(Reuters) – Cambridge Analytica, the firm embroiled in a controversy over its handling of Facebook Inc user data, and its British parent SCL Elections Ltd, are shutting down immediately after suffering a sharp drop in business, the company said on Wednesday.
LONDON/BENGALURU (Reuters) – Spotify Technology SA shares dropped 9 percent after the streaming music leader’s subscriber outlook and quarterly revenue fell just short of analyst estimates in its first report as a public company.
Tesla Inc stood by its production targets for its Model 3 on Wednesday, assuring investors that its key new vehicle was on track, and sought to downplay increased wariness over its finances, saying it expected to achieve net profit in both its third and fourth quarters. Tesla said its spending had been trimmed and the company would spend less than $3 billion in capital expenditures in 2018, below its 2017 total of $3.4 billion. Analysts had not expected so much spending, predicting hundreds of millions of dollars less in so-called cash burn, according to Thomson Reuters data. …read more […]
SAN FRANCISCO (Reuters) – Tesla Inc stood by its production targets for its Model 3 on Wednesday, assuring investors that its key new vehicle was on track, and sought to downplay increased wariness over its finances, saying it expected to achieve net profit in both its third and fourth quarters.
(Reuters) – MetLife Inc reported an 8 percent rise in adjusted first-quarter profit on Wednesday, boosted by U.S. tax reforms, as well as volume growth in Asia and better results in auto and catastrophe businesses.
WASHINGTON (Reuters) – Three members of the Federal Trade Commission were sworn in on Wednesday, bringing the agency to full staffing at the top for the first time since mid-2015.
(Reuters) – The poorest U.S. consumers would lose most from the proposed tie-up of wireless carriers T-Mobile US Inc and Sprint Corp, according to consumer advocates who warned the combined company would hike fees for pre-paid and other low-cost mobile phone plans.
NEW YORK (Reuters) – U.S. stocks fell on Wednesday as potential U.S. restrictions on Chinese telecom companies reinforced investor concerns about worsening trade relations between the United States and China.
U.S. stocks fell on Wednesday as potential U.S. restrictions on Chinese telecom companies reinforced investor concerns about worsening trade relations between the United States and China. Wall Street’s major indexes had briefly moved higher after the Federal Reserve left interest rates unchanged in its policy announcement on Wednesday but gave up gains as the session progressed. Stocks slid even further on the news that U.S. President Donald Trump is considering issuing an executive order restricting certain Chinese companies from selling telecommunications equipment in the United States. …read more […]
LONDON/BENGALURU (Reuters) – Music streaming leader Spotify Technology on Wednesday posted quarterly revenue just below Wall Street’s average estimate in its first report as a publicly traded company, sending its shares down 9 percent in after-hours trading.
(Reuters) – Tesla Inc on Wednesday posted its worst ever quarterly loss and said its Model 3 production target remains on track, expecting about 5,000 per week in about two months.
Tesla reported its Q1 2018 earnings today, posting adjusted losses of $3.35 …read more […]
NEW YORK/TOKYO (Reuters) – Xerox Corp said its CEO and most of its board will step down to settle a suit by activist shareholders Carl Icahn and Darwin Deason, handing over to new management which will reconsider a contentious deal with Fujifilm Holdings . The move is a triumph for Icahn and Deason, who together hold 15 percent of Xerox. The two had already won a rare court order to temporarily block the deal, which they said undervalued Xerox. …read more […]
LONDON (Reuters) – Spotify Technology on Wednesday posted quarterly revenue in line with its recent outlook and sharply lower operating losses in the music streaming leader’s first financial report as a publicly traded company.
Two black men arrested for sitting at a Philadelphia Starbucks without ordering anything settled with the coffee-shop chain Wednesday for an undisclosed sum and an offer of a free college education. During the uproar, Starbucks CEO Kevin Johnson came to Philadelphia to apologize to the men. …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
