Business News

Snap CFO Tim Stone to resign less than a year into role

(Reuters) - Snapchat app-owner Snap Inc (SNAP.N) said on Tuesday Chief Financial Officer Tim Stone will be leaving the company, less than a year after assuming charge in the latest top-level exit. Stone, who is leaving to pursue other opportunities, will continue in the role through scheduled full-year 2018 results and to assist in the search for a replacement, the company said in a filing bit.ly/2McCRIt on Tuesday. ...

15 Jan 10:59 PM 0 Read More...

PG&E plunges for second day after step toward bankruptcy

(Reuters) - PG&E Corp’s shares and bonds fell sharply for a second day on Tuesday, as a failure to make interest payments by the California power utility added to investor nerves following the company’s plans to seek Chapter 11 bankruptcy protection. The state’s biggest private utility’s shares have lost 71 percent of their value since the start of January, when the company began exploring options for pro...

15 Jan 10:59 PM 0 Read More...

United profit beats forecasts as new flights from hubs pay off

CHICAGO (Reuters) - United Airlines on Tuesday reported a fourth-quarter profit that easily beat Wall Street forecasts, sending shares higher, as the No. 3 U.S. carrier scheduled more flights out of its hubs and won back customers after a series of public relations disasters. Shares of United Continental Holdings Inc (UAL.O) jumped 6 percent to $86.11 in extended trading, lifting the airline sector and investor confi...

15 Jan 10:59 PM 0 Read More...

China hopes boost stocks, pound near two-month top before Brexit vote

LONDON (Reuters) - Chinese stimulus hopes lifted world stocks on Tuesday, while Britain’s pound huddled near a two-month high as the UK’s parliament readied for a “meaningful” vote on Prime Minister Theresa May’s unpopular Brexit plans. Most European markets were in buoyant form early on – feeding off attempts by Washington and Beijing to downplay the risks associated with their trade war and sterling’s...

15 Jan 12:49 PM 0 Read More...

Delta growth to slow further in first quarter, shares dip

(Reuters) - Delta Air Lines Inc (DAL.N) on Tuesday forecast a further fall in unit revenue growth in the first quarter of 2019, adding to growing concerns about airlines’ ability to raise fares in an uncertain global economy. The United States’ second largest airline reported quarterly revenue in line with analysts’ estimates and profit that was topped consensus by 3 cents per share. But it forecast year-on-yea...

15 Jan 12:49 PM 0 Read More...

Living the tech dream, thanks to a novel apprenticeship program

NEW YORK (Reuters) - While growing up in Seattle, Enrique Rico’s mom cleaned the posh homes of Microsoft employees. When Rico tagged along on sick days from school, he dreamed of having the life of a technology worker. Now, at 26, with no college degree or background in STEM, Rico is working a developer at Avvo, an online marketplace for legal services. He is a graduate of a program called Apprenti that provides e...

15 Jan 12:49 PM 0 Read More...

Tokyo court denies request for Nissan Ghosn’s release on bail

TOKYO (Reuters) – The Tokyo District Court on Tuesday denied former Nissan Motor Co Ltd Chairman Carlos Ghosn’s request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust. Ghosn awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on Nov. 19. Last week, Ghosn was indicted for aggravated breach of tr...

15 Jan 10:39 AM 0 Read More...

Tokyo court denies request for Nissan Ghosn's release on bail

TOKYO (Reuters) - The Tokyo District Court on Tuesday denied former Nissan Motor Co Ltd Chairman Carlos Ghosn’s request for release on bail after his indictment last week on two new charges, including for aggravated breach of trust. Ghosn awaits a lengthy criminal trial that could be as long as six months away, after his surprise arrest on Nov. 19. Last week, Ghosn was indicted for aggravated breach of trust for te...

15 Jan 7:44 AM 0 Read More...

Oil up 1 percent amid supply cuts, but China slowdown weighs on demand outlook

SINGAPORE (Reuters) - Oil prices rose by more than 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand. International Brent crude oil futures LCOc1 were at $59.80 per barrel at 0628 GMT, up 81 cents, or 1.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $51.21 per barrel...

15 Jan 7:44 AM 0 Read More...

Asia shares up on hopes for China stimulus, Brexit vote awaited

TOKYO (Reuters) - Asian stocks rose on Tuesday, supported by a bounce in Chinese shares amid hopes for government stimulus, while sterling braced for the vote in parliament over the British government’s plan to exit the European Union. The odds look stacked against Prime Minister Theresa May winning approval for her deal. Voting is expected to start about 1900 GMT Tuesday. Spreadbetters expected European stocks t...

15 Jan 7:44 AM 0 Read More...