Cisco earnings beat, expects minimal impact from U.S.-China trade war

Cisco earnings beat, expects minimal impact from U.S.-China trade war
(Reuters) – Cisco Systems Inc reported better-than-expected quarterly earnings on Wednesday and gave an upbeat sales forecast for the current period, as its reduced exposure to China is expected to cushion any blows from an ongoing trade war. FILE PHOTO: The logo of U.S. networks giant Cisco Systems is seen at their headquarters in Issy-les-Moulineaux, near Paris, France, April 3,... Read More

Harvey Weinstein’s former film studio seeks to liquidate in bankruptcy

Harvey Weinstein’s former film studio seeks to liquidate in bankruptcy
FILE PHOTO: Harvey Weinstein, Co-Chairman of The Weinstein Company, speaks at the UBS 40th Annual Global Media and Communications Conference in New York December 5, 2012. REUTERS/Carlo Allegri/File Photo (Reuters) – The film studio once run by Harvey Weinstein said it plans to liquidate in bankruptcy, as it tries to resolve civil lawsuits against former officers and directors arising from... Read More

Big U.S. hedge funds regain ardor for FAANGs in first quarter: filings

Big U.S. hedge funds regain ardor for FAANGs in first quarter: filings
(Reuters) – Some of the biggest, highest-profile U.S. hedge fund investors and money managers fell back in love with FAANGs in the first quarter, according to regulatory filings released on Wednesday. Facebook, Amazon, Netflix and Google logos are seen in this combination photo from Reuters files. REUTERS/File Photos After dumping shares of Facebook Inc, Apple Inc, Amazon.com Inc, Netflix Inc... Read More

Advisory firms say AIG shareholders should vote ‘no’ on executive pay

Advisory firms say AIG shareholders should vote ‘no’ on executive pay
NEW YORK (Reuters) – American International Group Inc shareholders should vote against compensation packages for top executives at the insurer’s annual meeting next week, according to two advisory firms that hold sway over investor votes. FILE PHOTO: American International Group Inc. (AIG) headquarters seen on the day of the company’s 2017 annual shareholder meeting at 175 Water Street, New York,... Read More

Buffett’s Berkshire unveils $861 million Amazon stake

Buffett’s Berkshire unveils $861 million Amazon stake
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos. FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, Jan. 19, 2019. REUTERS/Pascal Rossignol/File Photo The size... Read More

Trump order clears way for barring Huawei from U.S. telecommunications networks

Trump order clears way for barring Huawei from U.S. telecommunications networks
FILE PHOTO: The Huawei logo is seen at a bus stop in Mexico City, Mexico February 22, 2019. REUTERS/Daniel Becerril/File Photo WASHINGTON (Reuters) – President Donald Trump on Wednesday signed an executive order declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk, paving the way for a ban on... Read More

Buffett’s Berkshire reveals $861 million Amazon stake

Buffett’s Berkshire reveals $861 million Amazon stake
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after... Read More

U.S. close to resolving tariff dispute with Canada, Mexico: Mnuchin

U.S. close to resolving tariff dispute with Canada, Mexico: Mnuchin
WASHINGTON (Reuters) – The United States is close to resolving a dispute over steel and aluminum tariffs with Canada and Mexico, U.S. Treasury Secretary Steven Mnuchin said on Wednesday, but Canada’s foreign minister avoided direct comment on the prospects for a deal. U.S. Treasury Secretary Steven Mnuchin testifies before a Senate Appropriations subcommittee on Capitol Hill in Washington, U.S. May... Read More

Boeing, aerospace group urge limits to U.S. tariffs over EU subsidies

Boeing, aerospace group urge limits to U.S. tariffs over EU subsidies
WASHINGTON (Reuters) – Senior officials from Boeing Co and a U.S. aerospace trade group on Wednesday urged the U.S. government to narrowly tailor any tariffs imposed on the European Union over illegal aircraft subsidies to avoid harming American manufacturers. The company logo for Boeing is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in... Read More

Cisco quarterly earnings beat estimates; shares rise

Cisco quarterly earnings beat estimates; shares rise
FILE PHOTO: The logo of U.S. networks giant Cisco Systems is seen at their headquarters in Issy-les-Moulineaux, near Paris, France, April 3, 2018. REUTERS/Philippe Wojazer/File Photo (Reuters) – Cisco Systems Inc reported quarterly earnings above analysts’ estimates on Wednesday, boosted by growth in its traditional business of selling switches and routers, as well as strength in its focus areas such... Read More