Wireless giant Verizon is reportedly seeking to acquire a major cable company as its rival AT&T's is on verge of buying Time Warner in a $109 billion deal.
According to New York Post, citing two well place sources, the wireless giant expects an acquisition of a cable company to drive demand for its...
Homebuilder confidence in the U.S. saw a modest pullback in the month of January, according to a report released by the National Association of Home Builders on Wednesday. The report said the NAHB/Wells Fargo Housing Market Index dipped to 67 in January after jumping to 69 in December.
Stocks are turning in a lackluster performance in early trading on Wednesday following the weakness seen in the previous session. The major averages are showing only modest moves on the day, holding close to the unchanged line.
Chuck E. Cheese pizza and arcade chain's parent company is planning for an IPO, reported Reuters. The public offering would be probably in the second half of 2017.
According to the report, the chain has initiated discussions with banks, however has not yet hired any underwriters. The offering would help the restaurant chain for a valuation of around $1 billion.
The Federal Aviation Administration said that SkyPan International Inc. will pay a civil penalty of $200,000 for violating federal regulations by flying remote-controlled aircraft in congested airspace over New York and Chicago. This is the largest civil penalty issued by the FAA against a drone operator.
After reporting a drop in U.S. industrial production in the previous month, the Federal Reserve released a report on Wednesday showing that production rebounded strongly in the month of December. The Fed said industrial production climbed by 0.8 percent in December after slumping by a revised 0.7 percent in November.
Consumer prices in the U.S. increased in line with economist estimates in the month of December, according to a report released by the Labor Department on Wednesday. The Labor Department said its consumer price index rose by 0.3 percent in December after edging up by 0.2 percent in November.
After ending the previous session modestly lower, stocks may move back to the upside in early trading on Wednesday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 38 points.
Citigroup Inc. on Wednesday reported a 7 percent increase in profit for the fourth quarter from last year as lower revenues were more than offset by decreases in cost of credit as well as operating expenses. Adjusted earnings for the quarter beat analysts' expectations, while revenues missed their estimates.
Goldman Sachs Group Inc. (GS) reported a profit for the fourth quarter that climbed from the previous year, while quarterly net revenues grew 12 percent. Net revenues in Fixed Income, Currency and Commodities Client Execution increased by 78 percent. Both earnings per share and revenues for the fourth-quarter topped analysts' expectations.
Logan Green and John Zimmer, the co-founders of transportation network company Lyft, have come out with a vision to solve the traffic woes, including congestion-priced roads and carpooling. In a Medium post called "The End of Traffic," they said that companies like Lyft van join with the federal government to start various initiatives aimed encouraging more people to carpool.
U.K. unemployment declined unexpectedly at the end of 2016, while earnings growth accelerated reflecting that the labor market remained strong despite the 'Brexit' vote. Data from the Office for National Statistics showed Wednesday that the number of people claiming unemployment related benefits decreased by 10,100 in December from November, confounding expectations for an increase of 5,000.
Trading in the U.S. index futures suggest that Wall Street stocks may open Wednesday's session higher, ahead of the release of consumer core prices. Federal Reserve Chair Janet Yellen and other Fed executives will be addressing the public today. Asian stocks were broadly higher, while European shares are trading mixed.
Verizon is mulling the acquisition of a big cable company following its rival AT&T's deals with DirecTV and Time Warner, the New York Post reported, citing two well-placed sources. The move is expected to help the firm grow demand for its wireless data products.
Saudi Arabian Oil Co., most popularly known as Saudi Aramco, is yet to finalize a date for its long planned initial public offer, but reports said, citing Saudi Arabian officials, that the IPO most likely would be conducted in the second half of 2018. Saudi Aramco Chief Executive Officer Amin Nasser told Bloomberg that the country has promised to reduce the overall tax rate...