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…
UAW president to GM: We invested in you, now invest in us
DETROIT (Reuters) – The UAW and General Motors Co (GM.N) on Tuesday formally kicked off contract talks, with the union’s president calling on the automaker to keep open plants it…
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.…
Facebook should not be trusted with ‘crazy’ cryptocurrency plan: senators
WASHINGTON (Reuters) – Democratic and Republican lawmakers said on Tuesday that Facebook Inc’s track record of what they described as untrustworthiness should stand in the way of it launching a…
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,…
Opioid ‘kingpin’ J&J fueled epidemic, Oklahoma argues at trial’s end
NORMAN, Okla. (Reuters) – Lawyers for the state of Oklahoma on Monday compared Johnson & Johnson (JNJ.N) to a drug cartel leader as they sought to hold the drugmaker responsible…
Amazon rivals ride on Prime Day marketing as protests unfold
NEW YORK (Reuters) – Amazon.com Inc’s Prime Day is now a major marketing opportunity and shopping event in the annual calendar for other U.S. retail companies, rivaling the Thanksgiving holiday’s…
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…
Citigroup profit beats estimates on gains in consumer lending
(Reuters) – Citigroup Inc topped expectations for quarterly profit on Monday as a tight lid on costs and strength in consumer lending helped the third-largest U.S. bank counter weakness in…
Volkswagen zooms ahead in extension of alliance with Ford to electric, automated cars
, NEW YORK (Reuters) – Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global…