Shares of UPS, FedEx fall after report Amazon to launch delivery service
(Reuters) – United Parcel Service Inc and FedEx Corp shares fell 2 percent on Friday, after a report said Amazon.com Inc is preparing to launch a delivery service for businesses, which would directly compete with the U.S. package delivery companies.
Frenzied demand for Nvidia’s graphic chips shoot prices through the roof
(Reuters) – Nvidia Corp’s graphic processors, or GPUs, are so overwhelmingly popular that gamers and cryptocurrency miners are willing to pay up to three times the original list price to get their hands on its cards online.
Wall Street bounces back 1 percent after Thursday’s slump
(Reuters) – Wall Street’s three main indexes rose more than 1 percent on Friday, bouncing back from a steep selloff this week that pushed the Dow Jones Industrial Average and the S&P 500 into correction territory.
Former Credit Suisse ‘star’ gets five years in jail for fraud
GENEVA (Reuters) – Former Credit Suisse wealth manager Patrice Lescaudron was sentenced to five years in prison by a Geneva court on Friday for abusing the trust of clients and creating a fraudulent scheme that made him tens of millions of Swiss francs…
Airlines body eyes bankruptcy law review to reduce stranded passengers
BERLIN (Reuters) – After some high-profile airline insolvencies in Europe last year, an industry trade body said countries should review bankruptcy laws to reduce the number of stranded passengers, but rejected the idea of a rescue fund to repatriate c…
Bitcoin may not be worth all the hoopla: N.Y. Fed blog post
NEW YORK (Reuters) – Bitcoin and other digital currencies have, so far, not been formidable competition for cash, checks or credit cards as a payment method in the United States and other major economies, according to two economists at New York Federal…
Former Credit Suisse ‘star’ gets five-year jail term for ‘clever fraud’
GENEVA (Reuters) – Former Credit Suisse client adviser Patrice Lescaudron was sentenced to five years imprisonment by a Geneva court on Friday for abusing the trust of clients and putting in place a fraudulent scheme that brought him tens of millions …
Oil slides towards weekly loss on excess supply worries
LONDON (Reuters) – Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly loss in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies.
Expedia shares sink after disappointing 2018 forecast
(Reuters) – Shares of U.S. online travel services company Expedia fell 16 percent in premarket trading on Friday, after forecasting 2018 selling and marketing costs would outpace revenue growth as it battles rivals for market share.
Wall Street on course for worst week in six years
(Reuters) – U.S. stock markets were set to open flat to lower on Friday, putting both the S&P 500 and Dow Jones Industrial Average on course for their biggest weekly losses in at least six years.
