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  • SAN FRANCISCO— Microsoft says it is cutting 2,850 jobs, about 2.5 percent of its workforce, as it further scales back its troubled smartphone business. A spokeswoman says the layoffs will mostly affect workers in the company's smartphone hardware operation and related sales teams. Microsoft Corp. disclosed the planned job cuts in a regulatory filing, which...

  • July 28- Amazon.com Inc posted strong results across its older and newer businesses on Thursday as global Web retail sales and cloud services topped Wall Street targets and the world's largest online merchant forecast revenue would outpace expectations in the current quarter as well. "They crushed estimates," said Michael Pachter, analyst at Wedbush...

  • "They crushed estimates," said Michael Pachter, analyst at Wedbush Securities. The expansion in so many areas requires substantial investment, though, and shares initially dipped in after-hours trade, as the company forecast relatively low operating income for the current quarter of $50 million to $650 million. It earned $857 million in the second quarter, or...

  • SAN FRANCISCO _ Digital Realty Trust Inc. on Thursday reported a key measure of profitability in its second quarter. The average estimate of 12 analysts surveyed by Zacks Investment Research was for funds from operations of $1.36 per share. Digital Realty Trust expects full-year funds from operations in the range of $5.65 to $5.75 per share.

  • SAN FRANCISCO— In a story July 27 about Dolby Laboratories Inc.' s earnings, The Associated Press reported that Dolby is a maker of audio equipment.

  • SAN FRANCISCO— Business is booming at Google's parent company, Alphabet Inc., even as it loses billions of dollars on kooky-sounding projects that may never produce any revenue. Huge chunks of the losses have been piling up in Alphabet's "X'' lab, a wellspring of far-out ideas that has become known as a" moonshot factory "since Google co-founder Sergey Brin launched...

  • BOSTON, July 28- Activist hedge fund Marcato Capital Management announced its second big investment in a week on Thursday, saying it snapped up a 5.1 percent stake in crane and heavy equipment manufacturer Terex Corp.. Hepler specialized in industrials while working for famed activist investor Ralph Whitworth's Relational Investors.

  • SAN FRANCISCO— Pacific Gas& Electric Co. on Thursday reported second-quarter profit of $210 million. PG&E expects full-year earnings in the range of $3.65 to $3.85 per share. PG&E shares have risen 20 percent since the beginning of the year, while the Standard& Poor's 500 index has risen 6 percent.

  • July 28- California's power grid operator extended its call for consumers to conserve electricity into Thursday as a heat wave continued to bake the state, especially the inland cities. The ISO forecast that demand would reach 46,888 megawatts on Thursday and 46,274 MW on Friday as some inland cities like Sacramento and Fresno top out at around 110 degrees...

  • BEIJING— China's Cabinet issued its first rules for ride-hailing and told local officials Thursday to promote the booming industry, confirming the legal status of Uber Technologies Inc. and local competitors following run-ins with regulators. China is one of a series of markets where Uber and competitors have grown fast but faced legal challenges to their...

  • SAN FRANCISCO _ JMP Group Inc. on Wednesday reported a loss of $327,000 in its second quarter. The San Francisco- based company said it had a loss of 2 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • SAN FRANCISCO— Facebook is once again getting pushy about how people message one another. Two years ago, the social-media giant forced its users to adopt its Messenger app for direct communication, a change it enforced by deactivating messages in the main Facebook app and steering users to the app. There was an uproar; some users thought Messenger violated their...

  • July 27- Facebook Inc provided more evidence on Wednesday that it can turn eyeballs into profit as the maker of the world's most popular app and social website trounced Wall Street's estimates, sending its shares to an all-time high. "Facebook has shown that you can be a giant and you can be innovative," said analyst Patrick Moorhead of Moor Insights& Strategy.

  • July 27- The world's most popular website and phone app provided more evidence on Wednesday that it is getting better at turning eyeballs into profits as Facebook Inc trounced Wall Street's estimates, sending its shares to an all-time high. "Facebook has shown that you can be a giant and you can be innovative," said analyst Patrick Moorhead of Moor Insights&...

  • Treasury on Wednesday expanded its hunt for international criminals who launder money through real-estate deals by ordering title insurance companies to report all-cash buyers' identities in parts of California and Texas, as well as greater swaths of New York and Florida. The program to unmask individuals behind shell companies that buy high-end houses...

  • SAN FRANCISCO _ Dolby Laboratories Inc. on Wednesday reported fiscal third-quarter earnings of $63.6 million. Four analysts surveyed by Zacks expected $267.3 million. For the current quarter ending in September, Dolby Laboratories expects its per-share earnings to range from 31 cents to 37 cents.

  • SAN FRANCISCO _ McKesson Corp. on Wednesday reported fiscal first-quarter earnings of $542 million. McKesson expects full-year earnings in the range of $13.43 to $13.93 per share. McKesson shares have decreased slightly since the beginning of the year, while the Standard& Poor's 500 index has risen 6 percent.

  • Treasury on Wednesday said it was expanding the scope of its program targeting money laundering through real estate purchases to include all New York City's boroughs, Florida's Broward and Palm Beach counties, and Los Angeles, San Francisco, and San Diego in California, as well as San Antonio in Texas.

  • NEW YORK, July 27- The Federal Reserve has bowed to political risks once already this year, deferring a possible interest rate hike in part due to Britain's European Union vote, and it may do so again as November's U.S. presidential election looms. While both Republicans and Democrats have criticized the Fed, Donald Trump's policies are likely to be more...

  • SAN FRANCISCO _ Terreno Realty Corp. on Wednesday reported a key measure of profitability in its second quarter. The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 25 cents per share. Five analysts surveyed by Zacks expected $26.1 million.