Sweden's Ericsson posts Q3 loss, cites worsening industry
STOCKHOLM Swedish mobile networks company Ericsson said Friday that the decline across the industry has accelerated, contributing to a third-quarter loss for the company of 233 million kroner ($26.3 million). The figure compared with a net profit of 3.08 billion kronor during the same three-month period last year. Revenue dropped 14 percent to 51.1 billion kronor ($5.8 billion) from 59.2 billion kronor amid fierce Asian competition and a slowing telecom equipment market. It said "negative i..>> view originalDeutsche Bank Gets a Much-Needed Boost Working for Big Tobacco
In a year where little’s gone Deutsche Bank AG’s way, investment bankers at the German lender just got their biggest break so far.The firm is a lead financial adviser and sponsor on British American Tobacco Plc’s planned $47 billion takeover of Reynolds American Inc., its biggest deal of 2016. Deutsche Bank also told the London-based tobacco company it is “highly confident” it will be able to obtain financing commitments for the offer, according to a BAT statement released Friday.The deal has p..>> view originalGE Profit Falls as Revenue Growth Less Than Expected
General Electric Co.’s oil and gas business continued to weigh on revenue growth in the latest quarter, and the industrial giant said it would increase its stock-buyback program by $4 billion after disappointing Wall Street this year. The company also said it is continuing to operate in a “slow growth and volatile environment,” and shares fell...>> view originalTheresa May 'optimistic' of getting right Brexit deal for UK
Image copyright Reuters Image caption Mrs May said she had not been "backwards in coming forwards" at the summit Theresa May has predicted "difficult moments" ahead in Brexit negotiations but said she is "optimistic" she can get a deal "that is right for the UK".Speaking at a summit in Brussels, she said she felt it could be achieved, despite the continuing deadlock over a landmark EU-Canada trade deal .Mrs May said she had played an active role in di..>> view original11th US death related to Takata airbags reported by Honda
Requested Article 11th U.S. death related to Takata airbags reported by Honda U.S. regulators and American Honda have confirmed the 11th U.S. fatality linked to a ruptured Takata airbag inflator.>> view originalA Merger Between Qualcomm and NXP Could Be Announced Next Week
A deal between chipmakers Qualcomm and NXP Semiconductors could be announced as early as next week, according to a report that boosted both companies’ shares. Bloomberg reported Thursday that negotiations for Qualcomm’s qcom potential takeover of NXP nxpi were entering the final stretch, citing people familiar with the talks. The sources said the San Diego-based giant was about to complete a review of the Dutch semiconductor manufacturer’s operations and finances. An announcement ..>> view originalMcDonald's shares pop as investors cheer third-quarter beat
McDonald's shares jumped more than 2 percent Friday after it reported third-quarter earnings that topped Wall Street estimates, fueled by global same-store sales growth. McDonald's reported earnings of $1.28 billion, or $1.50 per share, on revenue of $6.42 billion. Analysts expected the burger chain to earn about $1.48 a share on $6.27 billion in revenue, according to a consensus estimate from Thomson Reuters. Still earnings were down from the $1.31 billion the company earned in last year..>> view originalDaimler Profit Lifted by E-Class Model Sales
BERLIN—Daimler AG reported sharply higher profit in the three months to the end of September, beating expectations as strong sales of its new E-class luxury model in China and sport-utility vehicles drove earnings at its flagship Mercedes-Benz cars. Mercedes-Benz, the company’s biggest division, saw continued strong demand for its luxury sedans in China, pushing sales higher and keeping Daimler on track to overtake rival BMW AG as...>> view originalWall St. drops on bleak GE outlook; Microsoft blunts losses
Wall Street fell sharply Friday morning as GE's comments on the economy and its disappointing forecast weighed on industrials stocks, but a rally in Microsoft and McDonald's helped limit losses.GE's (GE.N) shares were off 2.3 percent, weighing the most on the S&P, after the conglomerate lowered its full-year revenue growth target and narrowed its profit forecast.The company reported sluggish growth in its power business, its largest division, in the latest quarter and said slow economic growth..>> view originalSan Francisco lawsuit, NYC law highlight global risks for Airbnb
By Heather Somerville and Tina Bellon | SAN FRANCISCO/BERLIN SAN FRANCISCO/BERLIN Airbnb, the online lodging service that investors now believe is worth $30 billion, faces a reckoning.In eight years of torrid growth, the company has often clashed with local public officials seeking to minimize the impact of short-term rentals on neighborhoods and urban housing markets. Now, those simmering tensions are starting to boil.The New York state legislature has passed regulations that Airbnb says co..>> view original
Thursday, October 27, 2016
Sweden's Ericsson posts Q3 loss, cites worsening industry and other top stories.
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