sydney

BlackRock quarterly profit rises 3.8 percent

(Reuters) – BlackRock Inc, the world's largest asset manager, reported a better-than-expected quarterly profit, showing resilience in what has been a weak market for many traditional asset managers. BlackRock attracted total “long-term” net flows of $55.18 billion in the latest quarter, up from $35 billion a year earlier. On an adjusted basis, BlackRock earned $5.14 per share, beating the average analyst …

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BlackRock quarterly profit rises 3.8 percent

sydney

Domino’s revenue jumps more than expected

(Reuters) – Domino's Pizza Inc on Tuesday reported a bigger-than-expected 17 percent jump in quarterly revenue as its U.S. division overcame intense competition that is taking a bite out of industry sales.

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Domino’s revenue jumps more than expected

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Fans cheer, but Asia gives iPhone 7 subdued welcome

By Adam Jourdan and Tom Westbrook SHANGHAI/SYDNEY (Reuters) – Apple Inc fans from Sydney to Shanghai, the first customers worldwide to snap the new iPhone 7 off the shelves, cheered as they left stores on Friday brandishing their purchases, flanked

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Fans cheer, but Asia gives iPhone 7 subdued welcome

sydney

Oil edges lower amid scepticism about output freeze

Oil prices inched lower on Wednesday as market participants remained skeptical that producers will reach an agreement to freeze output to rein in a global supply glut. London Brent crude for November delivery was down 4 cents at $47.22 a barrel by 2018 EST,

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Oil edges lower amid scepticism about output freeze

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U.S. judge grants Hanjin temporary protection from U.S. creditors

Korean shipping line Hanjin Shipping Co Ltd won an order on Tuesday from a U.S. judge extending bankruptcy protections so its vessels can dock at U.S. ports without fear creditors will try take actions against the ships as they have in other countries. U.S. Bankruptcy Judge John Sherwood approved a motion by the world's seventh largest container carrier that sought to extend to the United States the protection from creditors that…

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U.S. judge grants Hanjin temporary protection from U.S. creditors

sydney

Fed’s Williams sees ‘unsustainable tension’ on pot-related banking

RENO, Nev. (Reuters) – As more and more states legalize the use of marijuana, which is banned under U.S. federal laws, banks are facing “unsustainable tension” that needs to be resolved by Congress, San Francisco Fed President John Williams said on Tuesday. “This is a big issue for this country,” Williams said…

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Fed’s Williams sees ‘unsustainable tension’ on pot-related banking

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Bosch concealed Volkswagen use of ‘defeat device’ software: lawyers

By David Shepardson WASHINGTON (Reuters) – Auto supplier Robert Bosch GmbH [ROBG.UL] concealed the use of Volkswagen AG's secret “defeat device” software that it helped design and demanded in 2008 that the German automaker provide legal protection in its use, lawyers for American owners alleged in a court filing. The filing on Friday in U.S. District Court in San Francisco expands on claims plaintiffs lawyers made in August, when they alleged Bosch was a “knowing and active participant” in Volkswagen's decade-long scheme to…

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Bosch concealed Volkswagen use of ‘defeat device’ software: lawyers

sydney

Financial stability should not become Fed’s third mandate: Mester

Maintaining stability in financial markets should not be an explicit goal for the Federal Reserve, which should use interest rates to head off a crisis only if more precise and better-suited tools fail, a top Fed official said on Tuesday. “If our macroprudential tools proved…

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Financial stability should not become Fed’s third mandate: Mester

sydney

Samsung takes fight to Apple with mobile wallet strategy

By Matt Siegel and Se Young Lee SYDNEY/SEOUL (Reuters) – Smartphone leader Samsung Electronics has for years been a spectator as Apple built a services “ecosystem” supporting its products. For

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Samsung takes fight to Apple with mobile wallet strategy