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U.S. airline, travel agency shares nosedive amid immigration ban turmoil
U.S. airline and online booking agency shares slumped for the second consecutive day on Tuesday, and some industry executives have begun speaking out against the Trump administration's ban on travel from seven majority See the original post here: U.S. airline, travel agency shares nosedive amid immigration ban turmoil Read More →
Trump pushes drugmakers for lower prices, more U.S. production
WASHINGTON/LOS ANGELES (Reuters) – U.S. President Donald Trump in a meeting on Tuesday with pharmaceutical executives called on them to manufacture more of their drugs in the United States and cut prices, while vowing to speed approval … The rest is here: Trump pushes drugmakers for lower prices, more U.S. production Read More →
Starbucks CEO Schultz plans to hire 10,000 refugees after Trump ban
Starbucks Corp Chief Executive Officer Howard Schultz said on Sunday that the company planned to hire 10,000 refugees over five years in 75 countries, two days after U.S. President Donald Trump's executive order banning refugees from certain countries. Trump on Friday put a four-month hold on allowing refugees into the United States and temporarily barred travelers from Syria and six other Muslim-majority... [Read more]
UBS hopes Trump-led rally will help boost wealth management
UBS hopes a Donald Trump-inspired rally in the United States will help boost earnings at its struggling wealth management business after posting a 47 percent fall in full-year net profit. With profit from its core wealth management business under pressure, the bank pointed to growing investor confidence in the United States towards the end of 2016 as a … See the original post here: UBS hopes... [Read more]
Microsoft profit up as demand for cloud service soars
Microsoft Corp reported a 3.6 percent rise in fiscal second-quarter profit on Thursday, helped by growth in its fast-growing cloud computing business, but it saw a slight decline in margins in the unit that includes its flagship cloud platform Azure. Since taking charge in 2014, Chief Executive Satya Nadella has… Read more: Microsoft profit up as demand for cloud service soars Read More →
Boeing sets cash flow record, lifts 2017 forecast for jet output
(Reuters) – Boeing Co said on Wednesday it expects to deliver between 760 and 765 commercial aircraft in 2017, topping 748 deliveries in 2016. The world's biggest maker of jetliners said it expects 2017 core earnings, which exclude some pension and other costs, of between $9.10 and $9.30 per share on revenue of $90.5 billion to $92.5 billion. Boeing forecast operating cash flow of about... [Read more]
Chinese court sentences former Sinopec president to 15 and half years in prison
BEIJING (Reuters) – A Chinese court has jailed Wang Tianpu, the former president of Sinopec Group, for 15 and a half years for graft, state television said on Tuesday citing a court verdict. Sinopec Group is the parent of oil major Sinopec Corp . (Reporting by View original here: Chinese court sentences former Sinopec president to 15 and half years in prison Read More →
Ford launches brand to sell auto parts to fix competitors’ vehicles
Ford Motor Co , in a bid for a piece of the rapidly growing global auto parts market, is launching a new brand called Omnicraft to sell parts to Ford dealers and independent repair shops to fix competitors' vehicles. Omnicraft joins Ford's established Motorcraft which makes parts for Ford vehicles. Frederiek Toney, president of Ford's customer service division, said the global business... [Read more]
Chief of Taiwan’s Foxconn says rise of protectionism unavoidable
The head of Foxconn, the world's largest contract manufacturer of electronic goods and a major Apple Inc supplier, said on Sunday that the rise of protectionism is unavoidable. Terry Gou, chairman of Foxconn, formally known as Hon Hai Precision Industry Co, warned that uncertainties for this year make it tough to have a very clear analysis and outlook, but he said it was clear politics would... [Read more]
TrailStone buys Cargill’s power and gas group: sources
Commodities trader and investor TrailStone Group has purchased Cargill Inc's gas and power trading group, three sources familiar with the deal said this week. The move, first reported by Sparkspread, comes amid a reshuffling in the power and natural gas industry as private equity firms and hedge funds pour into the space, filling a void left by banks and other longtime players. The banks and... [Read more]