Intel cuts 2013 revenue forecast as PC industry sags
SAN FRANCISCO (Reuters) – Intel Corp cut its full-year revenue forecast as the personal computer industry experiences slumping sales and a shift toward tablets and smartphones.
Bernanke tells Congress Fed flexible on bond buying
WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. central bank still expects to start scaling back its massive bond purchase program later this year, but he left open the option of changing that plan if the economi…
Bank of America profit jumps on cost-cutting; shares climb
(Reuters) – Bank of America Corp posted a bigger-than-expected 70 percent jump in quarterly profit on Wednesday, helped by aggressive cost-cutting, as Chief Executive Brian Moynihan’s turnaround efforts showed early signs of paying off.
Housing starts fall to 10-month low, weather blamed
WASHINGTON (Reuters) – U.S. housing starts and permits for future home construction unexpectedly fell in June, but the decline in activity was likely to be short-lived against the backdrop of bullish sentiment among home builders.
Ex HSBC employee hopes for widening of Europe tax probe
PARIS (Reuters) – A former IT analyst from banking group HSBC who provided prosecutors with data on thousands of accounts said in an interview he hoped a Franco-Spanish tax avoidance probe would widen to other countries.
U.S. prosecutor warns Wall Street about repeat violations
NEW YORK (Reuters) – Manhattan U.S. Attorney Preet Bharara said investment firms that repeatedly violate the law should be concerned that they will eventually be held accountable.
Russian mobile operators stop selling Apple’s iPhone, report says
MOSCOW (Reuters) – Russia’s top three mobile operators, Megafon, MTS and Vimpelcom, have stopped selling Apple Inc’s iPhone, the Financial Times reported on Wednesday.
Chinese position forced suspension of tech trade talks: U.S.
WASHINGTON (Reuters) – The top U.S. trade official on Wednesday said talks aimed at cutting tariffs on a new generation of technology products have been suspended because of China’s demand to exclude more than 100 products from the tariff cuts.
Time Warner’s Bewkes shuffles Turner’s top management
(Reuters) – Time Warner Inc said on Wednesday it is appointing a new chief at Turner Broadcasting to replace longtime executive Phil Kent, who steps down in 2014, the latest changes to hit the unit that oversees cable networks CNN, TBS and TNT.
American Express shares fall after Europe proposes to cap fees
(Reuters) – Shares of credit card company American Express Co fell as much as 5 percent on heavy volume on Wednesday, following the European Commission’s plans to limit fees banks can charge to process card payments.
