Gap pulls plug on Old Navy spinoff to focus on turning around sales

© Reuters. FILE PHOTO: Logo of GAP clothing retailer is seen at company’s store at Tbilisi Mall in Tbilisi By Uday Sampath Kumar (Reuters) – Gap Inc (N:) on Thursday scrapped its plan to spin-off Old Navy and said it would instead work to stem dropping sales, while fewer discounts during the holiday season helped […]

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Trade deal no panacea for rocky U.S. relations with China

By Andrea Shalal and Cate Cadell WASHINGTON/BEIJING (Reuters) – From Huawei to the South China Sea, deep political rifts between Beijing and Washington are set to persist, despite a trade relations breakthrough, as the United States pushes back against an increasingly powerful and assertive China. Relations between the world’s two largest economies have deteriorated sharply […]

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Day Ahead: Top 3 Things to Watch for Jan. 16

© Reuters. Investing.com – Here are three things that could rock the markets tomorrow. By Kim Khan Investing.com – Here are three things that could rock the markets tomorrow. 1. Morgan Stanley (NYSE:) Leads More Financial Earnings Another batch of financial company earnings comes tomorrow. This weeks results have been mostly positive, but with a […]

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PNC Financial fourth-quarter profit rises 2%

(Reuters) – U.S. regional bank PNC Financial Services Group Inc (N:) posted a 2.2% rise in fourth-quarter profit on Wednesday, helped by growth in its loan portfolio. The Pittsburgh, Pennsylvania-based bank’s net income attributable to common shareholders rose to $ 1.30 billion, or $ 2.97 per share, in the quarter ended Dec. 31, from $ […]

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Trump says Apple refusing to unlock phones used by ‘killers, drug dealers’

WASHINGTON (Reuters) – President Donald Trump said on Tuesday that Apple Inc (O:) has refused to unlock phones used by criminals, in a tweet a day after Trump’s attorney general accused the company of not being helpful in an investigation of a Florida shooting. “We are helping Apple all of the time on TRADE and […]

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Breaking: JPMorgan Q4 Earnings Blow Past Expectations

© Reuters. By Geoffrey Smith Investing.com — JPMorgan Chase’s (NYSE:) earnings blew past expectations in the final quarter of 2019, rising 30% from a year earlier to $ 2.57 a share, a full 10% above consensus forecasts. Revenue likewise far exceeded expectations, rising 9% on the year to $ 29.21 billion. Analysts polled by Investing.com […]

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Turkey Stocks Trade Near Record in Sign of Renewed Risk Appetite

(Bloomberg) — Turkish stocks continued their rally Monday as a deep discount to emerging-market peers and an improved outlook from the country’s banks enhanced their appeal to investors with a renewed appetite for riskier assets. The Index rose as much as 1.9% to 120,899.69 on Monday, surpassing the benchmark’s record closing high and adding to […]

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