General Electric on Monday revealed the names of the three companies that will operate on their own after the historic split of the one-time conglomerate, including a mashup of words that will make up the name of the new energy company. GE announced in November that it planned to split into three companies focused on…
SEOUL, South Korea (AP) — Treasury Secretary Janet Yellen said Tuesday the U.S. and South Korea should deepen their trade ties to avoid letting other countries use their market positions to unfair advantage — calling out China by name. “We cannot allow countries like China to use their market position in key raw materials, technologies,…
NEW YORK (AP) — Investment banking giant Goldman Sachs saw its second-quarter profits fall nearly half from a year ago, as turmoil in the financial markets and warnings of a possible recession caused the bank’s deal-making business to slow down considerably. The New York-based bank said Monday that it earned a profit of $2.77 billion,…
BERLIN (Reuters) – Volkswagen-owned Porsche will be able to go into more detail in coming weeks on what its agreement with Volkswagen for the structure of a partial listing will look like, Chief Executive Oliver Blume said on Monday. “We are in progress to work on an industrial cooperation agreement with Volkswagen Group. In the…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) – U.S. stock indexes rose on Monday after Goldman Sachs beat profit expectations, extending last week’s positive momentum amid easing bets of a super-sized interest-rate hike by the Federal Reserve. The Dow rose over 200 points in early trading, picking up from Friday when U.S. economic data…
BERLIN (AP) — The German government said Monday that a turbine at the center of uncertainty about future gas deliveries through a major pipeline from Russia to Europe was only supposed to be installed in September, underlining its insistence that there should be no technical obstacle to the gas flow. Meanwhile, Germany’s biggest importer of…
Delta is ordering 100 737 Max 10 airplanes, the largest of the line produced by Boeing, potentially giving the manufacturer additional momentum after a troubled rollout of its most advanced aircraft. Delta has an option to purchase 30 more of the aircraft as the airline looks to keep up with surging travel demand. Boeing has…
(Reuters) – Snap Inc said on Monday it is introducing the web version of its photo messaging app Snapchat, allowing users to chat, snap and video call from their computers. The company said that the feature will be exclusive to Snapchat+ subscribers beginning July 18 and will start with subscribers in the United States, the…
By Noor Zainab Hussain and Saeed Azhar (Reuters) -Goldman Sachs Group Inc on Monday reported a smaller-than-expected 48% slump in second-quarter profit, buffered by the strength in its fixed-income trading as investors realigned their bets amid market volatility. It shares rose 3.7% as revenue at the global markets unit, which houses Goldman’s trading desks, jumped…
KYIV, Ukraine (AP) — As Russia kept up its relentless shelling across the country, Ukrainian President Volodymyr Zelenskyy expanded the shakeup of his security services on Monday by suspending 28 more officials, a day after he dismissed two senior officials over allegations that their agencies harbored “collaborators and traitors.” In his nightly video address, Zelenskyy…
