China ban on Apple services is a challenge for key growth area
(Reuters) – The blocking of Apple mobile entertainment services in China poses fresh challenges for the tech company as it prepares to report its first-ever drop in iPhone sales.
Panama raids Mossack Fonseca property, seizes shredded papers
PANAMA CITY (Reuters) – Panamanian investigators on Friday raided a property used by Mossack Fonseca, the law firm at the center of a massive leak of offshore financial data, removing bags full of shredded documents as evidence, a local prosecutor said…
Fiat Chrysler recalls 1.1 million cars, SUVs for rollaway issue
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV said on Friday it is recalling more than 1.1 million cars and SUVs worldwide because the vehicles may roll away after drivers exit.
Dell SecureWorks, 2016’s first tech IPO, fizzles on Wall Street
(Reuters) – The lackluster market debut of SecureWorks Corp, the cyber unit of Dell Inc, failed to rally the battered technology U.S. IPO market on Friday, a reminder that Wall Street does not welcome cash-burning companies without profits.
Halliburton says it cut 6,000 jobs in first quarter, delays earnings call
(Reuters) – Halliburton Co said it cut more than 6,000 jobs in the first quarter, during which revenue slumped 40.4 percent and it took a $2.1 billion restructuring charge mainly for severance costs and asset write-offs amid the prolonged slump in oil …
Valeant gets additional notices of default from bondholders
(Reuters) – Canadian drugmaker Valeant Pharmaceuticals International Inc said it received additional notices of default from its bondholders as a result of a delay in filing its annual report.
Bankruptcy judge puts off decision on SunEdison independent examiner
NEW YORK (Reuters) – A U.S. bankruptcy judge on Friday put off making a decision on SunEdison Inc’s request for an independent examiner at the company’s first day in court.
Wall Street ends flat; Alphabet and Microsoft tumble
(Reuters) – Wall Street finished flat on Friday after disappointing quarterly reports from Microsoft and Alphabet slammed tech stocks, while a surge in oil prices lifted energy shares.
Alphabet drops most in three years after first quarter but analysts upbeat
(Reuters) – Ruth Porat couldn’t have been clearer: Alphabet Inc’s chief financial officer said on Thursday that Google’s parent needed to step up investment to boost traffic.
Citigroup, U.S. Bancorp exit money-losing Brazil card venture
SAO PAULO (Reuters) – Citigroup Inc and U.S. Bancorp have agreed to sell Brazilian card payment processing joint venture Elavon do Brasil to a local rival for an undisclosed sum, ending months of negotiations to exit the money-losing company.
