Business

Mood is subdued at Saudi forum under shadow of Khashoggi death

RIYADH (Reuters) – When the world’s business elite gathered last year for Saudi Arabia’s top investment forum, Crown Prince Mohammed bin Salman dazzled them with plans to build a $500 billion mega-city. Saudi Crown Prince Mohammed bin Salman and Jordan’s King Abdullah II ibn Al Hussein attend the investment conference in Riyadh, Saudi Arabia October 23, 2018. Bandar Algaloud/Courtesy of ...

Read More »

Capital One Bank fined $100 million over money-laundering controls

WASHINGTON (Reuters) – A leading bank regulator on Tuesday fined Capital One Bank [COFCO.UL] $100 million for failing to enforce anti-money laundering controls that have been in place for years. The logo and ticker for Capital One are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 21, 2018. REUTERS/Brendan ...

Read More »

McDonald’s overseas strength counters U.S. sales miss

(Reuters) – McDonald’s Corp’s investment in online and touch-screen ordering drove a 13th straight rise in global same-store sales in the third quarter, allaying concerns about the world’s biggest fast food chain’s poor growth in the United States. The logo of a McDonald’s restaurant is seen in Bordeaux, France, June 18, 2018. Picture taken June 18, 2018. REUTERS/Regis Duvignau Shares ...

Read More »

Saudi crown prince proclaims investment conference a success despite boycott

RIYADH (Reuters) – Saudi Arabia’s crown prince trumpeted on Tuesday a conference that has drawn investment deals worth $50 billion despite a boycott over the killing of journalist Jamal Khashoggi, declaring the event as “great – more people more money”. This year’s Future Investment Initiative was overshadowed by the death of the Saudi journalist, a critic of Crown Prince Mohammed ...

Read More »

UTC confident of Chinese nod for Rockwell deal, reports strong profit

(Reuters) – United Technologies Corp (UTX.N) soothed investor nerves over Chinese approval for its purchase of aircraft parts maker Rockwell Collins (COL.N), as it announced a stronger-than-expected quarterly profit on Tuesday. FILE PHOTO: United Technologies logo is displayed on a screen at the post where it’s stock is traded on the floor of the New York Stock Exchange (NYSE) in ...

Read More »

Verizon beats Wall Street estimates, shares hit 18-year high

(Reuters) – Verizon Communications Inc (VZ.N) reported quarterly profit and net new phone subscribers well ahead of Wall Street estimates on Tuesday, as customers took advantage of its subsidies for Apple Inc’s (AAPL.O) latest iPhones late in the quarter. The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, 2016. REUTERS/Brendan McDermid ...

Read More »

Stocks tumble globally as investors flee for safety

NEW YORK (Reuters) – Wall Street stocks followed Europe and Asia lower on Tuesday as investors fled for safety as they worried about U.S. earnings, Italy’s finances and U.S. trade tensions while pressure mounted on Saudi Arabia over the death of journalist Jamal Khashoggi. Benchmark U.S. Treasury prices rose, sending yields to their lowest levels in almost three weeks as ...

Read More »
Skip to toolbar