Business

SYDNEY (Reuters) – Asian equities got some much needed relief on Wednesday after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little confidence in emerging market stocks and currencies. FILE PHOTO: A logo of Japan Exchange Group Inc. is seen on a gavel before …

(Reuters) – IBM Corp reported a bigger-than-expected drop in revenue on Tuesday, hit by slowing software sales and wavering demand for mainframe servers, pointing to a bumpy recovery for the technology services giant that is in the midst of a turnaround. FILE PHOTO: A logo of IBM is seen at …

NEW YORK (Reuters) – U.S. stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off. Traders work on the floor of the New York Stock Exchange (NYSE) in …

WASHINGTON (Reuters) – A panel of U.S. regulators is seen as likely to relieve Prudential Financial Inc (PRU.N) from stricter oversight when it meets on Tuesday, in a move that could reduce the insurance company’s regulatory costs. John Strangfeld, Chairman and Chief Executive Officer of Prudential Financial Inc speaks at …

BRUSSELS (Reuters) – U.S. tech giant Google will charge smartphone makers a licensing fee for using its popular Google Play app store and also allow them to use rival versions of its Android mobile operating system to comply with an EU antitrust order. FILE PHOTO: A 3D printed Android mascot …

(Reuters) – When Sears Holdings Corp filed for Chapter 11 bankruptcy on Monday, it said it would close another 142 unprofitable Sears and Kmart locations and seek to reorganize around financially healthier stores. It also triggered a “time bomb” that retailers have had a tough time surviving. A derelict Sears …

(Reuters) – Uber Technologies Inc [UBER.UL] could be valued at $120 billion when it finally goes public next year according to recent proposals made by U.S. banks, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. FILE PHOTO: Uber’s logo is displayed on a mobile phone …

LONDON (Reuters) – Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters. FILE PHOTO: A man talks on the phone …

FRANKFURT (Reuters) – Germany’s carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen (VOWG_p.DE) Chief Executive Herbert Diess said on Tuesday. FILE PHOTO: Herbert Diess, Volkswagen’s new CEO, speaks during …

(Reuters) – Alphabet Inc’s Google on Monday became the latest company to drop out of a business conference in Saudi Arabia. A Google sign is seen during the WAIC (World Artificial Intelligence Conference) in Shanghai, China, September 17, 2018. REUTERS/Aly Song Pressure has mounted on Saudi Arabia since prominent Saudi …