Wal-Mart in talks to buy online retailer Jet.com: report
(Reuters) – Wal-Mart Stores Inc is in talks to buy Jet.com, a year-old online rival, as part of a multibillion-dollar revamp of its e-commerce division aimed at boosting online sales growth, the Wall Street Journal reported on Wednesday.
Energy, financial stocks give Wall St. modest lift
NEW YORK (Reuters) – Wall Street advanced modestly on Wednesday after a sharp rise in oil prices boosted energy shares, while better-than-anticipated data on the labor market helped financial stocks.
Wells Fargo says no material impact from Brexit vote
(Reuters) – Wells Fargo & Co said on Wednesday that it did not experience any material impact on its UK or other foreign businesses as a result of Britain’s vote to leave the European Union.
Time Warner takes stake in Hulu, lifts profit forecast
(Reuters) – Time Warner Inc disclosed a 10 percent stake in video streaming site Hulu on Wednesday, setting its sights on the web TV market, and it raised its 2016 forecast on expectations of sustained growth in its traditional media business.
Massive funding, Apple backing helped Didi outrun Uber in China
SAN FRANCISCO/HONG KONG (Reuters) – Apple Inc’s $1 billion investment in car-hailing app Didi Chuxing in May helped accelerate Uber’s decision to agree a halt to a costly two-year battle with its rival in China, people close to the companies and analy…
Oil up 3 percent on big U.S. gasoline draw; WTI back above $40
NEW YORK (Reuters) – Oil prices jumped more than 3 percent on Wednesday, with U.S. crude futures returning to above $40 a barrel, after a larger-than-expected gasoline draw offset a surprise build in crude stockpiles in the No. 1 oil consumer.
Fed penalizes Goldman Sachs for use of confidential data
NEW YORK (Reuters) – The U.S. Federal Reserve Board said on Wednesday it had ordered Goldman Sachs Group Inc to pay a $36.3 million civil penalty for the unauthorized use and disclosure of confidential information.
‘I don’t like bonds, I don’t like most stocks’: Bill Gross
NEW YORK (Reuters) – Investors should cut risk by placing money in real assets and accept lower returns, given that markets no longer offer double-digit gains in a zero interest-rate environment, said Bill Gross, a portfolio manager at Janus Capital Gr…
Office Depot to shut another 300 stores; initiates dividend
(Reuters) – Office Depot Inc , which scrapped a plan to merge with larger rival Staples Inc in May on antitrust concerns, said it would close about 300 more stores in the next three years to help cut annual costs by $250 million by the end of 2018.
Exclusive: EDF boss knew UK planned to delay nuclear deal before board vote – letter
PARIS (Reuters) – EDF CEO Jean-Bernard Levy knew the UK government wanted to take more time to review the Hinkley Point nuclear contract before the French utility’s board voted to approve the investment, he said in a letter to top executives.
