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Friday, July 28, 2017

Amazon everywhere: E-commerce titan is topic companies can't avoid

NEW YORK (Reuters) - What looms over businesses as far flung as car repair, lab equipment and swimming pool gear? In a word, Amazon.

Exclusive: Wells Fargo planned to eventually tell public about auto insurance problems - executive

NEW YORK (Reuters) - Wells Fargo & Co began examining the way its auto lending unit enrolled borrowers into insurance policies a year ago, but did not plan to disclose problems it uncovered until it was ready to issue reimbursements to affected customers, its head of consumer lending told Reuters on Friday.

Exclusive: Congress asks U.S. agencies for Kaspersky Lab cyber documents

LAS VEGAS (Reuters) - A U.S. congressional panel this week asked 22 government agencies to share documents on Moscow-based cyber firm Kaspersky Lab, saying its products could be used to carry out "nefarious activities against the United States," according to letters seen by Reuters.

S&P 500 dented by earnings; Dow hits record high

(Reuters) - The S&P 500 slipped on Friday on negative reactions to earnings reports from high-profile names such as Amazon, Exxon and Starbucks and a drop in shares of tobacco companies.

Tesla climbs as Musk prepares to hand over first Model 3 cars

SAN FRANCISCO (Reuters) - Shares of Tesla Inc rose nearly 1 percent on Friday ahead of a handover to customers of its first Model 3 sedans, the electric cars that Chief Executive Officer Elon Musk is betting will propel his company into the mass market.

U.S. economy speeds up in second quarter, wages continue to lag

WASHINGTON (Reuters) - The U.S. economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, but persistent sluggish wage gains cast a dark shadow over the growth outlook.

Google, Facebook show power of ad duopoly as rivals stumble

SAN FRANCISCO (Reuters) - Quarterly results from Alphabet Inc and Facebook Inc provided fresh evidence this week that the digital advertising market is effectively a duopoly, a dynamic with deep implications for two of Silicon Valley's titans.

Exxon Mobil profit disappoints Wall Street, Chevron shines

HOUSTON (Reuters) - Exxon Mobil Corp posted a rare earnings miss on Friday, the only international oil producer to do so last quarter, as production slipped in its African and Canadian operations.

Senator Warren calls on Fed to remove Wells Fargo board members

WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren called on Federal Reserve Chair Janet Yellen to remove members of Wells Fargo & Co's board after revelations the company improperly charged customers for auto insurance.

Banks must face interest rate swap class action: U.S. judge

NEW YORK (Reuters) - A U.S. judge on Friday said investors may pursue part of their nationwide antitrust lawsuit accusing 12 of the world's biggest banks of conspiring to rig the $275 trillion market for interest rate swaps.