USA banks BB&T and SunTrust announce $66 billion merger

Southern National evolved from the Bank of American, which was established by former North Carolina governor Angus MacLean and Judge Thomas A. McNeill in 1897 with $15,000. Executives said they did not expect regulators to demand significant divestit... More..

by | Published more than a month ago
Tata Motors posts record $4 billion loss on Jaguar woes, shares crash
by | Saturday, February 09, 2019

Tata Motors posts record $4 billion loss on Jaguar woes, shares crash

The consolidated revenue of the company stood at Rs 77,001 crore, up by five percent from Rs 74,337.7 crore in the year-ago period, Tata Motors said in a regulatory filing. On Thursday, Tata said there will...More..

Venezuela's Guaido won't rule out authorizing US intervention
by | Saturday, February 09, 2019

Venezuela's Guaido won't rule out authorizing US intervention

Mr Guaido, the country's National Assembly chief, says the May 2018 vote in which Mr Maduro won a second six-year term was a sham. But a US military intervention in Venezuela could fracture support from Lat...More..

Trump anticipated to ban 5G networks from using Chinese tech
by | Saturday, February 09, 2019

Trump anticipated to ban 5G networks from using Chinese tech

But dumping the telecom company comes at a cost as experts say Huawei is between six months and one year ahead of rivals in terms of the quality of 5G equipment. 'Huawei has never and will never use UK-based ha...More..

GM reports strong earnings as job cuts begin
by | Friday, February 08, 2019

GM reports strong earnings as job cuts begin

After buying 275,166 shares in the last quarter, the firm now controls 7,193,288 shares of Square, Inc. which are valued at $403,471,524. Finally, Gradient Investments LLC lifted its holdings in shares of Gener...More..

Twitter says abuse reports have fallen by 16 percent
by | Friday, February 08, 2019

Twitter says abuse reports have fallen by 16 percent

Twitter also expects capital expenditure of between $550 million and $600 million in 2019, well above analysts' average estimate of $415 million. Twitter also has room to grow by converting people who use the s...More..

Amazon's Jeff Bezos Claims He's Being Extorted by National Enquirer
by | Friday, February 08, 2019

Amazon's Jeff Bezos Claims He's Being Extorted by National Enquirer

After the tabloid published a story about his extramarital affair last month, Bezos ordered a team of private investigators to get to find out how the Enquirer obtained lurid texts between him and former ...More..

Tesla cuts Model 3 price again as tax credit is phased out
by | Thursday, February 07, 2019

Tesla cuts Model 3 price again as tax credit is phased out

A US federal tax credit began phasing out for Tesla in January, effectively raising the price of cars by $3,750. In an effort to lower the price of the vehicle, Musk, who is also the founder of rocket company...More..

RBI Policy: MPC Cuts Repo Rate by 25 Basis Points to 6.25%
by | Thursday, February 07, 2019

RBI Policy: MPC Cuts Repo Rate by 25 Basis Points to 6.25%

The RBI raised rates twice past year over concerns about rising prices but with inflation now at an 18-month low the bank said it was time to opt for a reduction. The 'repo rate is a key interest rate at which ...More..

Oil ticks higher, market eyes US State of the Union address
by | Thursday, February 07, 2019

Oil ticks higher, market eyes US State of the Union address

USA crude inventories rose by 2.5 million barrels last week, according to industry group the American Petroleum Institute, and gasoline stocks also increased. Oil prices fell on Tuesday after a survey showed eu...More..

Oil rises 1% on signs of tightening global oil supply
by | Thursday, February 07, 2019

Oil rises 1% on signs of tightening global oil supply

Also weighing on crude prices, the American Petroleum Institute said U.S. crude oil supplies rose by more than 2.5M barrels during last week, adding to the previous build. However, while OPEC is cutting outpu...More..

US' Mnuchin, Lighthizer to hold talks next week in China
by | Wednesday, February 06, 2019

US' Mnuchin, Lighthizer to hold talks next week in China

The UN's report , titled The Trade Wars: The Pain and the Gain , said "bilateral tariffs alter global competitiveness to the advantage of firms operating in countries not directly affected by them". That's be...More..

GM cutting 4,000 workers in latest round of layoffs
by | Tuesday, February 05, 2019

GM cutting 4,000 workers in latest round of layoffs

GM cut about 1,500 contract workers in December, 2018, and said 2,300 salaried workers accepted buyouts, officials said. The job cuts are part of what GM describes as efforts to improve its operating effici...More..

Canadian retailer Sunrise Records buys HMV stores
by | Tuesday, February 05, 2019

Canadian retailer Sunrise Records buys HMV stores

Yesterday it emerged that the Canadian music retailer, which uses Fleetwood Mac albums to explain its business model, was a leading contender to save the United Kingdom high street store chain. Several others -...More..

Trump Invites Bullied Student, Synagogue Shooting Survivors to State of the Union
by | Tuesday, February 05, 2019

Trump Invites Bullied Student, Synagogue Shooting Survivors to State of the Union

Negotiations were fruitless and 800,000 federal employees went unpaid until Trump caved and agreed to reopen the government for three weeks, kicking the can down the road but enabling him to deliver the State ...More..

Google Stock Falls on a Lower Fourth-Quarter Profit Margin
by | Tuesday, February 05, 2019

Google Stock Falls on a Lower Fourth-Quarter Profit Margin

Overall, Alphabet revenue was $136.8 billion for 2018, up 23% year-over-year, with $39.3 billion quarterly revenue, up 22%, the company said. Alphabet said its traffic and acquisition cost - the money it pays t...More..

Crypto trader boss dies with password to clients’ £110m
by | Tuesday, February 05, 2019

Crypto trader boss dies with password to clients’ £110m

Investors in a Canadian crypto-currency exchange are in a similar fix after the only person with the password to accounts valued at $190 million in USA dollars died unexpectedly in India in December, CoinDesk...More..

Here's a Fiery Glowing Test of the New SpaceX Raptor Engine
by | Tuesday, February 05, 2019

Here's a Fiery Glowing Test of the New SpaceX Raptor Engine

On Sunday, SpaceX CEO Elon Musk shared photos and video of the company's Starship Raptor engine firing in its first ground test. Musk , who posted about the event on Twitter , congratulated his team with ...More..

General Motors starting white-collar layoffs this week
by | Monday, February 04, 2019

General Motors starting white-collar layoffs this week

GM is filing new required mass layoff notices with state agencies and disclosed the cuts to lawmakers. This is part of the company's previously announced 15 percent workforce reduction that was announced back...More..

Germany: Brexit divorce deal is a compromise
by | Monday, February 04, 2019

Germany: Brexit divorce deal is a compromise

Hunt said: "It is true that if we ended up approving a deal in the days before the 29 March , then we might need some extra time to pass critical legislation". The lower house had rejected the withdrawal agree...More..

After Trump Intervenes, Foxconn to Move Forward With Construction of Wisconsin Factory
by | Sunday, February 03, 2019

After Trump Intervenes, Foxconn to Move Forward With Construction of Wisconsin Factory

In comments published on Wednesday, Louis Woo, special assistant to Foxconn's Gou, told Reuters those plans might be scaled back or even shelved, citing the steep cost of making advanced TV screens in the U...More..

BP Backs Shareholder Climate Proposal
by | Sunday, February 03, 2019

BP Backs Shareholder Climate Proposal

BP has agreed to come clean on how its corporate strategy matches its pledge to meet the Paris climate change agreement. They include Hermes EOS, Aviva Investors and Legal and General Investment Management. B...More..

US job gains largest in 11 months; unemployment rate rises
by | Sunday, February 03, 2019

US job gains largest in 11 months; unemployment rate rises

Nevertheless, the final January data should continue to reflect a healthy labor market. During the recent government shutdown , economists thought that hundreds of thousands of federal workers placed on fu...More..

Amazon profit jumps on strong holiday quarter
by | Sunday, February 03, 2019

Amazon profit jumps on strong holiday quarter

Amazon , which recently surpassed Microsoft as the most valuable company in the USA, reported net income of $3.03 billion during the last three months of 2018. Net sales in North America, its biggest market, ...More..

Government To Not Extend February 1 Deadline For E-Commerce Norms
by | Sunday, February 03, 2019

Government To Not Extend February 1 Deadline For E-Commerce Norms

New government-issued norms, which kicked in just today, prevent foreign firms from selling their products directly to consumers. The biggest casualty, sources said , would be e-commerce platforms, including...More..

Unilever has more to do on growth, new CEO Alan Jope admits
by | Sunday, February 03, 2019

Unilever has more to do on growth, new CEO Alan Jope admits

The Anglo-Dutch group reported sales growth of 2.9 per cent, which was below a consensus forecast of 3.5 per cent. Unilever shares were down around 3 percent to 45.87 euros at 1021 GMT on January 31. Manageme...More..

Another Apple employee arrested over stealing self-driving tech secrets
by | Saturday, February 02, 2019

Another Apple employee arrested over stealing self-driving tech secrets

Security personnel also found on the computer about a hundred photographs taken inside an Apple building . In December, Chen was put on notice by Apple that his work performance needed to improve. Chen told ...More..

Electric carmaker Tesla's shares fall after surprise CFO exit
by | Friday, February 01, 2019

Electric carmaker Tesla's shares fall after surprise CFO exit

Tesla on Wednesday reported net profit of $139 million for the three months ended in December, its second consecutive quarter in the black. Much has been said and written about Tesla for several years now and...More..

Recall Of Infant Ibuprofen Sold At CVS, Walmart Has Been Expanded
by | Friday, February 01, 2019

Recall Of Infant Ibuprofen Sold At CVS, Walmart Has Been Expanded

More infant ibuprofen is being recalled from stores across the United States over fears it contains dangerously high levels of the drug. Other possible adverse health effects include nausea, vomiting, stomach p...More..

by | Friday, February 01, 2019

Amazon shares fall after first-quarter sales forecast misses estimates

Amazon has revealed a record profit as a jump in Christmas sales meant it shrugged off the impact of a hefty pay increase for its staff. After some fluctuation, shares of Amazon sold off after the report. Yet...More..