Business News

  • U.S. court voids $655 million verdict against PLO over Israel attacks

    By Jonathan Stempel NEW YORK (Reuters) - A U.S. appeals court on Wednesday threw out a $655.5 million verdict against the Palestinian Authority and the Palestine Liberation Organization for damages suffered by American families from terrorist attacks in Israel. By a 3-0 vote, the 2nd U.S. Circuit…

    Reuters
  • Wells Fargo: Buy Now…Or Forever Hold Your Peace

    KBW's Brian Kleinhanzl and Michael Brown explain why they think investors should be buying shares of Wells Fargo (WFC) "while the opportunity still presents itself": As part of KBW’s ongoing August Opportunity series, we are highlighting Outperform-rated Wells Fargo as an investment that we believe…

    Barrons
  • UK cosmetics group Lush relocates staff to Germany post-Brexit

    UK cosmetics maker and retailer Lush is relocating European staff from Britain to Germany and has expanded production at its German factory in the wake of Britain's vote to leave the European Union, it said on Wednesday. Lush, which makes cosmetics by hand, said uncertainty caused by the June…

    Reuters
  • Australia sues Volkswagen over alleged emissions fraud

    The Australian consumer watchdog on Thursday said it sued the Australian arm of world No. 2 carmaker Volkswagen AG (VOWG_p.DE) for intentionally selling more than 57,000 vehicles with software which lied about levels of toxic emissions. "These allegations involve extraordinary conduct of a serious…

    Reuters
  • Bob Evans posts 1Q profit

    On a per-share basis, the New Albany, Ohio-based company said it had profit of 46 cents. Earnings, adjusted for non-recurring costs, came to 48 cents per share. The restaurant chain posted revenue of $306.3 ...

    Associated Press
  • Play

    Clinton's billionaire meetings

    Who got a seat at Clinton's table? CNBC's Eamon Javers highlights Hillary Clinton's personal schedule.

    CNBC Videos
  • Cooperman on CNBC says U.S. equities 'fairly but fully valued'

    Cooperman said it is "hard to find things that are terribly mispriced," given central banks' loose monetary policies have elevated asset prices across the board. After the S&P 500's run-up to around 2,165, the index is currently trading at 17 times Cooperman's estimate, he said. "Market is fairly…

    Reuters
  • The Latest: Judge closes hearing in church shooting case

    CHARLESTON, S.C. (AP) — The Latest on objections made to closing a hearing in South Carolina church shootings trial (all times local):

    Associated Press
  • Struggling Iron Range company on verge of shutting down

    An Iron Range company that mines leftover mine waste and turns it into iron ore concentrate is on the verge of shutting down unless it's rescued by outside investors. A federal judge approved a bankruptcy ...

    Associated Press
  • After Apple, EU may focus on companies closer to home

    Multinational companies can expect the European Commission to press on with a crack down on sweetheart tax deals after handing Apple a breathtaking demand for 13 billion euros, officials and experts said on Wednesday. The order to the iPhone maker to pay back taxes to Ireland on the grounds that…

    Reuters
  • Play

    Market pointing to rate hike?

    With banks and the dollar surging for the third straight day, and other rate-sensitive moves in the market, is a September rate hike coming? The "Fast Money" traders discuss.

    CNBC Videos
  • RBL Bank surges on market debut after $182 million IPO

    By Devidutta Tripathy and Tanvi Mehta MUMBAI/BANGALORE (Reuters) - RBL Bank Ltd stock gained as much as 35.8 percent on its market debut on Wednesday, the first listing by an Indian bank in six years, ...

    Reuters
  • Tesla plans to raise funds this year to tackle cash crunch

    The electric carmaker plans to raise money through an equity or debt offering, it said in a filing with the U.S. Securities and Exchange Commission. Some of that money could also support Tesla's planned acquisition of its money-losing sister company, SolarCity Corp. Tesla Chief Executive Officer…

    Reuters
  • Salesforce third-quarter revenue forecast misses, shares fall

    For the third quarter, Salesforce said it expected an adjusted profit of 20-21 cents per share and revenue of $2.11 billion-$2.12 billion. Analysts on average were expecting an adjusted profit of 24 cents per share on revenue of $2.13 billion, according to Thomson Reuters I/B/E/S. Jefferies…

    Reuters
  • China's big banks set for hard slog as margins shrink

    SHANGHAI/BEIJING (Reuters) - Four of China's so-called 'Big Five' state-owned banks have warned that profits will continue to be pressured in the second half of the year, as slowing growth in the world's second-biggest economy hits borrowers and saps lenders' margins. Industrial and Commercial Bank…

    Reuters
  • Chipotle Faces Class Action Lawsuit over Unpaid Wages

    Per a recent CNNMoney report, fast-casual chain operator Chipotle Mexican Grill, Inc. (CMG) is in trouble again as nearly 10,000 of its workers have joined a class-action lawsuit against the company for wage theft

    Zacks
  • Samsung's Galaxy Note 7 shipments delayed due to quality testing

    By Se Young Lee SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd said on Wednesday shipments of the Galaxy Note 7 smartphone are being delayed as the firm conducts additional quality control testing for the premium device. "Shipments of the Galaxy Note 7 are being delayed due to additional…

    Reuters