Big banks beat profit expectations but warning signs grow
(Reuters) – Three big U.S. banks reported strong earnings on Tuesday even as warning signs emerged that the playing field is beginning to tilt against the financial industry. While the…
U.S. retail sales ease fears over economy; rate cut still seen
WASHINGTON (Reuters) – U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the drag on the economy from…
Tesla drops cheapest Model X, S variants, cuts prices to simplify lineup
BEIJING (Reuters) – Tesla Inc (TSLA.O) has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a…
Wells Fargo tempers cost-cutting outlook
(Reuters) – Wells Fargo & Co reported higher quarterly earnings on Tuesday, due in part to lower expenses, but the bank reined in its outlook for cost cuts to invest…
JPMorgan beats profit estimates but shows signs of pressure
(Reuters) – JPMorgan Chase & Co (JPM.N) reported a quarterly profit that beat estimates on Tuesday as higher interest income and consumer lending offset lower activity at its trading desks.…
U.S. retail sales data dents stocks, lifts Treasury yields
NEW YORK (Reuters) – A gauge of global equities lost ground on Tuesday and U.S. Treasury yields moved higher as a stronger-than-anticipated report on retail sales raised the possibility the…
Exclusive: Canada set to postpone Huawei 5G decision to after vote, given sour ties with China – sources
OTTAWA (Reuters) – Canada is likely to postpone a decision on whether to allow China’s Huawei Technologies Co Ltd to supply 5G network equipment until after the October federal election,…
Trump sees slowing Chinese growth pressuring Beijing on trade
WASHINGTON (Reuters) – U.S. President Donald Trump on Monday seized on slowing economic growth in China as evidence that U.S. tariffs were having “a major effect” and warned that Washington…
China data steadies stocks as U.S. earnings get underway
NEW YORK (Reuters) – A gauge of global stocks rose modestly on Monday after economic data from China came in as expected, but equities on Wall Street slipped on weakness…
Gilead invests $5 billion to deepen ties with biotech Galapagos
(Reuters) – U.S. antiviral drugmaker Gilead Sciences (GILD.O) will invest $5.1 billion in a major expansion of its partnership with Belgo-Dutch biotech Galapagos NV (GLPG.AS), news that lifted Galapagos’s shares…