Insider trading by ex-banker’s father becomes focus in U.S. trial
(Reuters) – The relationship between a former Wall Street investment banker charged for insider trading and his father, who traded on information about mergers he learned from him, took center stage at the start of the son’s trial on Wednesday.
Czech cabinet approves investment deal with GE Aviation
PRAGUE (Reuters) – The Czech government approved a deal with GE Aviation on Wednesday for an investment in a new turboprop engine plant that will cost an estimated 350 million euros ($384.76 million).
McDonald’s to create 5,000 jobs in Britain
LONDON (Reuters) – McDonald’s Corp said on Wednesday it would create over 5,000 jobs in Britain by the end of 2017, in a sign of its commitment to the country despite the challenging economic conditions.
Comcast profit drops on film sales, beats Wall Street estimates
NEW YORK (Reuters) – Comcast Corp reported a 5 percent drop in quarterly earnings on Wednesday, hurt by lower film division sales, but managed to beat Wall Street expectations due to growth in its business services and high-speed internet units.
Fiat Chrysler lifts 2016 guidance, but doubts linger
MILAN/DETROIT (Reuters) – Fiat Chrysler Automobiles (FCA) nudged up its full-year adjusted earnings guidance on Wednesday, but its shares came off earlier highs after recall costs hit second-quarter profit and concerns remained about its exposure to a …
Steve Cohen bets $250 million on firm that uses algorithms
BOSTON (Reuters) – Billionaire investor Steven A. Cohen is committing $250 million to a Boston-based investment firm that lets scientists, developers and students submit computerized investment models and then picks the most promising ones to manage th…
Coca-Cola’s revenue misses on weak China, LatAm markets
(Reuters) – Coca-Cola Co reported lower-than-expected quarterly revenue due to weakness in China and certain Latin American economies, and the company warned of no improvement in those markets for the rest of the year.
Stay local, act fast: tiny Spanish bank offers survival manual for Italian peers
ONTINYENT, Spain (Reuters) – The patient had made an appointment to see the surgeon at his consulting room in the local hospital, but when he arrived, he told Dr Antonio Carbonell he wasn’t actually unwell. He wanted to talk about his mortgage.
Twitter’s video push seen unlikely to fast-forward revenue growth
(Reuters) – Video may have killed the radio star, but it could offer a lifeline to Twitter Inc .
Pending home sales rise slightly in June
WASHINGTON (Reuters) – Contracts to buy previously owned U.S. homes rose far less than expected in June, another sign that a lack of inventory is crimping activity despite mortgage rates being at near-record lows.
