Talking Biz News Today — Oct. 23, 2018
Some of Tuesday’s top business news stories: Associated Press Banks lead U.S. stock slide, extending market’s losing streak, by Alex Veiga Oculus co-founder Michael Iribe joins exodus from Facebook, by Michael Iribe Bloomberg This may be the least excited upgrade note in analyst history, by Tina Davis Uber’s top dealmaker departs ahead of next year’s planned IPO, by Eric […]
Coverage: CEO tears into analysts during conference call
The CEO of a mining company exploded at short-sellers and Wall Street analysts on Friday, saying they don’t know how to read financial reports and should quit their jobs. David Koenig of the Associated Press had the news: “You guys should resign for your lack of knowledge of things,” said Lourenco Goncalves, the CEO of Cleveland-Cliffs […]
Talking Biz News Today — Oct. 22, 2018
Some of Monday’s top business news stories: Associated Press “Halloween” scares up $77.5 million in ticket sales, by Lindsay Bahr Climate fund approves $1 billion for projects in poor countries, by Frank Jordans Bloomberg Fiat to sell high-tech car parts company Magneti Marelli to KKR, by Tommaso Ebhardt, Manuel Baigorri and Kiel Porter The retail apocalypse can’t keep Tractor Supply […]
Coverage: Invesco is buying Oppenheimer Funds for $5.7 billion
Invesco Ltd. is paying $5.7 billion in a deal with Massachusetts Mutual Life Insurance Co. to acquire its Oppenheimer Funds, which specializes in picking stocks and bonds especially in the international arena. Charles Stein, John Gittelsohn and Katherine Chiglinsky of Bloomberg News had the news: At a time when many investors are deserting active funds […]
Talking Biz News Today — Oct. 19, 2018
Some of Friday’s top business news stories: Associated Press Job growth is found to be no cure for a community’s poverty, by Josh Boak Stocks sink on weak industrial earnings; tech skid continues, by Marley Jay Bloomberg Apple to unveil iPad, MacBook laptop overhauls on Oct. 30, by Mark Gurman 8Fit founder loses board seat after sexual harassment […]
Coverage: Hurricane Florence, higher mortgage rates hurt homebuilding
U.S. homebuilding dropped more than expected in September as construction activity in the South fell by the most in nearly three years, likely held down by Hurricane Florence. Lucia Mutikani of Reuters had the news: Other details of the report published by the Commerce Department on Wednesday were also soft. Building permits declined to their lowest […]
Talking Biz News Today — Oct. 18, 2018
Some of Thursday’s top business news stories: Associated Press EBay sues Amazon, saying it tried to poach its sellers, by Joseph Pisani Tesla secures land in Shanghai for first factory outside U.S., by Joe McDonald Bloomberg Fed officials debated hiking rates to restrictive territory, by Christopher Condon Tesla manufacturing executive left months ago, by Dana Hull Fortune Essential advice […]
Coverage: Netflix rises after reassuring investors
Netflix Inc. hooked 7 million new streaming subscribers from July to September, a third more than Wall Street had expected, reassuring investors who had worried the company was facing a slowdown in its fast-paced growth. Lisa Richwine and Vibhuti Sharma of Reuters had the news: The record number of additions for the period brought Netflix’s customer base to […]
Talking Biz News Today — Oct. 17, 2018
Some of Wednesday’s top business news stories: Associated Press Stocks surge, recovering some recent losses; Dow rises 547, by Marley Jay Can Pinterest succeed as the “un”-social network? by Barbara Ortutay Bloomberg The real reason Amazon made a $25 Alexa plug, by Nate Lanxon Goldman Sachs and Morgan Stanley have deja vu, by Stephen Gandel Fortune The cat-and-mouse game […]
Coverage: Bank of America’s third quarter profit rose 43 percent
Bank of America Corp. on Monday beat analysts’ estimate for third-quarter profit and revenue as the nation’s second-largest bank set aside less than expected for loan losses. Hugh Son of CNBC.com had the news: The bank posted earnings per share of 66 cents, a 43 percent increase from a year earlier, exceeding the 62 cent estimate of […]
