Wall St. set to open higher after Microsoft’s beat, rate cut bets rise
Wall Street was set to open higher on Friday as solid results from Microsoft fed into a bullish mood following signs from New York Fed President John Williams that the U.S. central bank was set to cut interest rates this month.
BlackRock profit misses estimates, hit by lower fees for lending stocks
BlackRock Inc , the world’s largest asset manager, took in less cash last quarter as investors moved into lower-cost bond funds, and it made less money lending out stocks.
AB InBev sells Australian brewer to Asahi, keeps Asia IPO on radar
Anheuser-Busch InBev , the world’s largest brewer, is selling its Australian operations to Japan’s Asahi for $11 billion and could revive the stalled flotation of its Asian business as it looks to cut debt.
AmEx beats profit on higher card spending; expenses a worry
Credit card issuer American Express Co beat analysts’ estimates for quarterly profit on Friday, as a healthy U.S. economy fueled higher spending by its customers.
Fed rate cut bets buoy stocks, dollar steadies
Global stocks rose on Friday as investors firmed up bets on a U.S. interest rate cut at the end of July after a speech by a top Federal Reserve official further cemented expectations for one, fuelling appetite for risky assets and capping the dollar.
BlackRock’s profit hit by lower fees for lending stocks
BlackRock Inc , the world’s largest asset manager, took in less cash last quarter as investors moved into lower-cost bond funds, and it made less money lending out stocks.
Microsoft brightens Wall St. mood as rate cut hopes rise
U.S. stock futures inched higher on Friday as strong results for Microsoft’s cloud business fed into a bullish mood following signs from New York Fed President John Williams that the U.S. central bank was set to cut interest rates this month.
Syngenta profits hit by U.S./China trade wars, bad weather
Agricultural chemical maker Syngenta on Friday reported a 34% fall in first-half net income, showing the impact of U.S. trade disputes with China and Mexico as well as bad weather in some of its markets.
BlackRock second-quarter profit misses estimates
BlackRock Inc , the world’s largest asset manager, missed analysts’ estimates for quarterly profit on Friday, as investment advisory and securities lending revenue fell and costs rose.
As ‘superstar’ cities keep winning, worrisome U.S. divide widens
In the depths of the financial crisis, when the world was shunning debt and battening down for the worst, city officials here zagged in what seemed a preposterous direction and spent $600 million on a new convention center.
