PayPal fuels higher eBay revenue even as cyber attack, rivals weigh
SAN FRANCISCO (Reuters) – EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as better-than-expected results from its fast-growing PayPal division helped the online retailer overcome increasing competition from Amazon.com Inc and a we…
Wall St. gains on M&A, results; Dow ends at record high
NEW YORK (Reuters) – U.S. stocks rose on Wednesday, with the Dow Jones industrial average closing at a record high, boosted by the latest merger news and some strong corporate earnings.
GM to review, reorganize legal dept in response to recall
WASHINGTON (Reuters) – General Motors Co has appointed an outside law firm to investigate its legal department, which is under fire for its role in the company’s mishandled ignition switch recall, the automaker’s top lawyer will announce at a Senate he…
Holdout investors tell Argentina: ‘Time is running out’ for deal
BUENOS AIRES (Reuters) – Argentina is running out of time to broker a debt deal and avoid another painful default, “holdout” investors suing the country for full repayment on their bond holdings said on Wednesday.
Emirates airline could buy 60-80 more A380s if engines upgraded: FT
(Reuters) – Dubai’s Emirates could buy an additional 60 to 80 Airbus A380s if the four-engined superjumbo were revamped with more fuel-efficient engines by 2020, the airline’s Chief Executive Tim Clark said, according to the Financial Times.
Yum’s China rebound dimmed by India, Pizza Hut weakness
(Reuters) – Yum Brands Inc on Wednesday said its KFC business bounced back in China, its No. 1 market, but its stock fell more than 2 percent in extended-hours trading on disappointing quarterly results from its India, Taco Bell and Pizza Hut divisions…
F-35 engine mishap, UK ‘no show’ rich in lessons learned
FARNBOROUGH England (Reuters) – The engine failure that grounded Lockheed Martin’s F-35 fighter jets and the warplane’s now-canceled appearance at two UK air shows provided key “lessons learned” for the companies that build the jets, and the military f…
BMW to recall 1.6 million cars on concerns over Takata air bags
DETROIT (Reuters) – German automaker BMW said on Wednesday it is recalling about 1.6 million cars worldwide to replace passenger-side front air bags made by Takata Corp because the inflators could break apart during deployment and injure passengers.
U.S. SEC set to take aim at costly mutual funds, bad brokers
(Reuters) – A U.S. Securities and Exchange Commission official offered a sneak peek on plans for examining brokerages in 2015, indicating it would likely focus on sales of expensive mutual funds and have a “laser like focus” on problem brokers and firm…
Yellen defends Fed independence, faces House Republican criticism
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen defended the central bank’s independence on Wednesday at a U.S. congressional hearing, handling tough questions from Republican lawmakers who want to rein in the Fed’s authority.
