JPMorgan boosts profit outlook as CFO talks ‘digital everything’
(Reuters) – JPMorgan Chase & Co offered a sunny business outlook on Tuesday, saying higher interest rates, increased automation and growth in all of its business units could boost pretax profit by 17.5 percent over the next few years.
Ford and GM to meet U.S. trade officials on Tuesday: sources
WASHINGTON (Reuters) – U.S. trade officials will meet automakers Ford and General Motors on Tuesday, two sources said, after a negotiator returned from NAFTA talks in Mexico for consultations about rules governing the thorny issue of regional content…
U.S. Supreme Court wrestles with Microsoft privacy fight
WASHINGTON (Reuters) – Supreme Court justices on Tuesday appeared unsure how to resolve a dispute between Microsoft Corp and the Justice Department over whether U.S. law should allow prosecutors to compel technology companies to hand over data stored o…
Tax overhaul shaves U.S. bank profits 40.9 percent in fourth quarter: FDIC
WASHINGTON (Reuters) – U.S. bank profits were down 40.9 percent in the fourth quarter of 2017 from a year earlier, due primarily to one-time accounting changes from the new tax law which is expected to boost profits in the long run, the Federal Deposit…
Comcast’s $31 billion Sky bid crashes Murdoch and Disney show
LONDON (Reuters) – U.S. cable giant Comcast Corp has offered $31 billion for Sky Plc , threatening a plan hatched by Rupert Murdoch’s Twenty-First Century Fox Inc and Walt Disney Co to seize control of Europe’s biggest pay-TV group.
Wall Street flat with Powell’s testimony in focus
(Reuters) – U.S. stocks were little changed on Tuesday, with losses in media stocks weighing on major indexes, while investors braced for Federal Reserve Chairman Jerome Powell’s first congressional testimony.
Fed’s Powell nods to ‘gradual’ rate increases, close eye on inflation
WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell, pledging to “strike a balance” between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual…
White House reaches informal deal with Boeing for Air Force One
WASHINGTON (Reuters) – U.S. President Donald Trump has reached an agreement with the Boeing Co to provide two Air Force One planes for $3.9 billion, the White House said on Tuesday.
Higher home sales, prices drive Toll Brothers profit beat
(Reuters) – U.S. luxury homebuilder Toll Brothers Inc reported a first-quarter profit on Tuesday that beat analysts’ estimates as it sold more homes at higher prices, easing some concerns about a slowdown in the housing industry.
Macy’s shares surge on comparable sales growth, 2018 outlook
NEW YORK (Reuters) – Macy’s Inc on Tuesday reported greater-than-expected growth in same-store sales for the fourth quarter and forecast a return to annual comparable sales growth in 2018, sending its shares up more than 11 percent in early trading.
