HSBC first quarter profit falls 14 percent on weak trading, but beats expectations
HONG KONG HSBC reported a smaller-than-expected 14 percent drop in quarterly profit, as a surge in revenue at its commercial banking unit partly offset the weak trading business caused by the grim global market environment early in the year.The first-quarter profit of Europe's biggest lender was also helped by favourable credit spreads movements in its debt and a drop in its operating expenses from a year-ago period, the bank said in a statement.HSBC reported on Tuesday a pretax profit of $6.1..>> view originalOracle agrees to buy Arlington energy data firm Opower for $532 million
Arlington-based energy analytics company Opower said Monday that it has struck a $532 million deal to sell itself to computing behemoth Oracle. The deal, slated to close later this year, valued Opower’s shares at a 30 percent premium on Friday’s close. “Big day today at the O: opower.com/oracle/ POW!!!!!!!” chief executive Daniel Yates tweeted hours after the deal was announced. Opower sells data services that track energy-use trends across tens of millions of homes. More than 100 utilities in..>> view originalGLOBAL MARKETS-Stocks slide as yen, euro gains question policy potency
LONDON The U.S. dollar slid to its lowest against major currencies in well over a year on Tuesday, a move led by the yen's continued march higher as investors grew doubtful about central banks' ability to boost growth through aggressive policy easing. That did not stop Australia's central bank surprising markets by cutting interest rates to a record low of 1.75 percent, however, hitting the currency but lifting the country's shares.MSCI's broadest index of Asia-Pacific shares outside Japan .MI..>> view originalAmazon's one-hour delivery service gets own website
Amazon on Monday launched a website for its Prime Now delivery service, hitherto available only through iPhone or Android apps. The site, primenow.com, now allows shoppers using a desktop or laptop computer to order groceries and other items delivered in one or two hours. By Seattle Times business reporter Amazon.com on Monday launched a website for its Prime Now fast-delivery service, hitherto available only through iPhone or Android apps. The site, primenow.com, now allows shoppers using a ..>> view originalUBS Shares Drop After Profit Slumps
ZURICH—UBS Group AG’s first-quarter net profit fell sharply from the same period last year, as the Swiss lender’s wealth management business suffered and its investment bank failed to pick up the slack. Tuesday’s results once again showed that the business of managing money for UBS’s wealthy clients isn’t always the steady counterbalance to volatile investment banking that many investors have hoped for. Zurich-based UBS said...>> view originalRPT-UPDATE 6-Australian says he created bitcoin, but some sceptical
(Repeats story published on Monday, no change to text)* Unmasking Nakamoto would solve bitcoin mystery* Some sceptical that Wright is Nakamoto* Wright's blog mentions development of his "small contribution"By Byron Kaye and Jemima KellySYDNEY/LONDON, May 2 Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamo..>> view originalPhilips Plans to IPO at Least 25% of Its Huge Lighting Business
Philips plans to sell at least 25% of its lighting business, the world’s largest maker of lights, on the stock market to focus on its larger medical equipment operations, it said on Tuesday. Chief Executive Frans van Houten said it was an “historic” decision for the Dutch company, which began as a lighting company in 1891. Analysts have valued the unit at about €5 billion ($5.8 billion). Philips phg dropped the word “electronics” from its name in 2013, and has gradually disposed of most ..>> view originalAmazon looks unstoppable. Here are five things that could slow it down.
Amazon just pulled off its biggest quarterly profit in company history — for the second quarter in a row — and more people should be talking about it. Amazon is on its longest profitability streak in four years. And it’s doing so while its core retail business in North America is still growing more than twice as fast as the U.S. e-commerce industry on the whole. Translation: It is eating up a ton of market share and increasingly looking pretty much unstoppable along the way. Which leaves us wit..>> view originalDefault at hand, Congress faces new pressure to act on Puerto Rico
Puerto Rican Gov. Alejandro Garcia Padilla (R). (Thais Llorca/European Pressphoto Agency) Hours before Puerto Rico missed hundreds of millions of dollars of bond payments, U.S. Treasury Secretary Jack Lew on Monday issued a new and urgent call for Congress to pass legislation allowing the territory to restructure the $72 billion it owes to creditors. In a letter to House Speaker Paul D. Ryan (R-Wis.), Lew connected the island’s fiscal crisis to the mosquito-borne Zika virus, which has spread..>> view original
Tuesday, May 3, 2016
HSBC first quarter profit falls 14 percent on weak trading, but beats expectations and other top stories.
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