Amazon's second-quarter report fell well short of Wall Street's expectations. The company's earnings missed analysts' forecasts by more than a dollar a share. It also offered a disappointing outlook for the third quarter. The Seattle tech giant posted net income of $197 million in the second quarter, or 40 cents per diluted share, on revenue of $38 billion. A year prior, the company reported earnings of $1.78 per share on revenue of $30.4 billion. Wall Street was looking for earnings of $1.42 per share on revenue of $37.2 billion. "Our teams remain heads-down and focused on customers," CEO Jeff Bezos said in a statement.
Dealing a serious blow to President Donald Trump's agenda, the Senate early Friday rejected a measure to repeal parts of former President Barack Obama's health care law after a night of high suspense in the U.S. Capitol. Senate Republicans failed to pass their pared-down Obamacare repeal bill on vote of 49-51 in a dramatic late night vote that caps a months-long process of trying to fulfill a seven-year promise to repeal the Affordable Care Act.
UBS kept a cautious outlook on the second half of 2017 on Friday after it reported an unexpected rise in second-quarter net profit, boosted by higher earnings at its flagship wealth management business. UBS said net income was 1.17 billion Swiss francs ($1.21 billion) during the second quarter, up from CHF1.03 billion a year earlier and far overshooting the average forecast in a Reuters analyst poll for 879 million francs. Operating income fell slightly to CHF7.3 billion from CHF7.4 billion a year earlier.
Howard Marks, one of the most respected value investors out there, starkly warned his clients to avoid high-flying digital currencies. Marks, who runs Oaktree Capital and manages around $99 billion in assets, wrote in the investor letter Wednesday. "In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it."
Sweden's government faces mounting political pressure over its handling of a huge leak by one of its agencies of sensitive data, including potentially the identities of covert defence and intelligence personnel on overseas missions. What began as a scandal earlier this month over an IT outsourcing deal between the Swedish Transport Authority and IBM in 2015 has turned into a full-blown political crisis for the government as the extent of the confidential data leak has become known.
It is a widely accepted postulate that excessive debt slows growth while lowering interest rates is a remedy applied to stimulate growth. The most recent US economic recovery has registered unusually slow growth in a low interest environment marked by a sharp increase in debt. The US national debt doubled in the course of the Obama administration over eight years. Deficit spending is thought to be a measure conducive to stimulating a sluggish economy. A combination of low interest rates and budget stimulus should have produced strong growth and not growth rates remaining under 2% for years on end.
Facebook reported its second quarter earnings on Wednesday, and the results were predictably positive. The social network passed 2 billion monthly users earlier this summer, with over 1.3 billion using its software every day. The company parlayed that audience into $9.3 billion in revenue and $3.89 billion in net income. That’s a 71 percent higher profit than it reported for this same period last year. "I want to see us move a little faster here but I'm confident that we're going to get this right over the long term," Zuckerberg said in a conference call with analysts.
The government is commissioning a "detailed assessment" of the costs and benefits of EU migrants as it plans how to manage immigration after Brexit. A new set of rules is needed for when EU free movement ends in the UK. An independent committee, tasked with drawing up the Government's immigration policy post-Brexit, has been asked to look specifically at how EU migrants affect different sectors of the UK economy amid suggestions new rules could be made for different industries.
Britain is to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide pose a major risk to public health. The commitment, which follows a similar pledge in France, is part of the government’s much-anticipated clean air plan, which has been at the heart of a protracted high court legal battle. Plans to ban the sale of new diesel and petrol cars by 2040 in a bid to encourage people to buy electric vehicles are a "tall order" and will place unprecedented strain on the National Grid, motoring experts have warned.
Swiss private bank EFG International expects to hit its target for attracting net new assets from wealthy clients in 2019, Chief Financial Officer Giorgio Pradelli said on Wednesday. Zurich-based EFG, which bought Bank BSI last year, has a medium-term target of 3-6 percent net new money growth, applicable once it has completed the BSI integration.
Regulierung – seit der Finanzkrise prägt der Ruf nach mehr Kontrolle das Banking: Wegen regulator
Die Fonds-Konferenz der SKSF ist eine wichtige, branchenspezifische Plattform für Wissens- und Erfa
2 evenings to find out about the latest from the digital industry & 2 days to find ideas and to crea
ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.
The objective of the Conference is to bring together all the diverse stakeholdersinterested in a pol
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