U.S. trade envoy meets lawmakers on U.S.-Mexico-Canada deal as time runs short

U.S. trade envoy meets lawmakers on U.S.-Mexico-Canada deal as time runs short
WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer met this week with Democratic lawmakers to try to resolve their concerns about the U.S.-Mexico-Canada (USMCA) trade agreement as Republicans increased pressure to get the deal passed by the end of 2019. FILE PHOTO: U.S. Trade Representative Robert Lighthizer testifies before a Senate Finance Committee hearing on “The President’s 2019 Trade Policy... Read More

Microsoft forecasts cloud sales above expectations

Microsoft forecasts cloud sales above expectations
(Reuters) – Microsoft Corp (MSFT.O) on Wednesday forecast sales for its cloud computing services that topped analysts’ estimates, even as quarterly growth slows for its Azure business. FILE PHOTO: An employee uses an augmented reality headset at Microsoft’s new Oxford Circus store ahead of its opening in London, Britain July 9, 2019. REUTERS/Simon Dawson Microsoft said it expected “intelligent cloud”... Read More

Tesla shares soar 21% as surprise profit answers skeptics

Tesla shares soar 21% as surprise profit answers skeptics
(Reuters) – Tesla Inc (TSLA.O) on Wednesday surprised investors by posting a profitable third quarter, boosted by record deliveries, cost cuts and improved production schedules for its new electric vehicle model, causing shares to soar in after-market trading. FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in this photo illustration taken in Cardiff, California, U.S., June 1,... Read More

Israeli fashion mogul submits bid for Barneys, challenging Authentic Brands

Israeli fashion mogul submits bid for Barneys, challenging Authentic Brands
FILE PHOTO: The Barneys New York sign is seen outside the luxury department store in New York, U.S., July 31, 2019. REUTERS/Shannon Stapleton/File Photo NEW YORK (Reuters) – Israeli businessman Samuel Ben-Avraham said on Wednesday he has submitted an offer for Barneys New York Inc, challenging a $271 million bid for the bankrupt luxury department store from brand developer Authentic... Read More

Amazon buys healthcare start-up Health Navigator

Amazon buys healthcare start-up Health Navigator
FILE PHOTO: The Amazon logo is seen at the Amazon fulfilment center in Bretigny-sur-Orge near Paris, France, October 22, 2019. REUTERS/Pascal Rossignol/File Photo (Reuters) – Amazon.com Inc said on Wednesday it bought healthcare start-up Health Navigator, its second purchase in the healthcare services industry. The deal comes after the company acquired online pharmacy PillPack last year, pitting itself against drugstore... Read More

J&J slashes third-quarter profit by $3 billion over proposed opioid deal

J&J slashes third-quarter profit by $3 billion over proposed opioid deal
FILE PHOTO: The U.S. flag is seen over the company logo for Johnson & Johnson to celebrate the 75th anniversary of the company’s listing at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. REUTERS/Brendan McDermid (Reuters) – Johnson & Johnson (JNJ.N) on Wednesday lowered its previously reported third-quarter profit by $3 billion to account for... Read More

Ford cuts full-year profit outlook as third-quarter profit dips

Ford cuts full-year profit outlook as third-quarter profit dips
DEARBORN, Mich. (Reuters) – Ford Motor Co (F.N) on Wednesday cut its forecast for operating profit for the year after a disappointing third quarter that Chief Executive Jim Hackett blamed on higher warranty costs, bigger discounts and weaker than expected performance in China. FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan,... Read More

Huawei exposure roils Xilinx’s revenue forecast

Huawei exposure roils Xilinx’s revenue forecast
(Reuters) – Xilinx Inc (XLNX.O) on Wednesday forecast current-quarter and full-year revenue below Wall Street estimates, the second major chipmaker this week to flag the impact of a prolonged U.S.-China trade dispute on its business. FILE PHOTO: A Xilinx sign is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai, China November... Read More

Forecast points to deepening Illinois budget deficit

Forecast points to deepening Illinois budget deficit
FILE PHOTO: llinois Governor J.B. Pritzker delivers remarks at the North America’s Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon CHICAGO (Reuters) – Illinois’ budget deficit will top $3 billion and its pile of overdue bills will hit a new record high by fiscal 2025 if the state’s “unsustainable” tax structure remains in... Read More