Qualcomm struggles to collect royalties in China, stock falls
SAN FRANCISCO (Reuters) – Qualcomm Inc’s outlook for the September quarter was below Wall Street’s expectations and its shares fell on Wednesday after the leading mobile chipmaker said it was having trouble collecting royalties in China.
Bombardier outlines organizational overhaul; aerospace head departs
(Reuters) – Bombardier Inc <BBDb.TO on Wednesday announced a major overhaul in its organizational structure and the departure of the head of its aerospace division amid struggles with its long-delayed CSeries jetliner program.
Bank of China eyes Bryant Park office lease: report
(Reuters) – Bank of China Ltd, the fourth largest lender in China, has revived talks to become the anchor tenant at 7 Bryant Park boutique office tower in New York, Crain’s New York Business reported on Wednesday.
GM recalls 717,950 vehicles in U.S., not for ignition switches
DETROIT (Reuters) – General Motors Co on Wednesday announced six recalls covering 717,950 vehicles in the United States for varying reasons, although none were related to ignition switch issues.
Economists worry rising wages may catch the Fed off guard
WASHINGTON (Reuters) – Wages may be growing at a faster clip than envisaged by U.S. policymakers, with a recent raft of business surveys showing an increase in the number of companies raising compensation.
Mars, maker of M&M’s, to raise chocolate prices 7 percent
NEW YORK (Reuters) – Mars Chocolate North America, the maker of M&M’s and Snickers, said on Wednesday that it will raise its prices by an average of 7 percent “to offset rising costs,” its first increase in three years.
Ex-Jefferies trader gets two years in prison in fraud case
NEW HAVEN Conn. (Reuters) – A former Jefferies Group Inc managing director convicted of defrauding investors who traded mortgage bonds through a government program established after the 2008 financial crisis was sentenced on Wednesday to two years in p…
NY Fed found serious problems at Deutsche Bank’s U.S. arms: sources
FRANKFURT (Reuters) – The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG’s U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, people close to the matter told Re…
PepsiCo raises profit forecast as N. America snack sales rise
(Reuters) – PepsiCo Inc’s PEP.N higher-than-expected quarterly profit could give the company more ammunition against an activist investor who wants it to separate its snack and beverage businesses.
No new ‘Bond King’ for Pimco when Gross reign ends
FRANKFURT (Reuters) – When Bill Gross eventually retires as chief investment officer of California-based asset manager Pimco, his “Bond King” crown will go with him.
