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Current feed - Reuters: Business News

Facebook's rise in profits, users shows resilience after scandals
(Reuters) - Facebook Inc shares rose on Wednesday after the social network reported a surprisingly strong 63 percent rise in profit and an increase in users, with no sign that business was hurt by a scandal over the mishandling of personal data.

Ford accelerates cost-cutting plan, will drop most U.S. sedans
DETROIT (Reuters) - Ford Motor Co on Wednesday outlined a plan to cut costs and boost profit margins at a faster pace than previously announced, which includes dropping traditional sedan models in North America that have become increasingly unpopular with consumers.

Qualcomm chip sales indicate some smartphone strength
(Reuters) - U.S. chipmaker Qualcomm Inc's quarterly profit and revenue topped Wall Street forecasts, suggesting that a slowdown in the global smartphone business might be less severe than feared after a string of weak forecasts from suppliers.

Twitter shares fall on outlook of slower growth, rising costs
(Reuters) - Twitter Inc shares fell on Wednesday after the social network said its revenue growth would slow this year and costs rise as it works to fight the spread of hate speech and allegations of election manipulation through its service.

Asia stocks edge up as U.S. earnings prop up Wall St, dollar solid
TOKYO (Reuters) - Asian stocks edged up on Thursday as robust corporate earnings helped Wall Street quell concerns over a surge in U.S. bond yields, while the dollar hovered near three-month highs against a basket of currencies.

Chevron evacuates Venezuela executives following staff arrests
(Reuters) - U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to four sources familiar with the matter.

Canada sees progress on NAFTA auto rules; steel tariffs loom
WASHINGTON (Reuters) - Canadian Foreign Minister Chrystia Freeland said on Wednesday that good progress has been made at the NAFTA trade talks on the key issue of auto rules, though the threat of proposed U.S. steel and aluminum tariffs coming into force next week clouded the mood.

Comcast confirms $31 billion bid for Sky, sparking battle with Fox
LONDON/NEW YORK (Reuters) - U.S. media group Comcast submitted a 22 billion pound($30.7 billion) bid for Sky on Wednesday, prompting the European pay TV group to drop its support for a lower offer from Rupert Murdoch's Twenty-First Century Fox .

Steven Cohen's Point72 is sued over use of California money manager's name
(Reuters) - Billionaire Steven A. Cohen's hedge fund firm was sued on Wednesday by a San Francisco money manager seeking to stop it from using its name on a new investing project.

Barclays and Paypal announce tie-up as banks mull big tech threat
LONDON (Reuters) - British bank Barclays and digital payments firm PayPal have announced a partnership that will see them explore ways to combine their services for customers, Barclays said on Thursday.

 

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