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Updated: 36 min 8 sec ago

Starbucks to close 150 U.S. cafes to combat slowing growth

Tue, 06/19/2018 - 6:07pm
(Reuters) - Starbucks Corp on Tuesday said it would close 150 cafes in some saturated U.S. markets and warned comparable sales globally this quarter would miss Wall Street expectations, sending shares down 3 percent after hours.

White House piles pressure on China after Trump tariff threat

Tue, 06/19/2018 - 5:53pm
WASHINGTON/BEIJING (Reuters) - China has underestimated U.S. President Donald Trump's resolve to impose more tariffs unless it changes its "predatory" trade practices, a White House trade adviser said on Tuesday, as Trump greatly expanded the amount of Chinese imports possibly facing new duties.

Walgreens to replace GE in Dow Jones Industrial Average

Tue, 06/19/2018 - 5:49pm
(Reuters) - Walgreens Boots Alliance Inc will replace General Electric Co in the Dow Jones Industrial Average from June 26, S&P Dow Jones Indices said https://bit.ly/2K4IoSE on Tuesday.

Walt Disney names creative heads of animation studios

Tue, 06/19/2018 - 5:17pm
(Reuters) - Walt Disney Co on Tuesday split the role of its outgoing creative head John Lasseter and appointed two Academy award winners to spearhead its two animation studios.

Oracle's quarterly results beat estimates on cloud growth

Tue, 06/19/2018 - 5:11pm
(Reuters) - Business software maker Oracle Corp reported a better-than-expected quarterly profit and revenue on Tuesday as more customers move toward its high-margin cloud business.

Trade fears rattle Wall Street, Dow gives up 2018 gains

Tue, 06/19/2018 - 4:54pm
NEW YORK (Reuters) - U.S. stocks fell on Tuesday as a sharp escalation in the trade dispute between the United States and China rattled markets and put the Dow Jones Industrial Average back in negative territory for the year.

Starbucks forecasts same-store sales below estimates

Tue, 06/19/2018 - 4:53pm
(Reuters) - Starbucks Corp on Tuesday forecast global comparable store sales for the current quarter below estimates and said it would close more cafes as the coffee chain continues to face increased competition from upscale coffee houses and fast-food chains.

Oracle's quarterly results beat estimates

Tue, 06/19/2018 - 4:21pm
(Reuters) - Business software maker Oracle Corp reported a better-than-expected quarterly profit and revenue on Tuesday as more customers move toward its high-margin cloud business.

ZTE and U.S. still working on escrow agreement: U.S. official

Tue, 06/19/2018 - 4:16pm
(Reuters) - ZTE Corp and the U.S. government are still working on an escrow agreement that must be completed and funded with $400 million before a ban on the Chinese company can be lifted, a U.S. official told Reuters on Tuesday.

New head of FDIC plans to review financial health rating system

Tue, 06/19/2018 - 3:45pm
WASHINGTON (Reuters) - The newly appointed head of the Federal Deposit Insurance Corporation (FDIC) said on Tuesday said she plans to review the decades-old system for measuring lenders' financial health, which banks say is outdated.

Wall Street falls, Dow gives up 2018 gains on trade war fears

Tue, 06/19/2018 - 3:26pm
NEW YORK (Reuters) - U.S. stocks fell on Tuesday as a sharp escalation in the trade dispute between the United States and China rattled the markets, though the three major indexes pared losses from earlier in the session.

Ford to redevelop symbol of Detroit decline to house tech workers

Tue, 06/19/2018 - 3:16pm
DETROIT (Reuters) - Ford Motor Co executives on Tuesday said the automaker will renovate and revamp Michigan Central Station, Detroit's infamous blighted landmark, turning it into offices for up to 5,000 tech workers and software engineers focused on self-driving vehicles and ancillary technologies and services.

Trump threatens almost all imports from China as Beijing fires back

Tue, 06/19/2018 - 3:00pm
WASHINGTON/BEIJING (Reuters) - China has underestimated President Donald Trump's resolve to move forward with tariffs unless Beijing changes its "predatory" trade practices, a top U.S. trade advisor said on Tuesday, in comments that diminished the chances of a negotiated settlement to a looming trade war between the world's economic superpowers.

Merrill Lynch to pay $42 million for misleading customers: SEC

Tue, 06/19/2018 - 2:37pm
WASHINGTON (Reuters) - Bank of America Corp subsidiary Merrill Lynch will pay a $42 million penalty for lying to customers about how it handled their orders, the top U.S. securities regulator said on Tuesday.

FedEx shares hit by U.S.-China trade tensions ahead of earnings

Tue, 06/19/2018 - 2:19pm
NEW YORK (Reuters) - FedEx Corp shares suffered their worst sell-off in two months ahead of the package delivery company's quarterly results on Tuesday, as the latest U.S.-China trade tensions stoked fears that swept through the industrial sector.

Facebook expands offerings for video creators to cash in on views

Tue, 06/19/2018 - 1:32pm
SAN FRANCISCO (Reuters) - Facebook Inc launched a matchmaking system Tuesday to cultivate partnerships between advertisers and video creators as the world's largest social media company tries to quickly parallel the variety of commercial opportunities offered by its video rival YouTube.

Wall Street lower, Dow gives up 2018 gains as trade war fears heighten

Tue, 06/19/2018 - 1:22pm
(Reuters) - U.S. stocks fell on Tuesday and the Dow Jones Industrial Average turned negative for the year as a sharp escalation in U.S.-China trade dispute rattled the markets.

Trump determined to hit China as tit-for-tat tariff war erupts

Tue, 06/19/2018 - 12:41pm
WASHINGTON/BEIJING (Reuters) - China has underestimated President Donald Trump's resolve to press ahead with tariffs unless Beijing changes its "predatory" trade practices, a top U.S. trade advisor said on Tuesday, in comments that undercut the chances of a negotiated settlement to a looming trade war between the world's economic superpowers.

Italian prosecutor appeals against Morgan Stanley case ruling

Tue, 06/19/2018 - 12:39pm
ROME (Reuters) - Italian prosecutors said on Tuesday they would appeal against a decision by an administrative court not to hear a case over derivatives that targeted Morgan Stanley .

Apple CEO to advocate end to 'inhumane' immigrant children separation: Irish Times

Tue, 06/19/2018 - 11:54am
DUBLIN (Reuters) - Apple Chief Executive Tim Cook has described the separation of children from immigrant parents at the U.S.-Mexico border as "inhumane" and promised to be a "constructive voice" in seeking to end the issue, the Irish Times newspaper reported.

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