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By Tova Cohen TEL AVIV (Reuters) – Network security provider Check Point Software Technologies plans to sharpen its focus on threat-prevention and mobile security, it said on Monday after posting better than expected first-quarter profit. Chief Executive Gil Shwed spoke of increased investment in new technologies and staff to cement the company’s position of strength in a vibrant Israeli tech sector that accounts for about 12.5 percent of economic output
India’s central bank is working on improving the integration between e-commerce firms and the country’s banking systems, a deputy governor of the Reserve Bank of India (RBI) said on Monday. “One area which we will now be looking at very closely, which is emerging, is how to provide integration between e-commerce platforms and banks,” Deputy Governor H.R. Khan said at a banking industry event. India’s fast growing e-commerce market is
Yahoo Finance’s Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.
U.S. stocks gained more than 1 percent on Monday amid an unexpected stimulus from China’s central bank as investors kept eyeing corporate earnings.
Oppenheimer’s Ari Wald says the chart of crude reminds him strongly of 2009. And that’s good news for the oil bulls.
Former Federal Reserve Chairman Paul Volcker is calling for a reshaping of the U.S. financial oversight regime, which he says is splintered and ineffective.
Economic performance will determine when the Federal Reserve finally raises U.S. interest rates from near zero, an influential Fed official said on Monday, adding he hopes to tighten policy later this year. “We have to see what unfolds,” New York Fed President William Dudley said in a speech that repeated cautious optimism that the U.S. economy will continue to expand and that inflation will begin to firm later this year.
Oil prices fell to under $63 a barrel on Monday after Saudi Arabian Oil Minister Ali al-Naimi said production in the world’s biggest crude exporter would stay near record peaks.
The bank’s trading business, like those of its main rivals, got a boost in the quarter after the Swiss central bank scrapped a cap on the franc, the European Central Bank announced its quantitative easing program and the U.S. Federal Reserve took steps toward tightening monetary policy. Morgan Stanley capped a mostly strong quarter for the big U.S. banks with its 60 percent rise in net profit, followed by Goldman
Revenue fell by 4 percent to $7.05 billion in the first quarter, but beat analysts’ average expectation of $6.96 billion, according to Thomson Reuters I/B/E/S, helped by strength in the Middle East and Asia and Latin America. North America, which accounted for more than half the company’s first-quarter revenue, “experienced an unprecedented decline in drilling activity,” Chief Executive Dave Lesar said in a statement. The average U.S. rig count has
