Reforms in the New York budget have made that state a better place for business, according to Tax Foundation analysis. Which state came in last?» Read More
NEW YORK— Wal-Mart Stores Inc. is introducing a new money transfer service that it says will cut fees for customers by up to 50 percent compared with similar services. The service, which will be available April 24, allows its customers to transfer up to $900 to and from more than 4,000 Wal-Mart stores in the U.S.
*Morgan Stanley says "strong performance" bolstered FICC. LONDON/ NEW YORK, April 17- Goldman Sachs and Morgan Stanley both cited stronger commodities trading as a bright spot in the first quarter, fueled at least in part by extraordinary volatility amid the coldest U.S. winter in three decades.
NEW YORK— Barnes& Noble's founder and largest shareholder Leonard Riggio sold 3.7 million shares in the bookseller, his second such move in five months. Shares of Barnes& Noble fell 4 percent in premarket trading.
NEW YORK, April 17- U.S. Initial claims for state unemployment benefits ticked up 2,000 to a seasonally adjusted 304,000 for the week ended April 12, the Labor Department said on Thursday. "There is follow-through from yesterday, there was significant selling in the middle of the curve," said Tom Tucci, head of Treasuries trading at CIBC in New York.
*Inflow of $5.8 bln so far after 2013 outflow. LONDON, April 17- Money is flowing back into commodity investments this year as the sector has broken out of lock-step with other asset classes and outperformed them, attracting investors who aim to diversify portfolios.
NEW YORK, April 17- BlackRock Inc, the world's largest money manager, said on Thursday its first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money into long-term funds.
NEW YORK— Target is vastly expanding the goods available to order by subscription as it fends off its biggest non-traditional retail rival, Amazon.com. Target, based in Minneapolis, is playing catch up in the subscription business, which has exploded as companies test consumer appetites for almost every niche, from socks and razors, to sex toys.
April 17- Goldman Sachs Group Inc reported an 11 percent drop in first-quarter profit on Thursday as client activity remained constrained and fixed-income revenue shrank. The Wall Street bank said its net income fell to $1.95 billion, or $4.02 per share, in the first three months of the year from $2.19 billion, or $4.29 per share, in the same period of 2013..
NEW YORK— Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well. EARNINGS AND REVENUE: The bank earned $1.95 billion in the quarter, down 11 percent from $2.19 billion in the same period a year earlier.
April 17- Goldman Sachs Group Inc reported an 11 percent drop in first-quarter profit as client activity remained constrained and fixed-income revenue shrank. The Wall Street bank said on Thursday its net income fell to $1.95 billion, or $4.02 per share, in the first three months of the year from $2.19 billion, or $4.29 per share, in the same period of 2013..
RICHMOND, Virginia— Philip Morris International's first-quarter profit dropped nearly 12 percent as cigarette sales fell in the overseas markets that it serves and it was hurt by foreign exchange rates for the U.S. dollar.
NEW YORK— Investment bank Morgan Stanley said Thursday that its first-quarter income rose 18 percent from a year ago, helped by higher earnings in its trading and merger and acquisitions advisory businesses. THE RESULTS: Morgan Stanley earned $1.39 billion, up from $1.18 billion in the same period a year ago.
April 17- Bain Capital LLC has raised $7.3 billion from investors and its dealmakers for its next flagship fund, people familiar with the matter said on Thursday, underscoring the favorable fundraising environment for established private equity firms.
NEW YORK— PepsiCo reported a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world.
NEW YORK— General Electric posted lower first-quarter net income than a year ago because last year's results included the sale of NBC Universal. GE said Thursday that it earned $3 billion on revenue of $34.18 billion in the year's first three months, down from $3.5 billion on revenue of $34.94 billion during the same period last year.
*ROE in 2013 was 6.6 percent across top European quoted banks. *Bank ROE level about 40 pct of wider market returns. LONDON, April 17- Europe's largest banks are generating a poor return on their capital, well below their post-crisis targets, as muted credit growth slows their recovery and progress on costs is swallowed by unexpectedly high loan losses.
The price of oil remained near $104 a barrel Thursday as investors weighed the upheaval in Ukraine against a big increase in U.S. oil supplies. Tensions remained over Ukraine, where pro-Russian militants clashed with Ukrainian forces in the country's east as authorities tried to reassert control over a region where some are pushing to secede and join Russia.
Between March 2013 and March 2014, more than 50 complaints about e-cigarettes were filed with the U.S. Food and Drug Administration, according to data obtained through a public records request.
SYDNEY, April 17- The adage "safe as houses" has been an oxymoron since the global financial crisis. A tiny 15 sq metre studio apartment in inner Sydney recently went for A $220,000, or A $14,666 per sq metre- not far off Manhattan heights.
April 16- Bank of America Corp's financial crisis hangover is lasting longer than expected, leading some investors to wonder if the massive litigation expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time items.