Netflix’s Tight-Lipped Culture Makes It Hard to Avoid Surprises
19-07-2019, 11:30
(Bloomberg) -- Netflix Inc (NASDAQ:NFLX).’s biggest earnings surprise in years sent the shares plummeting on Thursday. It also left analysts and investors wondering why they were caught so off guard. When some companies know that their quarterly results are going to fall short of forecasts, they put out a pre-announcement or update their guidance. But not Netflix. Instead, the company dropped a bombshell with no warning: Its customer ..
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Wall Street Trading Costs to Surge as New Rules Hit Derivatives
19-07-2019, 11:27
(Bloomberg) -- Wall Street’s heavyweights are prepping their clients for bad news: Some trades are about to get a lot more expensive. Firms including Citigroup Inc (NYSE:C)., Goldman Sachs Group Inc (NYSE:GS). and JPMorgan Chase & Co (NYSE:JPM). are warning customers to get ready for new rules that require more collateral for certain trades. The regulations take effect for some clients in September, but the snare gets even tighter in ..
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China will ease policy further, but saving big ammunition for potential shocks: sources
19-07-2019, 11:24
By Kevin Yao BEIJING (Reuters) - China is keeping all its economic policy tools within reach as the trade war with the United States gets longer and costlier, but still sees more aggressive action like interest rate cuts as a last resort should the dispute get uglier, policy sources say.     Heading off a sharper economic slowdown remains Beijing's top priority, though officials fear easing too much could fuel debt and financial risks, ..
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BlackRock second-quarter profit falls 6.5%
19-07-2019, 11:21
(Reuters) - BlackRock Inc (N:BLK), the world's largest asset manager, missed analysts' estimates for quarterly profit on Friday, as investment advisory and securities lending revenue fell and costs rose. Its institutional funds added $87.36 billion in the second quarter, up from $29.12 billion in the first quarter. Investors poured more money into BlackRock's actively managed funds aimed at beating the market over the low-fee ..
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Why the Fed Should Not Deliver a Big Rate Cut
19-07-2019, 11:18
(Bloomberg Opinion) -- What’s wrong with a 50 basis-point interest-rate cut? I’m all for central banks doing their utmost to support high, durable and inclusive growth. But this doesn’t mean throwing everything at the wall when the economy is doing relatively well, financial markets are buoyant, and policy ammunition is limited. Growing pressure on the Federal Reserve to cut interest rates by 50 basis points this month is ..
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U.S. House Democrats to focus Mueller testimony on Trump's conduct
19-07-2019, 11:15
By David Morgan WASHINGTON (Reuters) - When former U.S. Special Counsel Robert Mueller appears in Congress on Wednesday, House Democrats will try to focus his testimony on clear examples of conduct by President Donald Trump that would lead to criminal charges against any other American. The strategy, described by Democratic congressional aides at a briefing for reporters on Thursday, is intended to build support among Americans for an ..
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Big donor Steyer's presidential run could deny millions to other Democratic races
19-07-2019, 11:12
By Sharon Bernstein SACRAMENTO, Calif. (Reuters) - Billionaire Tom Steyer, a longtime friend and key donor to liberal candidates and causes, says he decided to run for the Democratic presidential nomination next year because no other candidate was offering a "mandate for change". But by deciding to fund his long-shot bid with $100 million of his own money, some Democratic activists believe all he will end up doing is denying his money to ..
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Trump's attacks on congresswomen could boost Biden campaign
19-07-2019, 11:09
By James Oliphant WASHINGTON (Reuters) - As U.S. President Donald Trump intensifies his efforts to brand four progressive congresswomen as the new face of the Democratic Party, its presidential front-runner, Joe Biden, has been quietly reminding voters in Iowa there remains a middle ground. Trump’s vilification of Alexandria Ocasio-Cortez, Ilhan Omar, Ayanna Pressley and Rashida Tlaib, in which he said the minority lawmakers were hostile to ..
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BlackRock Earnings, Revenue Miss in Q2
19-07-2019, 11:06 - BlackRock (NYSE:BLK) reported second quarter earnings that missed analysts' expectations on Friday and revenue that fell short of forecasts. The firm reported earnings per share of $6.41 on revenue of $3.52B. Analysts polled by expected EPS of $6.65 on revenue of $3.58B. That compared to EPS of $6.66 on revenue of $3.61B in the same period a year earlier. The company had reported EPS of $6.61 on revenue of $3.35B in ..
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Syngenta CFO says it faces no glyphosate lawsuits
19-07-2019, 11:03
ZURICH (Reuters) - Chinese-owned agricultural chemical maker Syngenta has not been named in litigation involving weed-killer ingredient glyphosate that has hit German rival Bayer (DE:BAYGn), the Swiss-based company's chief financial officer, Mark Patrick, said on Friday. "To date, Syngenta has not been named in any of the glyphosate suits," Patrick said on a conference call after Syngenta announced first-half results in which ..
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Latest News

Top 5 Things to Know in the Market on Monday
Today, 11:24 -- WeWork's CEO and founder Adam Neumann may go the way of Uber's Travis Kalanick, and there's no end in sight to the slowdown in global manufacturing. Here's what you need to know in financial markets on Monday, 23rd September. 1. Softbank looks for the ejector seat button Softbank, the largest outside shareholder in We Company, is pushing for CEO and founder Adam Neumann to be replaced as chief executive of ..
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NewsBreak: Oil Falls on Reports Saudi Production to be Restored by Next Week
Today, 11:21 - Oil prices reversed gains on Monday following reports that top crude exporter Saudi Arabia is due to restore oil production as soon as next week after an attack on key output facilities earlier this month. Brent crude was down 30 cents to $63.97 a barrel by 6:00 AM ET (10:00GMT). U.S. West Texas Intermediate crude fell 33 cents to $57.76. The price reversal came after Reuters reported that Saudi's Khurais and Abqaiq oil ..
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Exclusive: Ceconomy eyes deal with heirs of Media Markt founder - sources
Today, 11:18
By Matthias Inverardi and Arno Schuetze DUESSELDORF (Reuters) - Germany's Ceconomy (DE:CECG), Europe’s biggest consumer electronics group, is in talks to resolve a long-running dispute with a major shareholder of subsidiary Media Saturn, people close to the matter said on Monday. Under the transaction being discussed, the holding of the Kellerhals family, Convergenta, would swap its stake in the jointly held Media Saturn for a 25% stake in ..
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Top Swiss court lets prosecutors help Italian oil corruption probe
Today, 11:15
ZURICH (Reuters) - Switzerland's top court has allowed Geneva prosecutors to share with Italy material they seized more than three years ago that could shed light on a case involving oil majors Eni (MI:ENI) and Royal Dutch Shell (L:RDSa) and corrupt payments in Nigeria. In a ruling announced on Monday, the Federal Tribunal rejected Nigerian defendant Emeka Obi's appeal to prevent photocopies of items and computer files from his ..
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At shuttered Ohio plant, workers still hope for new GM vehicle
Today, 11:12
By Nick Carey LORDSTOWN, Ohio (Reuters) - When asked about reports General Motors Co (N:GM) may turn its shuttered Lordstown, Ohio, plant into a battery factory, "Buffalo" Joe Nero snorts and points at the vast complex that until six months ago made the Chevrolet Cruze. "You can't support a plant like this making batteries. We need a new vehicle allocated to us," said Nero, 62, who has worked at five plants over 42 years with the No. 1 U.S. ..
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'Howdy, Modi!': Thousands, plus Trump, rally in Texas for India's leader
Today, 11:09
(This September 22 story corrects to add dropped word in fourth paragraph.) By Brad Brooks and Steve Holland HOUSTON (Reuters) - U.S. President Donald Trump and Indian Prime Minister Narendra Modi shared a stage and showered each other with praise on Sunday at a "Howdy, Modi!" rally attended by upward of 50,000 people, a rare mass showing for a foreign leader on American soil. Trump, calling the gathering a "profoundly historic event," was ..
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Huawei CFO's arrest at airport to be focus of Vancouver hearing
Today, 11:06
By Karen Freifeld VANCOUVER (Reuters) - Lawyers for Huawei Chief Financial Officer Meng Wanzhou will be in a Canadian courtroom on Monday to press for details surrounding her arrest at Vancouver's airport nearly 10 months ago. Meng, 47, was detained on Dec. 1 at the request of the United States, where she is charged with bank fraud and accused of misleading HSBC Holdings Plc (LON:HSBA) about Huawei Technologies Co Ltd's [HWT.UL] ..
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Trump’s Fed Tweets Shown to Have ‘Significant’ Effect on Trading
Today, 11:03
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.  President Donald Trump’s Twitter attacks on the Federal Reserve are prompting investors to bet the central bank will bow to political pressure and lower interest rates, according to a new study. Trump has frequently used social media to criticize the Fed and Chairman Jerome Powell for running rates higher than he thinks they should ..
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StockBeat: PMIs, Thomas Cook, Oil Cast a Pall Over European Stocks
Today, 10:24 -- Summer’s over for European stocks, it seems. The benchmark Stoxx 600 fell to its lowest in five days on Monday after another bleak round of business surveys from the euro zone’s biggest economies suggested no end to the current slowdown. Germany's DAX led losses with a 1.5% drop, while the Italian FTSE MIB was down 1.2% and the U.K. FTSE 100 was down 0.7%. According to IHS Markit’s purchasing manager ..
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Thomas Cook collapses: Why and what happens now?
Today, 10:21
By Kate Holton and Guy Faulconbridge LONDON (Reuters) - Thomas Cook (L:TCG), the world's oldest travel firm, collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history. What happens now and why did it collapse? WHO IS AFFECTED? The firm ran hotels, resorts and airlines for 19 million travelers a year in 16 countries, generating revenue in ..
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