With sales sputtering, Apple's iPad looks to IBM alliance
Wed 4:00am Apple Inc's iPad is losing steam just four years after its release, but an alliance with International Business Machines Corp could rejuvenate a flagging product by entering into a largely untapped corporate market. Apple shipped 13.2 million iPads in the June quarter, 8 percent fewer than a year earlier and lagging Wall Street's forecast for 14 million or more. Apple helped create the tablet market in 2010 with its first iPad. Chief Executive Officer Tim Cook described iPad sales as "very bifurcated" - they continue to grow at 50 percent or above in emerging markets such as the Middle East and China, but in developed countries like the United States, the "market is weaker."
NY Fed found serious problems at Deutsche Bank's U.S. arms: source ...
The Federal Reserve Bank of New York has found serious problems in Deutsche Bank's U.S. operatioWed 3:58am The Federal Reserve Bank of New York has found serious problems in Deutsche Bank's U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, a person close to the matter told Reuters. In a letter to the German lender's executives last December, a senior official with the New York Fed described financial reports produced by some of the bank's U.S. divisions as "low quality, inaccurate and unreliable", said the source, who is familiar with the letter. The New York Fed, as the U.S. central bank's eyes and ears on Wall Street, directly supervises the biggest U.S. and foreign banks, partly through embedded regulators who go to work each day inside the banks. Deutsche Bank shares lost 1.8 percent in early trading, the biggest decliners on both Germany's blue-chip index and among the European banking sector, on fears that U.S. regulators could take action against the bank.
European shares edge up on earnings, risk aversion remains
By Lionel Laurent LONDON (Reuters) - European equities edged higher in early trade on Wednesday, extending gaWed 3:47am By Lionel Laurent LONDON (Reuters) - European equities edged higher in early trade on Wednesday, extending gains from Tuesday after a batch of positive earnings and U.S. economic data briefly calmed worries over stretched valuations and the pace of economic recovery. The pan-European FTSEurofirst 300 share index was 0.3 percent higher at 0742 GMT, buoyed by better-than-expected earnings from German automaker Daimler and Dutch paint-and-chemicals firm AkzoNobel. Gains were more muted in Europe - where the pace of economic recovery and the impact of a Russia slowdown have worried investors - than in much of Asia or the United States, where stocks hit fresh milestones and where earnings from bellwethers such as Apple Inc and Verizon topped forecasts. "Geopolitical tensions are preventing a better market development in Europe," said Christian Stocker, equity strategist at UniCredit.
Global stocks bolstered by US earnings, home sales
Wed 2:52am SEOUL, South Korea (AP) — Global stocks mostly rose Wednesday, bolstered by solid U.S. earnings and home sales as tensions between Russia and the West over Ukraine eased.
Wall Street rejects Ackman's Herbalife 'death blow'
By Svea Herbst-Bayliss and Ryan Vlastelica NEW YORK (Reuters) - Billionaire investor William AckmanWed 2:24am By Svea Herbst-Bayliss and Ryan Vlastelica NEW YORK (Reuters) - Billionaire investor William Ackman's latest volley of accusations against Herbalife Ltd on Tuesday missed its mark on Wall Street, with investors sending the stock price soaring 25 percent. Ackman, who has been battling the California-based nutrition company for 19 months and has a $1 billion bet it will eventually go bust, told 500 people in a New York auditorium - and thousands watching the webcast - that Herbalife is a criminal enterprise that targets minorities, counts non-existent customers, and breaks labor laws. Ackman's $14.7 billion hedge fund Pershing Square Capital Management unveiled its $1 billion short bet against Herbalife in December 2012, calling the company a pyramid scheme where members earn more money from recruiting than by actually selling products to end users. Herbalife has rejected the claims.
Europe edges up on earnings, risk aversion remains
European equities edged higher in early trade on Wednesday, extending gains fWed 2:16am European equities edged higher in early trade on Wednesday, extending gains from Tuesday after a batch of positive earnings and U.S. economic data briefly calmed worries over stretched valuations and the ...
Europe edges up on earnings, risk aversion remains
Wed 1:41am * Geopolitical tensions keep bonds, euro trading cautiously "Markets will be dominated by consolidation moves due to the uncertainty, combined with high valuations."
Better earnings provide support for European shares, led by Daimler ...
Wed 1:36am European stocks rose on Wednesday on the back of generally strong earnings despite investors' concerns over the possibility of fresh European Union sanctions against Russia over the Ukraine crisis. German ...
KPIT Technologies falls on earnings
Wed 1:13am Reuters Market Eye - Shares in KPIT Technologies Ltd fell as much as 8 percent, heading towards their biggest single day drop since January 2014. KPIT Technologies on Tuesday reported April-June net profit fell 17 percent. Analysts attributed the fall in profit to weak revenue growth, fall in margins due to wage hike, acquisition impact, visa costs and currency appreciation. "The management was confident of strong improvement in revenue momentum from September ending quarter," Prabhudas Lilladher said in a report to clients. (Reporting by Dipika Lalwani)
European shares steady on mixed earnings, Ukraine caution
Wed 12:23am European stocks held steady on Wednesday, stabilising after a surge in the previous session as traders digested mixed earnings and the possibility of fresh EU sanctions against Russia over Ukraine and ...
Asia stocks bolstered by US earnings, home sales
SEOUL, South Korea (AP) — Asian stock markets mostly rose Wednesday, bolstered by solid U.S. earniTue 11:14pm SEOUL, South Korea (AP) — Asian stock markets mostly rose Wednesday, bolstered by solid U.S. earnings and home sales. Indonesian stocks advanced after the official vote count showed Joko Widodo the clear winner of a bitterly contested presidential election.
ING Vysya falls on earnings, CSuisse downgrade
Tue 11:09pm Reuters Market Eye - ING Vysya Bank falls as much as 6.7 percent after April-June net profit declines 18 percent from year earlier. Credit Suisse downgrades the stock to "neutral" from "outperform" and cuts price target to 573 rupees from 710 rupees. "We expect NIMs (net interest margins) may come under further pressure as the bank is raising share of large corporates in the loan book," Credit Suisse said. Shares in the lender were down 3. percent to 595.80 rupees at 11:06 a.m. (Reporting by Indulal PM)