.” Investors in Walt Disney Co showed a lack of both in the company’s stock on Wednesday. Disney’s shares fell 4.5 percent to $101.76 in morning trading and were the biggest drag on the Do... More »
ZURICH Credit Suisse (CSGN.S) predicted on Tuesday financial markets would remain tough, after the Swiss bank started the year with a quarterly loss for the first time since 2008 amid a major restructuring. The result, which comes as Chief Executive Tidjane Th... More »
HELSINKI Nokia’s (NOKIA.HE) mobile network equipment sales fell more than expected in the first quarter and will continue to decline this year, the Finnish company said, as customers hold off new orders while it integrates its purchase of rival Alcatel-Lucent.... More »
News Corp (NWSA.O), owner of the Wall Street Journal and book publisher HarperCollins, reported its fifth drop in quarterly revenue in a row as print ad sales declined and a strong dollar hit income from outside the United States. The 7.3 percent fall in reven... More »
Ruth Porat couldn’t have been clearer: Alphabet Inc’s chief financial officer said on Thursday that Google’s parent needed to step up investment to boost traffic. Analysts agreed. Investors weren’t so sure. The company’s shares closed down 5.46 percent at $737... More »
Melbourne Australia Post has successfully field-trialled the use of drones to deliver small packages, clearing the way for test deliveries to customer homes later this year. The state-owned corporation said the drones will be used for the delivery of online sh... More »
Piper Jaffray cut its rating on Wells Fargo & Co to “underweight” from “neutral” citing concerns about the bank’s credit costs. The downgrade comes a day after Wells Fargo reported a 7 percent decline in quarterly profit. The bank has set aside more than $1 bi... More »
SEOUL South Korea’s LG Electronics Inc said its first-quarter operating profit likely rose 66 percent, pointing to its best quarter in nearly two years with earnings apparently lifted by healthy appliance sales and falling television panel prices. The world’s ... More »
It is only April, but some on Wall Street are already predicting a rotten 2016 for U.S. banks. Analysts say it has been the worst start to the year since the financial crisis in 2007-2008 and expect poor first-quarter results when reporting begins this week. C... More »
FRANKFURT Europe’s largest software company, SAP (SAPG.DE), warned late on Friday that first-quarter results would be weaker than expected due to slower sales of software licenses to corporate customers, particularly in Brazil and the United States. Software l... More »
ZURICH Novartis took its campaign to invigorate sluggish sales of its new heart-failure medicine Entresto to a U.S. cardiologists meeting on Saturday, telling attendees that even clinically stable patients can benefit from the drug. Novartis, which forecasts E... More »
