facebook pixel
chevron_right Business
Adobe lifts earnings forecast on tax reform boost
Adobe said it expects earnings of $6.20 per share for fiscal year 2018, up from a previous forecast of $5.50. Shares of the company rose more than 5 percent to $208.02 in after-hours trading.
Stocks hit record as senators reach deal to end shutdown
US stocks advanced on Monday as each of Wall Street's main scored records in the wake of a deal by US senators to end the federal government shutdown. Shares in US hemophilia specialist Bioverativ (BIVV.O) soared 61.89 percent after Sanofi agreed to buy the company for $11.6 billion. Juno Therapeutics (JUNO.O) jumped 26.83 percent after Celgene agreed to buy the biotech for about $9 billion in cash.
At Davos, 6 Feet of Snow Brings Limousines to a Crawl
Fat, damp snowflakes have been tumbling down for the past six days, burying the town in six feet of snow, three feet of it in the last two days alone. Head-high snow drifts quickly piled up along the roads, leaving no place for street plows to push more snow. Davos is not alone in getting clobbered with snow in Switzerland this winter. Just two weeks ago, 13,000 tourists were stranded at the foot of the Matterhorn by heavy snow and rain.
U.S. says audit watchdog staff helped KPMG pass audit inspections
Three ex-KPMG executives also were charged for encouraging disclosure of the data on Public Company Accounting Oversight Board (PCAOB) audit inspections, the US Securities and Exchange Commission and Justice Department said in separate filings. The government alleged that KPMG was eager to boost its performance under PCAOB inspections, noting the company received roughly twice as many comments on its audits in 2014 than its competitors. He said he did not believe the improper actions compromised the integrity of the KPMG audits embroiled in the scandal.
Pakistan's PM says confident GE will fix 'technical' issues with gas turbines
Prime Minister Shahid Khaqan Abbasi said on Monday that some of General Electric's flagship new gas turbines in Pakistan were still suffering from technical issues such as vibration but he was confident the American company will fix the problems. GE (GE.N) has described last year's problems as teething issues, but the troubles have frustrated Pakistani officials and concerned analysts. GE, undergoing a restructuring, saw its share price tumble below $16 on Monday for the first time since 2011.
Halliburton upbeat on 2018 as oil recovery spreads
US oilfield services company Halliburton Co (HAL.N) reported a bigger-than-expected adjusted quarterly profit on Monday and gave an upbeat outlook for 2018, as higher oil prices continue to push US production to near-record levels. Its results, along with those of larger rival Schlumberger (SLB.N), suggested the oil and gas recovery will spread beyond US onshore to international exploration and production markets. I am very excited about the way 2018 is shaping up, said Chief Executive Jeff Miller during the company's fourth-quarter earnings call.
Megyn Kelly Fuels Her On-Air Feud With Jane Fonda
In an unusual broadside during NBC's morning hours on Monday, Megyn Kelly blasted Jane Fonda, the 80-year-old Hollywood eminence who has been critical of the NBC host in recent months. The Kelly-Fonda skirmish began in September, when Ms Kelly asked about her use of plastic surgery in the first week of Megyn Kelly Today. In the final 10 minutes of Megyn Kelly Today, she reeled off clip after clip, Daily Show-style, of Ms Fonda talking openly about her plastic surgery in past interviews.
Morgan Stanley Says Harold Ford Jr. Wasn't Fired for Sexual Misconduct
Six weeks after firing the former congressman Harold E Ford Jr for unspecified misconduct, Morgan Stanley clarified Monday that the misconduct was not sexual in nature. The press has reported that Mr Ford was terminated for sexual misconduct, the bank said in a statement. Mr Ford, 47, was fired after a female journalist told Morgan Stanley that he had harassed her at a dinner in 2014.
Camila Cabello's Solo Debut Opens at No. 1
The girl group Fifth Harmony has made three albums, none of which has risen higher on the Billboard chart than No 4. The first solo release by a former member, Camila Cabello, went straight to No 1 after her song Havana, featuring Young Thug, has been a staple at radio and streaming services since late last year.
SpaceX's Big Rocket, the Falcon Heavy, Finally Reaches the Launchpad
On July 16, 1969, a towering Saturn 5 rocket sat on Pad 39A at NASA's Kennedy Space Center in Florida. The Falcon Heavy will be able to carry more than 140,000 pounds to low-Earth orbit, or more than twice as much as current competing rockets. The Heavy - described by SpaceX as far back as 2005 - is essentially a Falcon 9 with two additional Falcon 9 boosters attached to the sides.
Trump's 'America First' Message Is a Case of Rhetoric vs. Reality-So Far
Within minutes of being sworn in as America's 45th president, Donald Trump delivered an inaugural address marked by a warning to foreign leaders that from this day forward it's going to be only America first. That nationalist declaration, including a blunt assertion that every decision on trade, on taxes, on immigration, on foreign affairs will be made to benefit American workers, led to immediate fears among internationalists at home and abroad that the new president would begin to pull back from traditional American.
Jerome Powell's Challenge at the Fed: Keep the Economy Humming
Janet Yellen's progress in easing the Federal Reserve away from ultralow interest rates and paring its portfolio of bonds leaves a big challenge for her successor, Jerome Powell: how to keep the US economy right where it is. Mr Powell begins his term with the unemployment rate at 4.1%, a 17-year low, and the economy expanding at a 3% annual rate. Asset values are rising to new records, and financial conditions loosened last year even though the Fed eased its foot off the gas pedal.
Rogers ends Canadian joint venture with Vice Media
TO) said on Monday it agreed to end a joint venture in Vice Studio Canada and Viceland just three years after announcing it. The C$100 million ($80.24 million) deal was struck in 2014 in a bid for Rogers to build on Vice's edgy content targeted at younger viewers. Rogers' move comes amid stiff competition from video-streaming services such as Netflix (NFLX.O) and Amazon Prime who are spending heavily to make original shows to draw viewers.
U.S. refiner PES pins bankruptcy plan hopes on biofuel costs
The Trump Administration could also wade deeper into the fray should the Pennsylvania refinery, which has some 1,100 workers, face closure. PES told its employees on Sunday it would file for Chapter 11 bankruptcy, pinning its financial difficulties on renewable fuel laws, Reuters reported. In its bankruptcy filing on Monday, the company said it does not have enough cash to comply with the laws for 2016 and 2017.
NAFTA's fate uncertain ahead of talks in Montreal
Canada and Mexico, which initially dismissed most of Washington's demands as unworkable, now say there is room to maneuver. The talks are supposed to wrap up by the end of March to avoid clashing with Mexico's general elections in July. Sources close to the talks say Canada and Mexico will now be more flexible on the auto content and dispute resolution issues. Sometimes you find creative ways without necessarily compromising, said the source, who requested anonymity given the sensitivity of the situation.

Want to stay updated ?


Download our Android app and stay updated with the latest happenings!!!

50K+ people are using this