Sprint posts wider quarterly loss on steep costs
NEW YORK (Reuters) – Sprint Corp , the No. 3 U.S. mobile service provider, posted a wider quarterly loss due to hefty costs from shutting down its older Nextel network and it lost more customers than some analysts had expected.
BP braced for legal long-haul as spill payouts leap
LONDON (Reuters) – BP is digging in for a long legal battle over the Gulf of Mexico oil spill, Chief Executive Bob Dudley said on Tuesday after compensation costs soared for a second straight quarter.
Barclays seeks $9 billion from shareholders to appease regulator
LONDON (Reuters) – Barclays is raising 5.8 billion pounds ($8.9 billion) from its shareholders to help plug a larger-than-expected capital shortfall identified by Britain’s financial regulator at the 320-year-old bank.
Western Union profit falls 27 percent as competition bites
(Reuters) – Western Union Co , the world’s largest money-transfer company, reported a 27 percent decline in quarterly profit after cutting prices and spending more on its online business to compete with more nimble rivals.
Pfizer earnings top estimates, reiterates forecast
(Reuters) – Pfizer Inc reported second-quarter earnings slightly ahead of estimates on Tuesday as the largest U.S. drugmaker lines up a business split that could lead to the spinoff of its generics division.
Office Depot posts loss in line with expectations, sales fall
(Reuters) – Office Depot Inc reported on Tuesday a quarterly loss in line with analyst expectations, as tight cost controls helped offset weak sales at the second-largest U.S. office supply retailer.
Merck revenues miss mark as diabetes, arthritis drugs lag
(Reuters) – Merck & Co Inc’s quarterly revenue fell short of Wall Street expectations as the stronger dollar cut sales of its consumer and animal health products and hurt results for prescription drugs, including diabetes treatment Januvia.
China urbanization cost could top $106 billion a year: think-tank
BEIJING (Reuters) – The cost of settling China’s rural workers into city life in the government’s urbanization drive could be about 650 billion yuan ($106 billion) a year, the equivalent of 5.5 percent of fiscal revenue last year, a government think-ta…
Deutsche Bank legal, regulatory costs weigh on earnings
FRANKFURT (Reuters) – Deutsche Bank AG warned on Tuesday it will face hundreds of millions of euros in costs for litigation and compliance with new bank rules after reporting weaker-than-expected second quarter earnings.
Dollar off lows, shares up on promising earnings, data
LONDON (Reuters) – The dollar climbed off a five-week low and shares edged up on Tuesday as a heavy session of European data and earnings showed early promise before this week’s trio of big central bank meetings.
