Blackstone profit misses, sees chance to put more cash to work
(Reuters) – Blackstone Group LP , the world’s largest alternative asset manager, on Thursday reported lower-than-expected third-quarter earnings, but said it was well positioned to profit from market jitters and put more of its $42.3 billion in undrawn…
Office Depot to cut 1,100 jobs in Europe
(Reuters) – Office Depot Inc said it would cut about 1,100 jobs in Europe as part of a restructuring plan and expects to reduce annual costs by about $90 million by the end of 2016.
U.S. factories help drive big gain in industrial output in September
WASHINGTON (Reuters) – U.S. industrial production posted the biggest gain in nearly two years in September as factory activity quickened and utilities output logged a big-weather related jump, a welcome sign on the pace of the economy’s recovery.
Delta Air Lines profit slumps on higher expenses
(Reuters) – Delta Air Lines Inc’s quarterly profit slumped 74 percent as higher operating expenses did not allow the U.S. airline to take advantage of strong business and leisure travel.
Chrysler recalls more than 900,000 vehicles globally in two actions
DETROIT (Reuters) – Chrysler Group on Thursday announced two global recalls of more than 900,000 cars and SUVs combined for problems that could cause fires.
Top investors, strategists take pummeling in Wall St sell-off
BOSTON (Reuters) – Some of Wall Street’s biggest names are licking their wounds as October lives up to its reputation as one of the market’s roughest months.
Alibaba affiliate Alipay rebranded Ant in new financial services push
BEIJING (Reuters) – Chinese e-commerce firm Alibaba Group Holding Ltd said on Thursday it has changed the name of its Alipay financial services affiliate to Ant Financial Services Group as it steps up its push into the financial services industry.
Markets on edge after worst turmoil in four years
LONDON (Reuters) – Global markets showed some signs of stabilization on Thursday after their most turbulent day in four years, but worries about world growth and the end of years of U.S. stimulus kept investors in a fraught mood.
Buffett cuts Tesco stake to below 3 percent
LONDON (Reuters) – Warren Buffett, the billionaire chairman and chief executive of conglomerate Berkshire Hathaway, has cut his vehicle’s stake in troubled British grocer Tesco to below 3 percent, according to a stock market notification.
Defense firms treated like ‘smut’ in Germany, says Airbus CEO: paper
FRANKFURT (Reuters) – Germany should not be surprised if defense companies feel more welcome elsewhere considering the sector is treated like ‘smut’ in Europe’s biggest economy, Airbus Group Chief Executive Tom Enders told a German newspaper.
