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PayPal tops profit estimates, lifts target on mobile payments growth
Sharp growth in mobile payments led PayPal Holdings Inc (PYPL.O) to report a better-than-expected third-quarter profit on Thursday and lift its guidance for earnings through the rest of the year. It also owns Venmo, the mobile payments app that is popular with young adults, and still handles transactions for eBay. Its mobile payments volume jumped 54 percent during the third quarter compared with the year-ago period, to about $40 billion.
Dow, S&P 500 eke out record highs, turn up after Fed Powell report
The Dow and S&P 500 eked out record closing highs on Thursday, turning higher at the last minute after a Politico report that Federal Reserve Governor Jerome Powell is the leading candidate for the nominee for Fed chair. Stocks had been recovering from early losses for much of the afternoon but the S&P 500 and Dow were still a tad lower just before the Powell report. Others include Trump's chief economic adviser, Gary Cohn, former Fed Governor Kevin Warsh and Stanford University economist John Taylor.
What May Seem Good for New York Is Not Always Good for Its Mayor
When the mayor sends this kind of mixed message, it appears that he does not think his words matter, she said. We welcome the mayor to join us for any of these happening regularly in his hometown, the spokesman, Reggie Borges, said in an email. Last month, the mayor attended the opening night gala at the Metropolitan Opera, where Norma was performed. It is constitutionally impossible to quote unquote root for the New York Yankees.
United Continental Shares Slip as Lower Profit Looms
Shares of United Continental tumbled on Wall Street on Thursday, falling 12 percent to close at $59.78, as investors raised questions about the airline's plan to take on lower-cost competitors. Although United reported better-than-expected earnings and profits in the third quarter, analysts said they were concerned about revenue for the rest of the year. Mr Atkins said, that plan has not lived up to its promise. The Street is really beginning to question management's credibility here, he said.
Competition, and Debt, Could Spell Trouble for Verizon
In the last quarter, Verizon said it added more than 600,000 wireless customers who pay a monthly bill. The options for Verizon to buy its way out of trouble are limited. Three years ago it closed a $130 billion purchase of the remaining 45 percent stake of the Verizon Wireless venture from Vodafone. The amount of debt on the balance sheet - $117 billion as of the end of September - gives it limited flexibility.
Mexican auto lobby rejects U.S. NAFTA proposal on rules of origin
The Mexican Auto Industry Association (AMIA) on Thursday rejected US proposals to increase North American content for autos produced in the region and require, under a new NAFTA deal, that half of all content come from the United States. AMIA President Eduardo Solis said the rules of origin enshrined in the current North American Free Trade Agreement (NAFTA) have been key in creating value and integrating the auto industries of Canada, the United States and Mexico.
Airbus CSeries deal unlikely to spur quick boost in sales: Air Lease CEO
People are feeling better about the CSeries but it's all on the expectation that Airbus concludes the transaction, said John Plueger, the chief executive officer of Air Lease Corp (AL.N). Bombardier is counting on the agreement to help trim costs and boost CSeries sales. He declined to say whether Air Lease Corp, which has total assets of $15 billion, would now consider buying the CSeries.
Whirlpool seeks 50 percent duties on LG, Samsung washers in U.S. trade case
Whirlpool and GE Appliances asked a US trade panel on Thursday to recommend 50 percent import duties on large residential washing machines to ensure that rivals LG and Samsung follow through on plans to shift washer production to the United States. This is our last chance to get it right, Whirlpool attorney Jack Levy told the US International Trade Commission.
PayPal quarterly profit beats on higher mobile transaction volume
Payment processor PayPal Holdings Inc (PYPL.O) reported a better-than-expected quarterly profit on Thursday, helped by mobile payments volume that more than doubled. San Jose, California-based PayPal has been expanding its services to gain advantage over rivals in the digital payments market, particularly in person-to-person payments, where competition has intensified. PayPal's mobile payments volume jumped 54 percent to about $40 billion, while total payments volume rose 30.5 percent to $114.05 billion, in the third quarter.
S&P 500 ekes out record high, turns higher after Fed Powell report
The Dow and S&P 500 eked out record closing highs on Thursday, turning higher at the last minute after a Politico report that Federal Reserve Governor Jerome Powell is the leading candidate for the nominee for Fed chair. He's viewed to be sort of an extension of Janet Yellen by way of being a policy dove. With the market loving more of the same with regard to uber-accommodative monetary policy, as more welcome than the alternative, he said.
Wall Street ends flat; late gains on Fed Powell report
US stocks closed flat on Thursday, coming back from sharp losses after the open, while Apple (AAPL.O) fell more than 2 percent to lead a decline in technology shares. IXIC dropped 19.15 points, or 0.29 percent, to 6,605.07. The S&P turned positive minutes ahead of the close after Politico reported that Federal Reserve Governor Jerome Powell is the leading candidate to become President Donald Trump's nominee for Fed chair, in what would be a continuation of the current stock market-friendly monetary policy.
U.S. auto reliability dented by new technology; electric cars fare better: report
New technology to stream music into dashboards or boost fuel efficiency is making cars less reliable, although electric cars such as the Tesla Model 3 and the Chevrolet Bolt should fare better than many conventional models, Consumer Reports magazine said on Thursday. Electric cars do away with many of the mechanical systems that prompt consumer complaints about conventional cars, the magazine said.
Wall Street pauses after record highs; tech a drag
US stocks were flat on Thursday, pausing after their recent run of record highs, as technology shares dragged and some earnings disappointed. There was also profit-taking in the tech sector, said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. The technology sector has had a strong run so far this year, gaining more than 30 percent and helping the three major indexes scale record highs.
Departing Elle Editor Robbie Myers Gets Party, Tells of Fire
I mean, I've been working at a steady clip pretty much since I came to New York, Ms Myers said. In 2014, she wrote a scathing response to a New Republic story that questioned whether women's magazines could do serious journalism. Some contributors worried that Ms Myers's interest in the inner lives of women may be replaced by a heightened focus on their appearances. I hope that what separated Elle out from the other magazines will be preserved, Ms Merkin said.
Australia's Amazon Book Battle
Amazon's first fulfillment center in Australia sits at the intersection of several highways about an hour south of central Melbourne. Just below his own bookish calm - and the not-so-secret hope that Amazon will help sell more books - there are wider concerns. The second nightmare scenario, according to booksellers and authors, is that Amazon will find a way to tilt Australia's labor, tax and import laws in its favor.
Microsoft expands rural U.S. campaign with Green Bay Packers tie-up
Microsoft Corp (MSFT.O) has teamed up with the National Football League's Green Bay Packers in a $10 million partnership intended to spur tech innovation in Wisconsin, the software company said on Thursday. Through the partnership, known as TitletownTech, the Packers and Microsoft will each contribute $5 million to invest in startups from around Wisconsin. Microsoft in July also committed itself to use television broadcast spectrum to bring broadband internet to 2 million rural Americans within five years.
Would You Like My Car to Make You Some Water?
Most new car are already loaded with computer chips and have wireless communications links, and they are gaining more abilities in those areas every year. They grabbed a standard automotive pump and a water filter, and commandeered a rectangular baking pan from Mr Martin's kitchen. Normally that water drains onto the road beneath the car. Turn a switch inside the car, and a pump sends water from the reservoir up and out a spout mounted near the front console.
Lyft Raises $1 Billion From CapitalG, Finding an Ally in Alphabet
In a move that escalates the ride-hailing wars, Lyft on Thursday said it had raised $1 billion in new financing led by CapitalG, the venture investment arm of Alphabet. The funding values Lyft at $10 billion before the introduction of new capital. That is a significant jump from the privately held company's last valuation of $6.9 billion.
An Alternative to Burial and Cremation Gains Popularity
He offers a flameless cremation package covering the paperwork, an urn and transport for $1,795. Funeral directors thought the machines would be popular for their environmental benefits, but they were surprised to discover other motives. When her mother, Marcella Okerman, died at 95 earlier this month, Ms Kastelle had already arranged for flameless cremation. I knew cremation was the thing, and it just seemed like an option that felt kinder, to me.
9 Ways to Help You Become a Smarter Investor
In fact, for many people, forgetting about day-to-day market swings and taking a long-term perspective may be the best approach. The markets have been charging ahead, not just in the past several months but over the past eight years. With low interest rates in the United States and Europe, it has been tough to generate substantial income from bonds. It is worth examining whether sudden inflows of cash have led to poor decisions by fund managers, hurting investor returns.

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