Oil was $2 a barrel higher on Wednesday after the U.S. government reported a crude inventory build squarely within market expectations, extending gains after an earlier rally triggered by what the market described as a big algorithmic trade. The U.S. Energy Information Administration (EIA) said crude stockpiles rose 3.4 million barrels last week, matching analysts’ expectations in a Reuters poll.
Twitter Inc may be counting on Moments to drive growth, but the moment for celebrating a turnaround still looks far off. Anyone hoping that Chief Executive Jack Dorsey’s plans to boost growth would have had a big impact on third-quarter results would have been disappointed. Twitter reported both anemic user growth for the three months to Sept. 30 and offered up a tepid revenue forecast for the current quarter on
TOKYO (Reuters) – Japan’s Nintendo Co reported a weaker-than-expected operating profit for the July-September quarter but maintained its outlook for the full year, citing firm sales of Nintendo 3DS consoles and its planned entry into smartphone games. Nintendo’s fiscal second-quarter operating profit fell slightly to 7.8 billion yen ($64.77 million) from 9.3 billion yen a year earlier. That compared with the average 9.3 billion yen estimate of 19 analysts, Thomson
Barclays will pay incoming chief executive James “Jes” Staley up to 8.24 million pounds ($12.6 million) a year after appointing the former JPMorgan investment bank boss to one of the most prominent posts in British business. Staley will join Barclays at the start of December, having been widely expected to be appointed after sources and media reports said he had been chosen pending regulatory approval. American-born Staley, 58, faces challenges
By Makiko Yamazaki TOKYO (Reuters) – Japan’s Toshiba Corp said on Wednesday it will sell its image sensor business to Sony Corp and overhaul its unprofitable semiconductor businesses as it works to recover from a $1.3 billion accounting scandal. Toshiba will sell its image sensor manufacturing plant in Oita, southern Japan, to Sony by the end of the fiscal year through March and pull out of the sensor business, the
(Reuters) – International Business Machines Corp said on Wednesday it would buy the Weather Company’s digital assets to boost its Watson cloud and Internet of Things platforms. IBM did not disclose the financial terms of the deal, which does not include the Weather Channel. The Weather Channel will use weather forecast data and analytics from IBM under a long-term contract.
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If you’re like most Americans, you have wondered at some point – probably monthly – why your cable bill is so high. And for good reason. The average cable bill in the United States rose 5% in 2012, the latest year available. That’s nearly triple the rate of inflation.
Donald Trump faces the risk that Ben Carson will corner the outsider vote if he wins the Iowa Caucus, former GOP campaign adviser Kevin Hassett says.
China’s economy could overshoot the International Monetary Fund’s forecast and grow close to 7 percent this year although the outlook for the medium term is more uncertain, a senior IMF official said on Wednesday. Changyong Rhee, director of the IMF’s Asia and Pacific Department, said potential spillovers from China to other regional economies were larger than expected. China’s growth rate of 6.9 percent between July and September meant the country