Intel Raises Third-Quarter Guidance
Sept. 16, 2016 9:38 a.m. ET Intel Corp. INTC 2.52 % on Friday raised its revenue forecast for the third quarter amid signs of improving demand in the personal-computer market. The chip maker said it now expects third-quarter revenue of $15.6 billion, plus or minus $300 million, up from a previous range of $14.9 billion, plus or minus $500 million. Intel said the guidance increase comes as inventory in the PC supply chain needed to be replenished, and that the company ha..>> view originalEconomic costs of Middle East wars exceptionally high -IMF study
By David Lawder | WASHINGTON, Sept 16 WASHINGTON, Sept 16 Armed conflicts in the Middle East and North Africa are not only devastating the economies gripped by fighting, but are sapping growth in neighboring countries and those hosting millions of refugees, the International Monetary Fund said on Friday.In a new study analyzing 179 conflict countries since 1970 to quantify economic costs, the IMF found that the drops in economic output in war-torn Syria, Libya and Yemen in recent years have ..>> view originalDeutsche Bank to fight $14 billion demand from US authorities
By Arno Schuetze | FRANKFURT FRANKFURT Deutsche Bank (DBKGn.DE) said it would fight a $14 billion demand from the U.S. Department of Justice to settle claims it missold mortgage-backed securities, a shock bill that raises questions about the future of Germany's largest lender.The claim against Deutsche, which is likely to trigger several months of talks, far exceeds the bank's expectations that the DoJ would be looking for a figure of only up to 3 billion euros ($3.4 billion).The demand adds..>> view originalWells Fargo faces scrutiny over lack of sales scandal disclosure
NEW YORK A phantom account scandal at Wells Fargo & Co has put the U.S. bank's disclosure policies under a harsh spotlight.Despite press reports that a federal regulator and the Los Angeles prosecutor were investigating sales practices at retail branches of the San Francisco-based lender, the bank, which agreed to a $190 million settlement, gave investors no indication of the scale of the problem.The surprise spooked investors and has lopped roughly $19 billion off its market value since the p..>> view originalCMO Today: Jessica Alba's Honest Co. In Sale Talks With Unilever
MAKE AN HONEST BUCK: Consumer goods giant Unilever is in talks to acquire Honest Co., the retailer co-founded by actress Jessica Alba, in a deal valued at more than $1 billion, The Wall Street Journal reports. That’s a big figure, sure, but it’s significantly less than the $1.7 billion valuation Honest received in a fundraising round last year. The deal would give Unilever, a marketing behemoth with brands like Axe and Dove, access to the growing “green” cleaning market, as well as the diaper ..>> view originalGas Prices to Rise as Pipeline Spill Sparks Supplier 'Red Alert'
Gasoline prices are set to jump across the eastern U.S. after a spill from the country’s largest fuel pipeline choked off supplies.A leak in Alabama Sept. 9 shut the main gasoline pipeline delivering fuel from refineries along the Gulf Coast to 50 million Americans in states from Mississippi to New Jersey. Colonial Pipeline Co. said on Thursday it pushed back the estimate for a complete startup of its Line 1 to next week from this weekend, citing adverse weather conditions overnight that slowed..>> view originalFord shifting all US small-car production to Mexico
DETROIT — Acting on investment plans that have become a lightning rod for controversy in this year’s presidential campaign, Ford on Wednesday announced it will shift all North American small-car production from the U.S. to Mexico.“Over the next two to three years, we will have migrated all of our small-car production to Mexico and out of the United States,” Ford CEO Mark Fields said. Ford isn’t the first automaker to make such a move. Mexico has become a mecca for new automotive industry invest..>> view originalHitachi Keeps Faith in U.K. Nuclear Even as Green Costs Plunge
Hitachi Ltd.’s U.K. nuclear unit is sticking with its “aggressive” plan to build at least four reactors in the U.K. even as wind, solar and battery technology costs keep falling.Renewable energy still needs to be complemented by round-the-clock output of nuclear power for periods when the wind stops blowing and during the night, Duncan Hawthorne, chief executive officer of Horizon Nuclear Power Ltd. said in an interview in London. New nuclear plants too can be built faster because designs have ..>> view originalUS Consumer Price Index rose 0.2% in Aug vs. 0.1% increase expected
But against the backdrop of a raft of disappointing economic reports for August, including weak retail sales and industrial production, as well as a slowdown in job growth, the U.S. central bank is expected to leave interest rates unchanged. The Fed has a 2 percent inflation target and tracks an inflation measure which has been stuck at 1.6 percent since March. Fed Governor Lael Brainard said on Monday she wanted to see stronger consumer spending data and signs of rising inflation before hiki..>> view originalExxon's Accounting Practices Are Investigated
Sept. 16, 2016 5:33 a.m. ET New York Attorney General Eric Schneiderman is investigating why Exxon Mobil Corp. XOM -0.75 % hasn’t written down the value of its assets, two years into a pronounced crash in oil prices. Mr. Schneiderman’s office, which has been probing Exxon’s past knowledge of the impact of climate change and how it could affect its future business, is also examining the company’s accounting practices, according to people familiar with the matter. An Exxo..>> view original
Tuesday, September 20, 2016
Intel Raises Third-Quarter Guidance and other top stories.
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