U.S. bank executives see delayed boost from tax overhaul
NEW YORK (Reuters) – Banks have not reaped the full benefit of U.S. tax cuts, Wall Street executives said on Friday after a string of quarterly results, with expected business growth and higher consumer spending yet to materialize.
WPP’s Sorrell to attend board meeting as investigation continues: source
LONDON (Reuters) – WPP Chief Executive Martin Sorrell is expected to attend a long-planned board meeting next Tuesday despite an ongoing investigation into an allegation of misconduct that was ordered by the directors, a person familiar with his plans…
Wells Fargo faces $1 billion fine from loan abuses
(Reuters) – Two U.S. regulators have proposed Wells Fargo & Co pay $1 billion in penalties to resolve probes into auto insurance and mortgage lending abuses at the third largest U.S. bank, overshadowing its first quarter results.
Volkswagen’s new CEO treads carefully on road to reform
WOLFSBURG/BERLIN, Germany (Reuters) – Volkswagen’s new Chief Executive Herbert Diess embarked on the most far-reaching shake-up in the carmaker’s history on Friday, seeking to unite a company whose feuding factions have often slowed reform.
Wall St. drops as JPMorgan leads bank stocks lower
(Reuters) – Banks led a slide in U.S. stocks on Friday, as results from big lenders including JPMorgan failed to enthuse investors keeping a wary eye on Russia’s plan to consider banning some U.S. imports.
JPMorgan profit just below estimates on weak investment banking
(Reuters) – JPMorgan Chase & Co’s quarterly profit fell short of Wall Street expectations on Friday as lower revenue from investment banking ate into gains from stock trading and higher interest rates.
Musk says Tesla will be profitable in third-quarter, fourth-quarter
(Reuters) – Tesla Inc will be profitable in the third and fourth quarters of this year and will not have to raise any money from investors, billionaire Chief Executive Elon Musk said on Friday, driving shares in the electric carmaker higher.
Wall St. opens higher after strong big banks earnings
(Reuters) – U.S. stocks opened higher on Friday after a trio of big banks reported strong quarterly results, while geopolitical risks and concerns over trade war eased.
Futures jump as big banks earnings lift sentiment
(Reuters) – U.S. stock index futures rose more than half a percent on Friday after a trio of big banks reported strong quarterly results, while geopolitical risks and concerns over trade war eased.
Tesla to be profitable in third-quarter, fourth-quarter: Musk tweets
(Reuters) – Silicon valley billionaire Elon Musk said on Friday his Tesla Inc company will not need to raise any money this year because the electric car maker will have positive cash flow and be profitable in the third and fourth quarter.
