Category Archives: Business

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Bank of America 2Q profits boosted by tax law, higher rates

Bank of America’s second-quarter profits jumped 33 percent from a year earlier, the company said Monday, as like nearly all other big banks, it benefited greatly from the new tax law. The bank also benefited from the recent rise in interest rates, allowing it to charge more for customers to borrow.

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Stocks move higher on Wall Street

Stocks are moving higher on Wall Street as worries about trade tensions take a back seat and investors look ahead to company earnings reports.

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Asian stocks down as multiple trade disputes worry investors

Asian stocks fell Friday following Wall Street losses overnight as investors were still wary over trade disputes between China and the U.S. as well as between the U.S. and Europe that could hurt corporate profit and jobs.

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DasCoin set to trade on public exchanges

DasCoin, the Currency of Trust and the store of value within DasEcosystem, has completed a well structured two-year journey of preparation and strategic activity to develop its business platform. The company is delighted to announce it is now ready to launch onto public exchanges in conjunction with a landmark launch event to be held in London on April 27, 2018.

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General Electric shares rise despite 1Q loss

Slumping industrial conglomerate General Electric won a reprieve on Wall Street Friday after reporting strong results in some divisions even as it suffered a quarterly loss due to a hefty legal charge.

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US fines Wells Fargo $1 bn for mortgage, auto loan violations

Wells Fargo agreed Friday to pay $1 billion in fines over US allegations of bank misconduct that damaged consumers — the largest such penalty so far under the administration of President Donald Trump, who has lambasted the scandal-hit bank.

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Tokyo stocks end flat as traders await US-Japan summit

Tokyo stocks closed flat Tuesday in sluggish trading as investors retreated to the sidelines to await the outcome of a US-Japan summit expected to be dominated by trade tensions and North Korea.

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US firm Advent to buy Sanofi’s generics unit

US private equity firm Advent International has agreed to acquire Zentiva, French pharmaceutical giant Sanofi’s European generics arm, for 1.9 billion euros ($2.4 billion), a statement said Tuesday.

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Qatar raises record $12 bn in first bond sale since 2016

Qatar raised $12 billion (9 billion euros) in its first dollar bond sale in two years and it is the biggest dollar bond from an emerging-market nation this year, according to Bloomberg.

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JPMorgan Chase reports higher profits, upbeat outlook

JPMorgan Chase reported a jump in first-quarter earnings Friday, lifted by higher interest rates and revenue growth in core businesses.