Business

Business

Deutsche Bank is said to plan to cut U.S. jobs by over 10%

(c) 2018, Bloomberg. Deutsche Bank is planning to cut more than 10 percent of U.S. jobs as it withdraws from businesses where it can’t compete, a person briefed on the matter said. It’s the first concrete indication of how far Germany’s largest lender is planning to retreat from its past ambition...


Business

Facebook and big tech stocks rally as US indexes climb

Hong Kong Financial Markets

NEW YORK (AP) — U.S. stocks climbed Thursday as Facebook led a rally by technology companies. Most of the market moved higher as interest rates declined from the four-year highs reached over the last few days. Facebook saw its stock price wither last month after its data privacy scandal, but shares...


Business

Anger over banks' gun policies snags $600M road plan

BATON ROUGE, La. (AP) — Louisiana’s plans to finance about $600 million in interstate projects got tangled up Thursday in a dispute over moves by two banking giants to restrict gun sales by their business customers. The State Bond Commission, which regulates the roadwork financing plans, disagreed...


Business

GM truck changeover makes Barra's profit target a tougher sell

(c) 2018, Bloomberg. General Motors’ costly truck changeover is making Chief Executive Officer Mary Barra’s promise of steady earnings a tougher sell with investors. Pausing output of Chevrolet Silverado and GMC Sierra and retooling their plants to build updated versions of the lucrative pickups...


Business

'Surprised' tech bulls pace stock gain; bonds rise

(c) 2018, Bloomberg. U.S. equities rose, with technology shares rallying after strong earnings from Facebook Inc. and Advanced Micro Devices Inc. offered a reprieve for bulls. The yield on 10-year Treasuries fell below 3 percent. The Nasdaq 100 Index surged 2.1 percent, with Facebook notching its...


Business

AbbVie must escape the long shadow of Humira's decline

(c) 2018, Bloomberg. There’s a shadow hanging over AbbVie Inc., even on days when it shines. The maker of the blockbuster inflammation drug Humira is doing great by many metrics, thanks to that medicine’s success. AbbVie released first-quarter results on Thursday that beat analyst earnings and...


Business

EU asks, 'Is the net essential?'

(c) 2018, Bloomberg. The European Union’s antitrust chief is weighing whether internet services are “essential” to modern life in the same way as electricity grids and telecommunications suppliers -- a potentially game-changing question for technology giants such as Google and Facebook. EU...


Business

Cannabis drinks-maker Dixie eyes IPO to fund takeovers

(c) 2018, Bloomberg. Dixie Brands, a U.S. maker of marijuana beverages, is considering an initial public offering toward the end of this year or early next year as it seeks capital for expansion and acquisitions. The company, which hasn’t mandated bankers yet, is eyeing a listing in Canada, Chief...


Business

Sequoia Capital is said to raise bulk of $8 billion venture fund

(c) 2018, Bloomberg. Sequoia Capital has raised more than $6 billion toward what is already the biggest U.S. venture capital fund, with plans for more, said a person familiar with the matter. The Silicon Valley venture firm is targeting $8 billion for the new global growth fund, said the person,...


Business

Snap tries again with Spectacles

(c) 2018, Bloomberg. Snap Inc. is introducing a new version of Spectacles, the colorful sunglasses that take videos for posting on its mobile app. And this time, the company is going to be smarter about predicting demand. The previous version of Spectacles debuted in November 2016 and was first...


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