Barclays takes extra $1.2 billion hit for potential forex settlements
LONDON (Reuters) – Barclays set aside another 800 million pounds ($1.2 billion) on Wednesday to cover potential settlements for alleged foreign exchange manipulation, hitting profits and reflecting its struggle to put past problems behind it.
UK ‘flash crash’ trader fails to raise bail, stays behind bars
LONDON (Reuters) – The British trader fighting extradition to the United States on charges that he illegally contributed to the 2010 Wall Street “flash crash”, appeared in court on Wednesday and was ordered to be kept in custody after failing to meet h…
Alibaba’s Ma says freezing hiring after growing ‘too quickly’: report
SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd is freezing hiring for the rest of the year because it has grown “too quickly”, Executive Chairman Jack Ma told staff.
European shares follow Asia lower, dollar weak before Fed
LONDON (Reuters) – Stocks fell in Europe on Wednesday, following Asian stocks lower, while the dollar held near two-month lows before a Federal Reserve policy statement expected to show the U.S. central bank in no hurry to raise interest rates.
Wal-Mart to expand China store network by nearly a third after growth stalls
BEIJING/SHANGHAI (Reuters) – Giant U.S. retailer Wal-Mart Stores Inc plans to expand its footprint in China by nearly a third by opening 115 new stores by 2017, the firm’s chief executive said, in a renewed push to lure China’s grocery shoppers despite…
Absence of contagion changes whole Greek game
LONDON (Reuters) – If fear of Europe-wide financial wildfire was Athens’ trump card in its standoff with euro zone creditors – then the card has now turned up a dud.
Samsung Elec overtook Apple as top smartphone maker in first quarter: Strategy Analytics
SEOUL (Reuters) – Samsung Electronics Co Ltd overtook Apple Inc to recapture the title of world’s top smartphone maker by volume in the first quarter of 2015, research firm Strategy Analytics said on Wednesday.
Chinese demand for Apple’s big-screen phones fuel sales growth
SAN FRANCISCO (Reuters) – Apple’s large-screen iPhones are a big hit in China, taking market share from Samsung and selling at a pace that may make China a greater source of revenue than the Americas for Apple in coming years, analysts said.
Twitter cuts revenue forecast, shares slump
(Reuters) – Twitter Inc reported quarterly revenue that fell short of Wall Street estimates and cut its full-year forecast because of weak demand for its new direct response advertising, sending shares down as much as 24 percent on Tuesday.
GoPro forecast beats on strong demand for action cameras
(Reuters) – Wearable camera maker GoPro Inc forecast current-quarter profit and revenue above analysts’ expectations, citing strong demand for its flagship Hero4 action cameras.
