Starbucks shares fell as much as 3 percent in after-hours trading, before settling at $62, down 0.8 percent. Global sales at cafes open at least 13 months rose 8 percent in the fiscal fourth quarter, beating the 6.9 percent rise expected by analysts polled by research firm Consensus Metrix. China’s cooling economy has global investors on edge and already has been blamed for soft results from KFC and Pizza Hut
Exxon Mobil Corp said on Friday its third-quarter profit fell 47 percent hit by low crude prices, but results were better than expected, helped by higher profits in the oil company’s refining business. …
U.S. President Barack Obama early Friday won congressional passage of legislation that lifted the threat of a default on government debt through the end of his presidency and a budget blueprint easing strict spending caps through September 2017. The Senate voted 64-35 to approve the measure, which was negotiated over the past few weeks by the White House and congressional leaders, including former House Speaker John Boehner, who retired from
Consumer spending in September posted the smallest gain in eight months, a sign that shoppers grew cautious at the end of the third quarter. Americans increased their spending just 0.1 percent, the Commerce …
Valeant also said Philidor had informed it that it would shut down operations as soon as possible. Valeant and Philidor, which has helped to drive sales for the Canadian drugmaker, have come under fire after influential short-seller Citron Research said Philidor was being used to create “phantom accounts” and inflate Valeant’s revenue. Valeant has denied any wrongdoing.
The drugstore operator’s profit missed analysts’ estimates for the first time in six quarters, as its $10-billion Omnicare acquisition failed to offset pressure from lower reimbursement rates and new low-margin generic drugs. The weak forecast from CVS, the No.2 U.S. drugstore chain by store count, comes in the same week that larger rival Walgreens Boots Alliance Inc (WBA.O) said it would buy No.3 Rite Aid Corp (RAD.N) for $9.4 billion.
Congress early Friday sent President Barack Obama an ambitious budget and debt measure that averts a catastrophic national default and sets spending priorities for the next two years. The Senate voted …
It was even worse than it looked.
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Paul Ryan now has the job he said all along he never wanted.