PepsiCo profit beats expectations on North American demand; stock rises
(Reuters) – PepsiCo Inc reported a better-than-expected profit for the second quarter on Thursday, buoyed by lower raw material costs and higher demand for Frito-Lay snacks and new beverages in North America, lifting shares to a record in early tradin…
UK banks spared downgrades by S&P in mass outlook cull
LONDON (Reuters) – Standard & Poor’s carried out a mass-cull of British bank rating outlooks on Thursday in the wake of the country’s vote to end its membership of the European Union, but stopped short of downgrading them despite its brutal cut of Britain’s sovereign rating.
Global stocks, sterling lick wounds after Brexit bashing
LONDON (Reuters) – Stocks climbed and sterling edged off its three-decade long lows on Thursday, licking their wounds from a Brexit-driven pummeling as upbeat U.S. economic data restored a measure of risk appetite to markets.
Huawei files with second China court in Samsung patent suit
HONG KONG/SEOUL (Reuters) – Huawei Technologies Co Ltd [HWT.UL] has submitted a filing with a second court in China as part of a patent lawsuit against smartphone rival Samsung Electronics Co Ltd .
In UK property turmoil, some wealthy Asians seek bargains
HONG KONG (Reuters) – Some Asian institutions and wealthy investors are eyeing London property despite turmoil in the market following Britain’s decision to leave the EU, with the subsequent plunge in sterling among the factors making prized assets mor…
GE, Senvion prepare bids for French wind group Adwen: sources
FRANKFURT/MADRID (Reuters) – General Electric and German wind turbine maker Senvion are preparing bids for French wind power group Adwen, which is jointly owned by Spain’s Gamesa and France’s Areva , people familiar with the matter said.
HNA, Li Ka-shing firm short-listed for CIT plane leasing unit sale: sources
SINGAPORE (Reuters) – China’s HNA Group and a firm backed by Hong Kong tycoon Li Ka-shing are among suitors advancing to a second round of bidding for CIT Group’s aircraft leasing assets valued at between $3 billion and $4 billion, people familiar wit…
Citigroup merges EMEA, Asia consumer banking businesses: internal memo
HONG KONG (Reuters) – Citigroup is merging its consumer banking unit in Europe, Middle East and Africa (EMEA) with Asia, the largest region for profit for the business outside North America, according to an internal memo seen by Reuters on Thursday.
Cruel summer for U.S. refiners as margins tank
NEW YORK (Reuters) – Summer driving season is in full swing and American motorists are filling their tanks at a healthy clip, but that is not swelling the profit margins as much as usual at U.S. independent oil refiners such as PBF Energy Inc and Vale…
JPMorgan could move thousands of staff out of UK: report
MILAN (Reuters) – JPMorgan Chase & Co could be forced to move thousands of staff out of Britain if the country loses its automatic right to sell financial services to the European Union after last month’s Brexit vote, bank CEO Jamie Dimon told an Italian newspaper.
