Business News

South Korea takes more cautious view on GM Korea turnaround than U.S. automaker

SEOUL (Reuters) - General Motors’ (GM.N) South Korean unit is expected to swing to a profit from 2022, state-run Korea Development Bank (KDB) said on Friday, offering a more subdued outlook for the troubled unit compared with the U.S. automaker which sees a profit from 2019. FILE PHOTO: Employees work at an assembly line of GM Korea's Bupyeong plant in Incheon, South Korea March 29, 2018. REUTERS/Kim Hong-Ji/File P...

11 May 6:04 AM 0 Read More...

Nestle falls behind as millennials warm up to frozen meals

Solon, OHIO (Reuters) - At Nestle’s $50 million research center outside Cleveland, food technicians and packaging experts set out three years ago to remake its frozen food lineup and appeal more to busy, health-conscious adults in their 20s and 30s. FILE PHOTO: The Nestle logo is seen during the opening of the 151st Annual General Meeting of Nestle in Lausanne, Switzerland April 12, 2018. REUTERS/Pierre Albouy/File...

11 May 6:04 AM 0 Read More...

Wall Street rallies and Apple approaches $1 trillion value

(Reuters) - Wall Street jumped on Thursday, and Apple inched closer to a $1 trillion stock market value, as tepid inflation data eased worries of faster U.S. interest rate hikes this year. Fueled by a $100 billion buyback plan unveiled last week, Apple rose 1.43 percent to a record high close of $190.04, lifting the S&P 500 more than any other stock. The iPhone maker is about 7 percent away from becoming the firs...

11 May 12:59 AM 0 Read More...

News Corp revenue beats as digital push pays off

(Reuters) - News Corp (NWSA.O), controlled by media mogul Rupert Murdoch, topped analysts’ estimates for quarterly revenue on Thursday as the company benefited from a rise in online subscriptions and strong performance in its digitial real estate business. FILE PHOTO: The Fox News electronic ticker is seen outside the News Corporation building in New York City, in New York, U.S., November 8, 2017. REUTERS/Shann...

11 May 12:59 AM 0 Read More...

Dropbox tops estimates in first results since IPO

(Reuters) - File sharing and storage company Dropbox Inc (DBX.O) beat Wall Street expectations for quarterly results and topped estimates for paying subscribers in its first financial report as a publicly traded company. FILE PHOTO: The Dropbox app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/Illustration/File PhotoHowever, the company’s shares, which had gained 10...

11 May 12:59 AM 0 Read More...

Wall Street rallies and Apple reaches record high

(Reuters) - Wall Street jumped on Thursday, and Apple hit a record high, as tepid inflation data eased worries of faster interest rate hikes this year. FILE PHOTO: People walk on Wall Street in front of the New York Stock Exchange (NYSE) in New York, U.S., February 6, 2018. REUTERS/Brendan McDermid/File PhotoThe U.S. Labor Department’s consumer price index increased 0.2 percent in April, less than economists’ exp...

10 May 7:56 PM 0 Read More...

Bank of America affirms gun pledge, hints at Remington loan exit

WILMINGTON, Del. (Reuters) - Bank of America said on Thursday it was standing by its pledge to stop financing civilian assault weapons and suggested it may be preparing to exit a loan for gun maker Remington Outdoor Corp that sparked criticism of the lender. A boy aims a Remington firearm at the annual National Rifle Association (NRA) meeting in Dallas, Texas, U.S., May 4, 2018. REUTERS/Adrees LatifThe statement by V...

10 May 7:56 PM 0 Read More...

Trump drug-pricing speech adds dose of uncertainty for healthcare investors

NEW YORK (Reuters) - Investors are bracing for widespread volatility in healthcare stocks on Friday, when U.S. President Donald Trump is expected to give a highly anticipated speech about controlling prescription drug prices. U.S. President Donald Trump participates in a celebration of military mothers and spouses at the White House in Washington, U.S., May 9, 2018. REUTERS/Leah MillisThe S&P 500 healthcare secto...

10 May 7:55 PM 0 Read More...

Tax cut helping turn U.S. small caps into unlikely source of safety

NEW YORK (Reuters) - The Republican-led corporate tax cut is helping turn the shares of smaller publicly-traded companies in the United States into an unexpected source of stability as the broader stock market wobbles. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2018. REUTERS/Brendan McDermidTypically, the shares of small and mid cap companies in the Russell 2000 index ...

10 May 7:55 PM 0 Read More...

Embraer breakup complications are delaying its deal with Boeing: sources

SAO PAULO (Reuters) - The tricky work of divvying up the three business segments of Brazilian planemaker Embraer SA (EMBR3.SA) has been delaying an agreement to combine operations with Boeing Co (BA.N), three people with knowledge of the matter said this week. FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company's headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Rooseve...

10 May 7:55 PM 0 Read More...