AmEx rewards program costs cloud strong quarterly results
American Express Co reported a steep rise in quarterly expenses as the credit card issuer spent more to fund its rewards program, overshadowing its profit beat and sending its shares down 3.5 percent in extended trading.
U.S. proposes expedited appeal in fight with AT&T over purchase of Time Warner
The U.S. Justice Department has proposed an expedited schedule for an appeal of a judge’s ruling that allowed AT&T Inc to buy movie and TV show maker Time Warner, according to a court filing on Wednesday.
World stocks climb to month peak, U.S. dollar hits three-week high
Stocks on major world markets climbed to a one-month high on Wednesday after a raft of strong corporate earnings, while the U.S. dollar hit a three-week high against major currencies.
Europe hits Google with record $5 billion antitrust fine, appeal ahead
European antitrust regulators fined Google a record 4.34 billion euro ($5 billion) on Wednesday and ordered it to stop using its popular Android mobile operating system to block rivals, a ruling which the U.S. tech company said it would appeal.
IBM quarterly results top estimates
International Business Machines Corp on Wednesday reported second-quarter profit and revenue that topped analysts’ expectations as it benefited from growth in higher-margin businesses including cybersecurity and cloud computing.
Exclusive: Investment firms fight to inject cash in Brazil carrier Oi
Three distressed asset funds have sued for the right to participate in a 4 billion reais ($1 billion) capital increase for Brazilian telecom Oi SA as part of its in-court restructuring, four sources with knowledge of the matter told Reuters this week….
Trump says EU officials want to negotiate trade deal in Washington visit
U.S. President Donald Trump said on Wednesday that European leaders were coming to Washington next week to try to hammer out a deal focused largely on car tariffs, while his top economic adviser accused Chinese President Xi Jinping of holding up a U.S….
U.S. tariffs could raise vehicle prices by $83 billion: auto trade group
A group representing major automakers will tell the U.S. Commerce Department on Thursday that imposing tariffs of 25 percent on imported cars and parts would raise the price of U.S. vehicles by $83 billion annually and would cost hundreds of thousands …
Farnborough rolls out stealth orders for commercial jets
The Farnborough Airshow is typically one of the world’s most publicity-focused business events, with plane giants and airline bosses battling to win headlines for deals signed under the roar of stealth fighter displays.
S&P 500 hits over five-month high on solid earnings
The S&P 500 hit a five-month high on Wednesday as solid earnings boosted financial and industrial stocks and reinforced expectations for a strong second-quarter reporting season.
