Despite earnings beats, expectations dim for later quarters
NEW YORK (Reuters) – Most U.S. companies so far this earnings season have managed to beat Wall Street profit forecasts despite weak sales, but investors hoping corporate headwinds have died down may need to temper their enthusiasm.
Janus CEO says first-quarter stems more from equities strength, less from Gross
NEW YORK (Reuters) – Janus Capital Group Inc , the firm that hired closely watched bond investor Bill Gross in September, said first-quarter earnings came in above expectations with the help of net inflows into its equity funds.
Exclusive: France defends Renault stake increase in letter to Ghosn – sources
PARIS (Reuters) – French Economy Minister Emmanuel Macron has written to Renault boss Carlos Ghosn to defend the government’s surprise stake increase in the carmaker and reject claims it endangers the Renault-Nissan alliance.
CIBC says it in talks on potential $2 billion U.S. acquisition
CALGARY (Reuters) – Canadian Imperial Bank of Commerce is in talks with several U.S. companies on a potential $2 billion wealth-management and private-banking acquisition, its top executive said in an interview.
Market liquidity drought raises alarm bells inside Fed
WASHINGTON/NEW YORK (Reuters) – Sections of the U.S. financial system that may be vulnerable to investor panic are raising concerns inside the Federal Reserve, as policymakers preparing for the first interest-rate hike in nearly a decade seek to ensure…
Two shareholders sue American Apparel over CEO’s ouster
(Reuters) – Two American Apparel shareholders have filed a lawsuit against the clothing and accessories retailer, alleging its founder and former Chief Executive Dov Charney was fired because he refused to sell the company.
Shares in Brazil’s Petrobras slide after $17 billion charge
RIO DE JANEIRO (Reuters) – Shares in Brazil’s state-run oil company Petrobras fell 5 percent on Thursday, a day after it reported the largest loss ever on $17 billion in charges, giving investors a deeper look at the fallout from a huge corruption scan…
China, Europe and U.S. business activity disappoints in April
LONDON/SYDNEY/NEW YORK (Reuters) – Business activity weakened in China and Japan in April and growth slowed in Europe and the U.S., suggesting the global economy may be less robust than policymakers are predicting.
Investors called on to give boardroom leaders greater scrutiny
LONDON (Reuters) – After taking top executives to task over excessive pay and bonuses, investors are slowly turning their attention to the role of the chairperson, as concern about weak governance grows.
PepsiCo profit beats estimates on stronger Frito-Lay demand
(Reuters) – PepsiCo Inc reported better-than-expected first-quarter profit, helped by stronger demand for its Frito-Lay snacks in North America and price increases in its beverage business.
