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9,210 results 10/21/2020 19:48
WASHINGTON (Reuters) - U.S. President Donald Trump’s bank account in China raises serious national security concerns, U.S. House of Representatives Speaker Nancy Pelosi said on Wednesday following a New York Times report revealing the previously undisclosed account. Pelosi cited the Chinese government’s ties to its financial industry and said Trump’s banking there risked his exposure and opened him up to vulnerabilities. “They can watch the flow of money there and perhaps have some, shall we say, sway over the person who’s taking money or putting money into that account so it is a national security issue,” she told MSNBC in an interview. The Times, which has obtained Trump’s tax records, late Tuesday reported that the documents show the pre. 10/21/2020 19:24
Image: Interior of a Customs and Border Protection facility, McAllen, Texas, June 17, 2018. Source: Photo provided by U.S. Customs and Border Protection, via SAN DIEGO (AP) — Court-appointed lawyers said Tuesday that they have been unable to find parents of 545 children who were separated at the U.S. border with Mexico early in the Trump administration. The children were separated between July 1, 2017, and June 26, 2018, when a federal judge in San Diego ordered that children in government custody be reunited with their parents. Children from that period are difficult to find because the government had inadequate tracking systems. Volunteers have searched for them and their parents by going door-to-door in Guatemala and Honduras. Mo. 10/21/2020 17:03
By Akanksha Rana and Tina Bellon. (Reuters) - Tesla Inc on Wednesday reported its fifth consecutive quarterly profit on record revenue of $8.8 billion, boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers. The electric car maker also affirmed its target to deliver half a million vehicles by the end of this year, a goal that will require it to significantly ramp up vehicle sales in the fourth quarter. Shares were up 4.3% at $440.81 in extended trade as the carmaker beat analysts’ estimates for third-quarter revenue. Tesla said it had the capacity installed to produce and deliver 500,000 vehicles this year, but added that achieving its goal has become more difficult. “Achieving this targe. 10/21/2020 14:21
Image source: Nasdaq earnings presentation, Oct. 21, 2020. By John McCrank and Niket Nishant. (Reuters) - Nasdaq Inc on Wednesday reported third-quarter profits that topped Wall Street views, helped by strength in the transatlantic exchange operator’s indexing business and a surge in trading volumes. Nasdaq reported an adjusted quarterly profit of $1.53 per share, versus estimates of $1.46 per share, according to IBES data from Refinitiv. Net income rose to $264 million, or $1.58 per share, from $150 million, or 90 cents per share, a year earlier. The profit beat came largely from growth in indexing, Daniel Fannon, an analyst at Jefferies, said in a note. Strong demand for technology stocks during the pandemic has benefited the tech-heavy Na. 10/21/2020 13:18
Image source: Amtrak. By David Shepardson. WASHINGTON (Reuters) - The chief executive of Amtrak will tell lawmakers on Wednesday the U.S. passenger railroad expects travel and revenue to fall by more than 70% from pre-coronavirus levels in 2021, as it considers more service and employee cuts. The railroad projects just 9 million passenger trips and $598 million in revenue for the budget year that began Oct. 1, down from over 32 million trips and $2.35 billion in the 2019 budget year and $1.24 billion in the 2020 budget year that ended Sept. 30, according to testimony from Amtrak chief executive Bill Flynn reviewed by Reuters. Ridership and revenue are still down more than 80% and Flynn will tell the Senate Commerce Committee on Wednesday that. 10/21/2020 11:01
By Silke Koltrowitz. ZURICH (Reuters) - Nestlé raised its guidance for 2020 organic sales growth to around 3% after beating third-quarter expectations on Wednesday with 4.9% growth driven by strong demand for pet food, coffee and health products. Nestlé shrugs off pandemic impact, raises guidance. The world’s biggest food group has weathered the COVID-19 pandemic better than some peers as its focus on high-growth categories helped offset a slump in food sales to restaurants and cafes. In contrast, French peer Danone announced an extensive review this week that could lead to disposals after its like-for-like sales fell 2.5% in the third quarter. Unilever is due to release a trading statement on Thursday. Shares in Nestlé, up 2.5% so far this y. 10/21/2020 10:14
Image source: AutoNation. By Joseph White and Rachit Vats. (Reuters) - U.S. auto dealer AutoNation Inc's quarterly profit nearly doubled on Wednesday as a stronger-than-expected recovery in demand and tight inventories helped drive more profit per vehicle just months after the pandemic slammed the economy. Chief Executive Mike Jackson told Reuters he is optimistic looking ahead. 10/20/2020 23:48
By Zeke Miller, Will Weissert and Jonathan Lemire. ERIE, Pa. (AP) — President Donald Trump pushed into arguably the most important state on the electoral map on Tuesday, opting for a rally in Pennsylvania instead of formal debate practice two days ahead of the final presidential debate that may be his last, best chance to alter the trajectory of the 2020 campaign. Democrat Joe Biden took the opposite approach, holing up for debate prep in the leadup to Thursday’s faceoff in Nashville. 10/20/2020 20:59
Image source: F. Muhammad / Pixabay. By Vishwadha Chander. (Reuters) - Nearly 300,000 more people have died in the United States in 2020 during the coronavirus pandemic than expected based on historical trends, with about two-thirds of the deaths due to COVID-19 illnesses, according to a report released on Tuesday. The report from the U.S. Centers for Disease Control and Prevention (CDC) estimated that 299,028 more people died between Jan. 26 and Oct. 3 than the average numbers from past years would have indicated. The CDC did not provide specific explanations for the excess deaths but said it expects the deaths to include those related directly or indirectly to COVID-19. The agency defines excess deaths as the difference between the observed. 10/20/2020 17:29
Video source: Fox News YouTube channel. By Aamer Madhani and Colleen Long. WASHINGTON (AP) — President Donald Trump on Tuesday called on Attorney General William Barr to immediately launch an investigation of Democrat Joe Biden and his son Hunter, effectively demanding that the Justice Department muddy his political opponent and abandon its historic resistance to getting involved in elections. With just two weeks to go before Election Day, Trump for the first time explicitly called on Barr to investigate the Bidens and even pointed to the nearing Nov. 3 election as reason that Barr should not delay taking action. "We’ve got to get the attorney general to act," Trump said in an interview on "Fox & Friends." 10/20/2020 17:05
By Lisa Richwine and Ayanti Bera. (Reuters) - Netflix Inc on Tuesday reported fewer paid subscribers than Wall Street expected in the third quarter as streaming competition increased and live sports returned to television. The company said it added 2.2 million paid subscribers globally during the quarter that ended Sept. 30 compared with analysts' estimates of 3.4 million, according to IBES data from Refinitiv. Looking ahead, Netflix forecast it would bring in 6 million new subscribers around the globe, short of the 6.51 million that analysts expected. Shares of Netflix, one of the biggest gainers this year as people stayed home amid the pandemic, dropped nearly 6% to $494 in after-hours trading on Tuesday. Netflix had warned investors that 10/20/2020 16:59
Image: Five-day chart, S&P 500 Index. Source: Yahoo Finance. By Alex Veiga and Damian J. Troise. Stocks closed broadly higher Tuesday as Wall Street welcomed a batch of solid earnings reports from U.S. companies. The S&P 500 gained 0.5%, recouping some of its loss from a day earlier. Technology, communication and financial stocks powered most of the gains, while household goods makers fell. Overseas markets closed mixed. Treasury yields held steady. Traders bid up shares in several companies that reported quarterly results that were better than analysts expected, including Procter & Gamble, Regions Financial, Albertsons and Travelers. Others didn’t fare as well. Netflix shares fell in after-hours trading after the streaming service reported t. 10/20/2020 15:15
Image source: Intel. (Reuters) - Intel Corp’s $9 billion sale of its NAND memory chip unit will help the U.S. chip giant focus on its core business in higher-margin processors, Wall Street analysts said on Tuesday, after its deal with South Korea’s SK Hynix Inc. Intel, best known for making computer processors used in desktops and laptops, has been trying to focus more on its strengths, including the Optane memory business, which is smaller but lucrative as it taps more advanced technology. Exiting the NAND chips business will also help the chipmaker fend off the impact on profit from being in a cut-throat commodity memory market, where prices cycle through booms and busts. Cowen and Co analysts said the deal was critical for Intel as it wou. 10/20/2020 13:25
Image source: Logitech. By John Revill. ZURICH (Reuters) - Logitech International shares led Europe's gainers on Tuesday as the computer peripherals maker reported a big jump in second-quarter profit and again hiked its guidance amid a work-from-home boom. Its stock gained 15.8% in Switzerland today, the highest riser on the STOXX 600 index, and is trading up 16.4% on Nasdaq in early afternoon trading. The maker of keyboards, mice webcams and headsets said it was benefiting from a shift to working from home during the COVID-19 pandemic. It now expects annual sales to increase between 35% and 40% in constant currencies, up from its previous view for a 10% to 13% increase. For the year to the end of March it expects non-GAAP operating income of. 10/20/2020 13:07
Image source: Paul Brennan / Pixabay. By Lucia Mutikani. WASHINGTON (Reuters) - U.S. single-family homebuilding raced to a more than 13-year high in September, cementing the housing market’s status as the star of the economic recovery amid record-low mortgage rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling. The report from the Commerce Department on Tuesday also showed building permits and housing completions scaling levels last seen in 2007. 10/20/2020 11:50
Image: CEO Steven Mollenkopf. Source: Qualcomm. By Stephen Nellis. (Reuters) - Qualcomm Inc on Tuesday said it will produce chips for 5G telecommunications networking gear, marking the first entry by a major American technology company into a market dominated by European and Chinese firms. San Diego-based Qualcomm is already the largest supplier of chips for mobile phones, including the modem chips that connect handsets to newer 5G wireless data networks capable of faster speeds than LTE networks. But the market for the 5G base stations and other infrastructure purchased by telecommunications carriers has been dominated by players such as Nokia, Ericsson and, before the U.S. government moved to cut off its ability to secure semiconductors, Hu. 10/20/2020 10:27
Image source: Lockheed Martin. By Ankit Ajmera and Mike Stone. (Reuters) - U.S. weapons maker Lockheed Martin reported a better-than-expected third-quarter profit, helped by higher sales in its aeronautics unit which makes the F-35 fighter jet, and raised its full-year earnings forecast. The U.S. defense sector has fared better compared with other industries amid a slump in demand due to the coronavirus pandemic, as the government has continued to purchase weapons while also providing support to defense contractors to pay the salaries of highly skilled workers. Lockheed said deliveries of F-35 jets rose to 31 aircraft in the quarter ended Sept. 27, from 28 a year earlier. Earlier in the year, Lockheed warned of a possible delay in delivery of. 10/20/2020 10:11
Image source: Procter & Gamble. By Siddharth Cavale, Uday Sampath Kumar. (Reuters) - Procter & Gamble Co raised its annual sales and earnings forecasts on Tuesday, as households continued their coronavirus-driven cleaning sprees, pushing quarterly sales of the consumer goods giant's home care products as much as 30% higher. P&G’s shares, already up 14% this year, rose another 2% in early deals after the company released numbers that also showed strong gains in sales across most of its divisions. Net sales of home care products including brands such as Mr Clean rose by double-digits percentage in every region, P&G said, as consumers stocked up on anything they could get their hands on to potentially slow the spread of the virus. Grooming produ. 10/19/2020 21:02
By Rich McKay and Lisa Shumaker. (Reuters) - As Wisconsin battled one of the worst coronavirus surges in the United States, a judge on Monday reinstated an order by the administration of Governor Tony Evers limiting the size of indoor public gatherings at bars, restaurants and other venues. The Democratic governor’s emergency directive to stem new COVID-19 infections in the state put a 25% capacity limit on the number of people who may gather indoors until Nov. 6.

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