PayPal’s China, Europe transaction volumes hit by strong dollar
(Reuters) – Payment processor PayPal Holdings Inc , spun off from eBay Inc reported quarterly revenue slightly below analysts’ expectations as a strong dollar hurt its transaction volumes in China and Europe.
Hershey sees squeeze from growing U.S. income gap
NEW YORK (Reuters) – Chocolate maker Hershey Co , long a staple of middle-class U.S. households, is getting squeezed as consumers either pay up for fancier sweets or seek more savings. The maker of Hershey kisses and Reese’s peanut butter cups reported lower-than-expected U.S. sales on Wednesday and cut its profit forecast for the year, sending shares down 6.5 percent. It has cut such forecasts for five quarters in a row.
Deutsche Bank scraps dividend to boost capital in clean-up
FRANKFURT (Reuters) – Deutsche Bank said it would sacrifice its 2015 and 2016 dividends as new Chief Executive John Cryan seeks to bolster the bank’s capital and retain money to pay for sins of the past.
GoPro revenue misses due to weak demand for new cameras
(Reuters) – GoPro Inc reported a lower-than-expected rise in quarterly revenue as its newly launched wearable cameras failed to click with customers, especially in the Americas.
VW dealers offer hefty discounts as diesel crisis keeps U.S. buyers away
DETROIT/SAN FRANCISCO (Reuters) – Many of Volkswagen AG’s U.S. dealers are offering hefty discounts of $6,000 and more on new 2015 and 2016 gasoline models as the German automaker began more aggressive efforts to rebuild sales in the wake of the diesel…
Icahn takes stake in AIG, calls for breakup
(Reuters) – Billionaire investor Carl Icahn on Wednesday urged American International Group Inc to break itself apart, targeting a $78 billion insurer in one of the largest activist campaigns this year. AIG shares jumped almost 5 percent in heavy tradi…
Exclusive: U.S. trade czar says Britain would lose on trade outside the EU
WASHINGTON/BRUSSELS (Reuters) – The United States is not keen on pursuing a separate free trade deal with Britain if it leaves the European Union, U.S. Trade Representative Michael Froman said on Wednesday, the first public comments from a senior U.S. …
Northrop third-quarter results top estimates, 2015 profit outlook raised
WASHINGTON (Reuters) – Hours after winning a multibillion-dollar contract to build a new U.S. bomber, Northrop Grumman Corp reported higher-than-expected quarterly revenue and earnings on Wednesday, and increased its profit outlook for the full year.
Apple defies China slowdown fears with strong iPhone sales
Apple Inc reported blockbuster iPhone sales in China, suggesting that worries about the company’s growth trajectory in the world’s second-largest economy are overdone.
Short sellers double down on Weight Watchers after Oprah invests
SAN FRANCISCO (Reuters) – Bets against Weight Watchers International appear to have spiked after an investment by media mogul Oprah Winfrey led the troubled diet brand’s shares to double.
