BlackRock profit beats on demand for low-risk funds
BlackRock Inc reported a better-than-expected quarterly profit on Tuesday, as more people poured money in its low-risk funds amid heightened trade tensions between Beijing and Washington.
Morgan Stanley profit beats on strength in equity trading, underwriting
Morgan Stanley reported a better-than-expected quarterly profit on Tuesday, driven by higher revenue in its stock trading and equity underwriting businesses.
Walmart lowers earnings outlook to account for Flipkart acquisition
Walmart Inc lowered its earnings forecast for the year on Tuesday to include the impact from its acquisition of Indian e-commerce company Flipkart, and said its e-commerce growth next year will be slower than the current fiscal year.
Wells Fargo seeks to create Paris hub as part of Brexit plan
Wells Fargo & Co said on Tuesday it has applied for an investment firm license in France as part of its Brexit strategy.
Sears faces tough foe: an unforgiving bankruptcy code
When Sears Holdings Corp filed for Chapter 11 bankruptcy on Monday, it said it would close another 142 unprofitable Sears and Kmart locations and seek to reorganize around financially healthier stores. It also triggered a “time bomb” that retailers hav…
HSBC UK hit with another IT glitch
HSBC UK said on Tuesday some of its customers were struggling to access online banking, the second outage of the lender’s digital services in weeks.
Softbank pushes link-ups as insurance strategy takes shape
Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters.
Tod’s chairman denies speculation of group’s possible sale
The chairman of luxury company Tod’s Diego Della Valle denied speculation over the possible sale of the group, whose majority is owned by his family.
German carmakers have 50:50 chance of facing Detroit’s fate, VW says
German carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform their businesses to meet new regulations and adapt supply chains, Volkswagen’s chief executive said on Tuesday.
Musk says Tesla owners who ordered full self-driving version to get chip upgrade
Tesla Inc Chief Executive Officer Elon Musk said a new chip that improves autopilot features would be available six months in advance to people who ordered the full self-driving version of the electric cars.
