Spotify falls just short on revenue, sending shares tumbling
LONDON/BENGALURU (Reuters) – Spotify Technology SA shares dropped as much as 9 percent after the streaming music leader’s subscriber outlook and quarterly revenue fell just short of analyst estimates in its first report as a public company.
U.S. judge OK’s gun maker Remington’s bankruptcy plan
NEW YORK (Reuters) – Remington Outdoor Company Inc won approval for its bankruptcy plan on Wednesday, paving the way for the arms maker to slash debt, boost its cash position and better weather the uncertain climate for firearms in the United States.
Amazon makes bid to spoil Walmart-Flipkart deal: report
BENGALURU/MUMBAI (Reuters) – Amazon.com Inc has made a formal offer to buy 60 percent of Flipkart, CNBC-TV18 reported on Wednesday, potentially complicating Walmart Inc’s bid for majority ownership of the Indian online retailer.
Cambridge Analytica and British parent shut down after Facebook scandal
(Reuters) – Cambridge Analytica, the firm embroiled in a controversy over its handling of Facebook Inc user data, and its British parent SCL Elections Ltd, are shutting down immediately after suffering a sharp drop in business, the company said on Wedn…
Tesla says Model 3 production on track, will curb spending in 2018
SAN FRANCISCO (Reuters) – Tesla Inc stood by its production targets for its Model 3 on Wednesday, assuring investors that its key new vehicle was on track, and sought to downplay increased wariness over its finances, saying it expected to achieve net p…
MetLife quarterly profit rises 8 percent, helped by tax reform, Asia growth
(Reuters) – MetLife Inc reported an 8 percent rise in adjusted first-quarter profit on Wednesday, boosted by U.S. tax reforms, as well as volume growth in Asia and better results in auto and catastrophe businesses.
Three members of U.S. Federal Trade Commission sworn in
WASHINGTON (Reuters) – Three members of the Federal Trade Commission were sworn in on Wednesday, bringing the agency to full staffing at the top for the first time since mid-2015.
Poorest U.S. consumers seen hit hard by T-Mobile, Sprint merger
(Reuters) – The poorest U.S. consumers would lose most from the proposed tie-up of wireless carriers T-Mobile US Inc and Sprint Corp , according to consumer advocates who warned the combined company would raise fees for pre-paid and other low-cost mob…
Wall Street loses gains from Fed decision on China trade worries
NEW YORK (Reuters) – U.S. stocks fell on Wednesday as potential U.S. restrictions on Chinese telecom companies reinforced investor concerns about worsening trade relations between the United States and China.
Spotify revenue just shy of Wall Street estimate, shares drop
LONDON/BENGALURU (Reuters) – Music streaming leader Spotify Technology on Wednesday posted quarterly revenue just below Wall Street’s average estimate in its first report as a publicly traded company, sending its shares down 9 percent in after-hours t…
