Wells Fargo sales scandal extends to brokerage unit: U.S. senators
(Reuters) – Wells Fargo & Co fired hundreds of brokerage employees for improper sales practices, three U.S. senators said on Thursday, widening the scope of a scandal which the fourth-largest U.S. bank has so far characterized as a retail banking problem.
Starbucks posts higher quarterly revenue, issues cautious forecast
(Reuters) – Starbucks Corp reported better-than-expected quarterly results on Thursday, as sales in the U.S.-dominated Americas region soothed concerns that the world’s biggest coffee seller had succumbed to a broader restaurant slump.
Huawei wants to beat Apple in smartphones in two years: exec
MUNICH (Reuters) – China’s Huawei Technologies [HWT.UL] wants to be the world’s second-largest maker of smartphones in two years, Richard Yu, chief executive of Huawei’s consumer business group, told Reuters on Thursday.
White House study: China trade deal worsens damage from TPP failure
WASHINGTON (Reuters) – The Obama administration issued a fresh warning on Thursday about the dangers of Congress failing to pass its Asian trade deal, saying that millions of U.S. jobs could be at risk if a rival China-led trade pact is enacted.
S&P 500 losing streak runs to 8 days as Facebook weighs
(Reuters) – The S&P 500 fell for an eighth straight session on Thursday, its longest losing streak since the 2008 financial crisis, as Facebook shares weighed and investors grappled with uncertainty over next week’s U.S. presidential election.
Icahn raises stake in Herbalife
(Reuters) – Activist investor Carl Icahn has raised his stake in Herbalife Ltd to 23.1 percent as of Nov. 3, according to a regulatory filing on Thursday.
Kraft Heinz third-quarter sales dip 1.5 percent, below estimates
(Reuters) – Kraft Heinz Co , the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported on Thursday quarterly sales fell 1.5 percent, as the company continues to cope with changing consumer tastes.
Caesars unit raising $3.8 billion cash to exit bankruptcy
CHICAGO (Reuters) – Caesars Entertainment Corp’s main casino operating unit has begun a process to raise up to $3.8 billion of cash needed to exit a contentious two-year bankruptcy, according to a court filing on Wednesday.
GoPro third-quarter revenue misses estimates, cuts full-year forecast
(Reuters) – GoPro Inc reported a near 40 percent fall in third-quarter revenue and cut its full-year revenue forecast, hurt by dwindling demand for its body-mounted point-of-view cameras, sending its shares sliding 23 percent after the bell.
CVS Health to cut about 600 jobs over next two months
(Reuters) – CVS Health Corp said it would cut about 600 jobs, mostly at its corporate offices in Rhode Island, Illinois and Arizona over the next two months, citing an increasingly competitive environment.
