BofA takes one-time tax hit, vows longer term boost
(Reuters) – Bank of America Corp’s quarterly profit nearly halved due to tax-related charges, though net income excluding that hit topped estimates and management promised the new U.S. tax system would eventually benefit shareholders.
Bitcoin slumps below $10,000, half its peak, as regulatory fears intensify
LONDON/TOKYO (Reuters) – Bitcoin skidded below $10,000 on Wednesday, halving in value from its peak price, with investors gripped by fears regulators could clamp down on the volatile cryptocurrency that sky-rocketed last year.
Tech stocks lead Wall Street higher; banks drop
(Reuters) – Wall Street’s main indexes were lifted by modest gains in technology stocks on Wednesday, led by Microsoft, IBM and Intel.
Utilities, mining boost U.S. industrial production
WASHINGTON (Reuters) – U.S. industrial production increased more than expected in December as unseasonably cold weather at the end of the month boosted demand for heating, but manufacturing output barely rose, pointing to moderate growth in the industr…
Rolls-Royce shares jump as commercial marine unit goes on block
LONDON (Reuters) – Britain’s Rolls-Royce is considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units.
Wall Street set to open higher with bank earnings in focus
(Reuters) – Wall Street’s main indexes were poised to open higher on Wednesday following strong results from Bank of America and a double upgrade on IBM.
UK PM May pressured to safeguard jobs after Carillion’s collapse
LONDON (Reuters) – Britain needs to allow more time for firms to take on 8,500 workers whose jobs are threatened by the demise of Carillion, unions said on Wednesday, as Prime Minister Theresa May faced criticism for the way the government outsources p…
Bank of America net profit slumps on $2.9 billion tax charge, adjusted income beats
(Reuters) – Bank of America Corp’s net profit nearly halved compared with a year earlier as it booked a $2.9 billion charge stemming from the new federal tax law although it beat analysts’ estimates when adjusted for the charge.
Goldman posts first quarterly loss in 6 years on tax hit; trading slumps
(Reuters) – Goldman Sachs Inc on Wednesday posted its first quarterly loss in six years on a huge tax charge but adjusted profit trumped analysts’ estimates, as strength in the investment banking business cushioned the blow from a slump in trading.
Rolls-Royce shares jump as commercial marine unit goes on the block
LONDON (Reuters) – Britain’s Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core unit…
