Getting under the hood of Amazon’s auto ambitions
Amazon.com Inc is expanding its transportation prowess to do virtually everything short of building a car.
General Electric posts loss, cash flow takes Boeing hit
General Electric Co swung back to a financial loss in the second quarter, as the restructuring of its ailing power business drained more cash than expected from its otherwise profitable industrial unit.
EssilorLuxottica sets sights on retail dominance with $8 billion GrandVision deal
EssilorLuxottica is buying Dutch opticians group GrandVision for up to 7.2 billion euros ($8 billion) in cash to take control of thousands of stores where it sells spectacles and lenses.
Impossible Foods signs major meat supplier to make its plant-based burgers
Plant-based burger maker Impossible Foods on Wednesday announced a partnership with major meat supplier OSI Group [OSIGP.UL], a longtime producer of patties for fast-food chains, as it ramps up to meet demand from consumers and restaurants including Bu…
Directors of Australia’s Crown Resorts attack ‘deceitful campaign’ in letter
Casino operator Crown Resorts on Wednesday dismissed media reports that it flouted visa rules to bring Chinese gamblers to Australia after the government ordered an inquiry into immigration officials’ dealings with the company.
Increasingly cautious global funds build cash buffer; cut equities: Reuters poll
“More caution” was the mantra of global fund managers in July, with recommended equity allocations cut to the lowest since early 2017 and suggested cash holdings increased to the highest in five months, a Reuters poll showed.
Oil rises for fifth session as stockpiles fall and market awaits Fed
Oil prices rose for a fifth day on Wednesday, supported by a drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time since the financial crisis more than a decade ago.
Lloyds Bank plays down Brexit fears as mis-selling charge hits profits again
Lloyds Banking Group played down mounting concerns about Britain’s Brexit crisis as it missed first-half profit forecasts due to a much larger than expected charge for mis-selling insurance.
Trade tensions weigh on stocks as markets await Fed verdict
Fresh trade war fears weighed on global stocks on Wednesday ahead of a U.S. Federal Reserve meeting with the dollar holding firm and Britain’s pound subdued amid rising fears of no-deal Brexit.
Credit Suisse hails cost discipline as net profit jumps 45%
Credit Suisse posted its highest quarterly earnings in four years on Wednesday, hailing frugal cost management as paying off in a tough environment.
