U.S. probe into UAW training center funds extends to GM, Ford
WASHINGTON (Reuters) – General Motors Co and Ford Motor Co confirmed Thursday they are cooperating with an expanded Justice Department probe into alleged misspending at United Auto Workers union training centers funded by U.S. automakers.
Starbucks sales disappoint and shares drop 6 percent
(Reuters) – Starbucks Corp reported disappointing quarterly results on Thursday, after hurricanes cooled sales and amid a bitter battle with competitors ranging from boutique coffee seller Intelligentsia to lower-price rivals like McDonald’s.
AIG swings to quarterly loss, adds $836 million to reserves
NEW YORK (Reuters) – American International Group Inc posted a bigger-than-expected quarterly loss on Thursday as the insurer booked huge catastrophe losses, and said it had set aside $836 million to meet losses related to prior-year accident claims.
Apple sees holiday-quarter sales above Wall St., shares rise
(Reuters) – Apple Inc forecast revenue for the holiday shopping-quarter largely above market expectations, allaying investor concerns about production delays on the eve of the launch of the highly anticipated iPhone X.
S&P flat after tax cut plan; Dow climbs to record
(Reuters) – Wall Street’s Dow industrials climbed to a record high on Thursday while losses in Facebook kept the S&P 500 and the Nasdaq in check as investors assessed the long-awaited tax cut plan unveiled by U.S. President Donald Trump’s fellow Republicans.
Trump nominates Fed’s Powell to lead U.S. central bank
WASHINGTON (Reuters) – President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the U.S. central bank, promoting a soft-spoken centrist to replace Janet Yellen when her term expires in February 2018.
CBS Corp’s revenue misses estimates on lower ad sales
(Reuters) – CBS Corp , owner of the most-watched U.S. TV network, reported a quarterly revenue that missed Wall Street estimates, weighed down by lower advertising sales.
Exclusive: Beleaguered Airbus looks outside for new sales chief
PARIS (Reuters) – Airbus has embarked on a fresh search for a sales chief to take over from soon-to-retire John Leahy as the aerospace group seeks a clean break from turmoil over investigations into the use of middlemen, said three people familiar wit…
Game-maker Activision Blizzard’s holiday-quarter forecasts disappoint
(Reuters) – Activision Blizzard Inc on Thursday became the second videogame publisher after Electronic Arts to forecast revenue below Street estimates for the all-important holiday sales quarter as a slew of title releases heats up competition.
U.S. and AT&T discuss conditions for approval of Time Warner deal
WASHINGTON (Reuters) – AT&T Inc and the U.S. Department of Justice are discussing conditions the No. 2 wireless carrier needs to meet in order to win government antitrust approval for its acquisition of Time Warner Inc, sources familiar with the situation told Reuters on Thursday.
