(Reuters) – Network gear maker Cisco Systems Inc reported a 4.4 percent rise in quarterly revenue on Wednesday, its second straight quarterly rise, driven by strong growth in its newer businesses such as cyber security.
The U.S. Senate voted 52 to 47 on Wednesday to reverse the Federal Communications Commission decision in December to repeal landmark 2015 net neutrality rules, but it still faces an uphill battle. The margin was larger than expected with three Republicans voting with 47 Democrats and two independents to reverse the Trump administration action. It is not clear if the U.S. House of Representatives will vote at all on the measure, while the White House has said it opposed repealing the December FCC order. …read more […]
NEW YORK (Reuters) – Retail and technology stocks led Wall Street higher on Wednesday as the small-cap Russell 2000 hit a record peak, even as U.S. bond yields touched near a seven-year high and investors fretted over geopolitics.
An explosion that rocked a Southern California medical building, killing the owner of a day spa and seriously injuring two patrons, is being investigated as a crime after federal officials found remnants of an explosive device inside the spa, officials said Wednesday. The explosion occurred Tuesday in Aliso Viejo, about 50 miles (80.5 kilometers) south of Los Angeles. “At this point, we do not believe this was an accident,” said Paul Delacourt, special agent in charge of the FBI’s field office in Los Angeles. …read more […]
Senate Democrats won a vote to preserve net neutrality regulations, a victory for a measure that still faces obstacles to becoming law but could appeal to young voters and boost the party in mid-term elections. The Senate voted 52 to 47 with three Republicans joining all the Democrats and independents, in favor of a resolution to eliminate the Republican-led Federal Communications Commission’s December gutting of earlier rules passed by Democrats. The Senate measure needs to win a vote in the House where Republicans have a larger majority, and to get a signature from President Donald Trump, who supports …read more […]
(Reuters) – Retail and technology stocks led Wall Street back to positive territory on Wednesday, and the small-cap Russell 2000 hit a new intra-day high, even as traders remained on edge about geopolitics and rising U.S. interest rates.
Amazon.com Inc. is bringing its competition with Alibaba right to the Chinese e-commerce giant’s backyard. In the coming weeks, Amazon will host an event in the city of Hangzhou — Alibaba’s hometown — to connect online merchants with 400 Chinese manufacturers keen to sell electronics, car parts, home goods and more directly to American and European consumers. Amazon experts will provide insights into buying trends so merchants can stock up for the 2018 holiday season, according to an invitation reviewed by Bloomberg. …read more […]
NEW YORK (Reuters) – Square Inc’s decision to allow users of its mobile app to buy and sell bitcoin this year was a “pretty contentious move within the company” and remains a source of internal tension, the payment processor’s CEO Jack Dorsey said on Wednesday.
(Reuters) – The Redstone family sought on Wednesday to amend CBS Corp’s bylaws to prevent its board of directors from issuing a special stock dividend that would eliminate much of its voting power, as a court room showdown between them loomed.
(Reuters) – The U.S. toy industry looks set for a flurry of mergers and acquisitions between smaller toy makers in the aftermath of the Toys ‘R’ Us bankruptcy, as they seek more scope and negotiating power with big box retailers Target and Walmart .
(Reuters) – Macy’s Inc raised its full-year profit forecast on Wednesday and reported better-than-expected quarterly and same-store sales, helped by strong international tourism spending, a new loyalty program and a greater assortment of products offered in stores.
Leading the Apple Inc. (NASDAQ:AAPL) rumor mill today is news of plans for a new Campus. Today, we’ll look at that and other Apple Rumors for Wednesday. …read more […]
(Reuters) – Twenty First Century Fox’s Chief Executive Officer James Murdoch will leave the company and be succeeded by brother Lachlan once the company sells off its TV and film assets to Walt Disney Co .
CNBC’s Eamon Javers reports on President Trump’s new financial disclosure form where the president discloses a loan he took from Michael Cohen. The form did not disclose reason for the payment. …read more […]
(Reuters) – The board of CBS Corp headed to court on Wednesday in an attempt to strip voting control from the Redstone family, which has sought to merge one of the biggest U.S. media companies with peer Viacom Inc.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
