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Updated: 16 min 10 sec ago

Bank of America net profit slumps on $2.9 billion tax charge, adjusted income beats

10 hours 16 min ago
(Reuters) - Bank of America Corp's net profit nearly halved compared with a year earlier as it booked a $2.9 billion charge stemming from the new federal tax law although it beat analysts' estimates when adjusted for the charge.

Goldman posts first quarterly loss in 6 years on tax hit; trading slumps

10 hours 18 min ago
(Reuters) - Goldman Sachs Inc on Wednesday posted its first quarterly loss in six years on a huge tax charge but adjusted profit trumped analysts' estimates, as strength in the investment banking business cushioned the blow from a slump in trading.

Rolls-Royce shares jump as commercial marine unit goes on the block

10 hours 36 min ago
LONDON (Reuters) - Britain's Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units.

Goldman Sachs beats estimates as investment banking revenue soars

11 hours 1 min ago
(Reuters) - Goldman Sachs Inc on Wednesday reported a quarterly profit that trumped analysts' estimates, as strength in its investment banking business helped cushion the blow from a slump in trading.

BofA net profit slumps on $2.9 billion tax charge, adjusted income beats

11 hours 14 min ago
(Reuters) - Bank of America Corp's net profit nearly halved compared with a year earlier as it booked a $2.9 billion charge stemming from the new federal tax law although it beat analysts' estimates when adjusted for the charge.

Bitcoin slumps to $10,000, half its peak price, as regulatory fears grow

11 hours 22 min ago
LONDON/TOKYO (Reuters) - Bitcoin skidded a further 12 percent on Wednesday, marking an almost halving in value from its peak price, with investors spooked by fears regulators could clamp down on the volatile cryptocurrency that skyrocketed last year.

Futures higher as investors weigh bank earnings

11 hours 34 min ago
(Reuters) - U.S. stock futures pointed to a higher open for Wall Street on Wednesday as investors assessed earnings of Bank of America and U.S. Bancorp.

World shares pull back from record highs, set for second fall of 2018

11 hours 45 min ago
LONDON (Reuters) - World shares pulled back from record highs on Wednesday, set for only their second day of losses in 2018 as lower commodity prices and a string of downbeat updates from companies dampened the mood in global markets.

Bank of America profit slumps on $2.9 billion tax charge

11 hours 55 min ago
(Reuters) - Bank of America Corp's fourth-quarter profit nearly halved as it booked a $2.9 billion charge stemming from the new federal tax law.

U.S. charges Barclays forex trader with fraud

12 hours 19 min ago
LONDON (Reuters) - The U.S. Department of Justice (DoJ) has charged a Barclays foreign exchange trader over his alleged role in a scheme to defraud a client of the bank, the DoJ said.

Bitcoin jolted by regulation worries, tumbles 11 percent on extended sell-off

12 hours 33 min ago
TOKYO/LONDON (Reuters) - Bitcoin skidded more than 11 percent on Wednesday, extending a precipitous downturn in fortunes with investors spooked by fears regulators might clamp down on an asset whose value has skyrocketed in the past year.

Exclusive: J&J attracts Chinese interest for diabetes business in potential $3-4 billion deal - sources

13 hours 6 min ago
HONG KONG (Reuters) - Chinese bidders are circling a diabetes care business owned by the world's largest healthcare company Johnson & Johnson in a deal that could fetch up to $4 billion, five people with direct knowledge told Reuters.

Britain needs to give companies more time to save Carillion-linked jobs: union

13 hours 47 min ago
LONDON (Reuters) - The British government needs to allow more time for firms to take on workers whose jobs are threatened by the collapse of outsourcer Carillion , the head of one of Britain's biggest trade unions said on Wednesday.

GE appoints new CEO for Europe

14 hours 7 min ago
(Reuters) - Industrial conglomerate General Electric has appointed Peter Stracar chief executive and president of its European region, the company said in a statement.

Stocks pull back from record highs, set for second day of losses in new year

14 hours 12 min ago
LONDON (Reuters) - World shares pulled back from record highs on Wednesday, set for only their second day of losses in the new year as lower commodity prices and a string of downbeat updates from companies dampened the mood in global markets.

U.S. charges former Barclays forex trader with fraud

15 hours 8 min ago
LONDON (Reuters) - The U.S. Department of Justice (DoJ) has charged a former Barclays foreign exchange trader over his alleged role in a scheme to defraud a client of the bank, the DoJ said.

Asian shares retreat as commodities ease, bitcoin pummeled

16 hours 50 min ago
TOKYO (Reuters) - Asian equities stepped back from a record high on Wednesday as the region's resource shares were knocked by falling oil and commodity prices while digital currencies tumbled on worries about tighter regulations.

China luxury sales rebound as millennials snap up cosmetics, handbags: report

18 hours 13 min ago
SHANGHAI (Reuters) - China's luxury goods market is back in fashion.

Big U.S. lenders reap benefits of higher rates, but savers not so much

19 hours 4 min ago
NEW YORK (Reuters) - The U.S. Federal Reserve began steadily raising interest rates one year ago, offering a long-awaited tailwind for bank earnings because lenders can charge borrowers more for loans.

Bitcoin jolted by regulation worries, falls 7 percent on extended selloff

19 hours 5 min ago
TOKYO/SINGAPORE (Reuters) - Bitcoin extended its sharp tumble of the past 24 hours, skidding more than seven percent on Wednesday in a rapid downturn in fortunes as investors were spooked by fears regulators might clamp down on an asset whose value has skyrocketed in the past year.

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