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Bengaluru Editing Business President Donald Trump Sruthi Shankar 

Wall Street opens little changed

August 18, 2017 (Reuters) – U.S. stocks opened little changed on Friday, a day after the S&P posted its biggest one-day percentage loss in about three months amid concerns over President Donald Trump’s ability to legislate his pro-growth agenda. The Dow Jones Industrial Average fell 12.56 points, or 0.06 percent, to 21,738.17. The S&P 500 lost 2.29 points, or 0.09 percent, to 2,427.72. The Nasdaq Composite dropped 0.12 points, or -0 percent, to 6,221.79. (Reporting by Tanya Agrawal; Editing by Anil D’Silva) Powered by WPeMatico

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Bengaluru Editing Business Federal Reserve Sruthi Shankar 

Wall Street pares losses after Cohn resignation rumor knock-down

August 17, 2017 NEW YORK (Reuters) – U.S. stocks pared losses in choppy, late-morning trading Thursday as rumors circulating that Gary Cohn is resigning as director of the National Economic Council were called “100 (percent) false” by an Axios reporter on Twitter. Stocks tumbled earlier and volume spiked as speculation over Cohn circulated, strategists said. The Dow Jones Industrial Average fell 123.7 points, or 0.56 percent, to 21,901.17, the S&P 500 lost 15.55 points, or 0.63 percent, to 2,452.56 and the Nasdaq Composite dropped 54.30 points, or 0.86 percent, to…

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Bengaluru Editing Business Laharee Chatterjee security 

Cisco’s security business revenue misses estimates, shares drop

August 17, 2017 By Laharee Chatterjee and Salvador Rodriguez (Reuters) – Cisco Systems Inc’s quarterly revenue in its closely-watched security business missed analysts’ estimates, raising concerns about the world’s largest networking gear maker’s efforts to transform into a software-focused company. The company’s shares fell about 2.5 percent in after-hours trading on Wednesday. With its traditional business of making switches and routers struggling, Cisco, like other legacy technology firms, has been focusing on high-growth areas such as security, the Internet of Things and cloud computing. The security business, which offers firewall…

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Bengaluru Editing Business Federal Reserve July offer Sruthi Shankar 

Wall Street rises as consumer stocks gain; Fed minutes eyed

August 16, 2017 By Sruthi Shankar (Reuters) – The S&P and the Dow rose higher in late morning trading on Wednesday on gains from consumer discretionary stocks, with investors awaiting the minutes on the latest Federal Reserve meeting. Home Depot’s shares rose 1.7 percent and provided the biggest boost to the S&P and the Dow, after a slump on Tuesday following the company’s earnings. Target rose as much as 3.9 percent, leading the gainers on the S&P consumer discretionary index ,after the company’s quarterly profit and same-store sales that beat…

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Bengaluru Editing industry Ismail Shakil Tech Top News 

Nvidia shares fall on data center revenue but chips ride cryptocurrency boom

August 11, 2017 By Ismail Shakil (Reuters) – Nvidia Corp’s quarterly revenue in its widely watched data center and automotive businesses missed estimates, dragging down the chipmaker’s shares that have nearly tripled in value over the past 12 months. Nvidia shares were down 6.6 percent at $153.87 in extended trading on Thursday. Shares have risen 181 percent over the past year, the strongest performance across the benchmark S&P 500 index. Nvidia came to prominence in the gaming industry for designing graphics-processing chips, but in recent years has been expanding into…

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Aishwarya Venugopal Bengaluru Editing Business ESPN Netflix Inc 

Disney to pull new movies from Netflix, plans own streaming service

August 8, 2017 By Lisa Richwine and Aishwarya Venugopal (Reuters) – Walt Disney Co will stop providing new movies to Netflix Inc starting in 2019 and launch its own streaming service as the world’s biggest entertainment company tries to capture digital viewers who are ditching traditional television. Disney’s defection, announced alongside its quarterly results on Tuesday, is a calculated gamble that the company can generate more profit in the long run from its own subscription rather than renting out its movies to services like Netflix. In turn, Netflix and rivals…

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Bengaluru Editing Business Narottam Medhora U.S. Uber 

Uber considering sale of U.S. car-leasing business: source

August 8, 2017 By Parikshit Mishra (Reuters) – Ride-hailing company Uber [UBER.UL] is evaluating options for its capital-intensive U.S. car-leasing business, including a sale of the unit, a source familiar with the matter said. The Xchange Leasing business, which has about 40,000 vehicles and 14 showrooms in the United States, has attracted interest from some buyers who are considering buying it outright, according to the source. Other options include a partnership or winding down the unit by reducing its presence in a number of cities that may lead to lay…

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Bengaluru Editing Business Time Inc 

Time Inc misses revenue estimates as advertising sales slip

August 8, 2017 (Reuters) – Time Inc , the publisher of Fortune, People and Time magazines, reported a lower-than-expected quarterly revenue on Tuesday, hurt by declines in magazine sales and advertising revenue. Circulation revenue, which accounts for nearly 30 percent of Time’s total revenue, fell 12.3 percent to $207 million in the second quarter ended June 30. Advertising revenue also dipped about 12 percent to $374 million, driven by declines in both print and digital advertising. New York-based Time has struggled to boost magazine subscriptions and advertising revenue as more…

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American Medical Response Bengaluru Editing Business KKR 

Envision to sell ambulance business to KKR in $2.4 billion deal

August 8, 2017 (Reuters) – Envision Healthcare Corp said on Tuesday it would sell its ambulance business to buyout firm KKR & Co in an all-cash deal valued at $2.4 billion as it sharpens its focus on its core businesses. The merger with American Medical Response (AMR), the largest U.S. provider of ambulance services, would allow KKR’s Air Medical Group to easily substitute costly helicopter flights with ambulances for shorter trips. The combined company is expected to transport more than five million patients per year through a fleet of air…

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Bengaluru Editing Diptendu Lahiri Money Top News 

LendingClub shares rise 8 percent on positive outlook, higher revenue

August 8, 2017 By Anna Irrera and Diptendu Lahiri (Reuters) – Online lender LendingClub Corp raised its earnings outlook on Monday after reporting the second-highest quarterly revenue in its history and a drop in costs, sending shares up nearly 8 percent. Net revenue rose 35 percent to $139.6 million in the three months ending in June, beating analysts’ average estimate of $136.4 million, according to Thomson Reuters I/B/E/S. LendingClub now expects full-year total net revenue to be in the range of $585 million to $600 million, compared with its earlier…

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