Category: Latest News
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Yahoo profit beats Wall St., some analysts worry over effect of hack
By Deborah M. Todd SAN FRANCISCO (Reuters) – Yahoo Inc reported better-than-expected quarterly adjusted profit on Tuesday, a boost for the beleaguered company whose deal to sell its core business to Verizon Communications Inc has been shaken by a massive data breach. Verizon's general counsel said last week that the hack, which affected at least…
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Weak utilities demand restrains U.S. industrial production
U.S. industrial production barely rose in September as a rebound in manufacturing and mining output was offset by surprisingly weak demand for utilities, pointing to a moderate acceleration in economic growth in the third quarter. Gains in output are likely to be muted as the sector remains constrained by the lingering effects of the dollar's…
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Wall Street’s gains fade as Yellen questions economy’s resilience
(Reuters) – U.S. stocks ended little changed on Friday, losing ground late after Federal Reserve Chair Janet Yellen's comments on the economy unnerved investors.
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Wells Fargo’s new CEO faces immediate test
Tim Sloan will not have much time to prepare his pitch for Wall Street. The newly installed chief executive of Wells Fargo & Co will present third-quarter results on Friday, less than 48 hours after replacing John Stumpf at the helm of the bank. Sloan's nearly 30 years with Wells, largely spent on the corporate…
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Wall Street sells off on weak earnings, election fears
Illumina shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Although overall S&P 500 earnings are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected reports would result in a positive quarter.…
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Wall Street sees Fed rate hike by year-end after jobs data: Reuters poll
A solid U.S. jobs report for September reinforced expectations among Wall Street's top banks that the Federal Reserve would raise interest rates by the end of the year, according to a Reuters poll conducted on Friday. Fourteen of the 15 primary dealers that responded to the poll forecast a rate hike at the U.S. central…
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Yahoo hack may become test case for SEC data breach disclosure rules
By Dustin Volz WASHINGTON (Reuters) – Yahoo's disclosure that hackers stole user data from at least 500 million accounts in 2014 has highlighted shortcomings in U.S. rules on when cyber attacks must be revealed and their enforcement. Democratic Senator Mark Warner this week asked the U.S. Securities and Exchange Commission to investigate whether Yahoo and…