Check out which companies are making headlines before the bell: Wal-Mart – The retail giant earned an adjusted $1 per share for the third quarter, beating estimates by 3 cents a share. Revenue also beat forecasts, with comparable-store sales rising more than analysts had anticipated. Best Buy – The electronics retailer matched Street forecasts with […]
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Shares of Rockwell Automation jumped 8 percent in the premarket Thursday after Emerson Electric increased its takeover bid of the company. Emerson raised its bid to $225 per share, valuing Rockwell at $29 billion. Rockwell rejected Emerson’s $215 a share bid last month. “The industrial logic for this combination is clear. A combination of Emerson […]
Read moreAmerican Express and Santander have partnered with financial technology firm Ripple to speed up cross-border payments between the U.S. and the U.K. by using blockchain technology. Payments made by American Express’ business customers on its FX International Payments (FXIP) platform will now be routed through Ripple’s enterprise blockchain network, RippleNet. Blockchain — otherwise known as […]
Read moreApple will be the first $1 trillion company within the next year thanks to the iPhone X, a “major upgrade cycle” and a “renaissance” in China, GBH Insights said in a note Thursday. The tech giant’s market capitalization — which refers to the total value of all of a company’s stock in circulation — currently […]
Read moreRepublican Sen. Ron Johnson told CNBC on Thursday he wants to fix the GOP tax reform bill so he can support it. However, he said he doesn’t have enough information about the measure to even propose an amendment to change what he doesn’t like. “In the current form, I wouldn’t vote for it,” Johnson said […]
Read moreWhile many in Silicon Valley focus on futuristic technology — ranging from cryptocurrency to drone delivery — a quiet movement is afoot among young entrepreneurs that have audacious ideas to change the world and help society. To help these start-ups take flight, the $25 million Kairos Fund was launched Thursday. It will provide $250,000 to […]
Read moreIrish start-up Voysis has created an artificial intelligence (AI) voice assistant that it is aiming to license to retailers in a bid to help them compete with e-commerce titan Amazon. Voysis’ voice technology, which launched Thursday, can be integrated into an online retailer’s app or mobile website allowing shoppers to buy products using their voices. […]
Read moreWASHINGTON — Sex and booze made it into the congressional battle over taxes in a late-night revision. The latest changes to a Senate Republican tax plan, released at 10:30 p.m. on Tuesday, include tax cuts for producers of beer, wine and liquor, and a new provision that might be called the Harvey Weinstein tax: An […]
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New EU rules next year will shake up investment banking, RBS chairman says
New EU regulation being phased in early next year will provide a “shake-out” to the investment banking industry, the chairman of RBS told CNBC Wednesday. The rules due to kick off on January 3 “will have some impact on investment banking revenues,” Howard Davies told CNBC at the sidelines of a UBS conference in London. […]
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Volkswagen plans to spend $11.8 billion building electric cars for China
Volkswagen Group said on Thursday it plans to spend 10 billion euros ($11.8 billion) by 2025 to develop and manufacture all-electric and plug-in hybrid vehicles as it seeks to comply with upcoming stringent rules in China. The group, which includes Volkswagen AG and Audi AG, intends to launch 15 of the so-called new energy vehicles […]
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