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Bank of America Business David Henry results show 

Biggest U.S. banks clear first hurdle in Fed’s annual stress tests

June 22, 2017 By Pete Schroeder and David Henry WASHINGTON/NEW YORK (Reuters) – The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. Although the banks, including household names like JPMorgan Chase & Co and Bank of America Corp , would suffer $383 billion in loan losses in the Fed’s most severe scenario, their level of high-quality capital would be substantially…

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Bengaluru Editing Business results 

Oracle profit beats as cloud shift gains steam, shares at record

June 21, 2017 (Reuters) – Oracle Corp’s quarterly profit blew past Wall Street estimates and the business software maker forecast an upbeat current-quarter earnings, indicating that the company’s transition to cloud is starting to pay off. The company’s shares were up 10.6 percent to a record high of $51.25 in after-market trading on Wednesday. They had gained about 20 percent this year. A late entrant to the cloud market, Oracle has been doubling down on efforts to bolster its cloud-based services as customers increasingly shun the costlier licensing model. As…

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Although Wall Street bank Business change results 

U.S. bank investors hope Fed stress test results lead to big payouts

June 19, 2017 By Pete Schroeder and David Henry (Reuters) – Investors are hoping the Federal Reserve will allow big U.S. banks to put an estimated $150 billion in idle capital toward stock buybacks, dividends and profit-boosting investments in the coming weeks after conducting a regular examination of financial strength. On Thursday, the Fed is scheduled to begin releasing results from its two-part annual stress test, which was adopted in response to the financial crisis, to gauge banks’ ability to weather an economic storm that could threaten the stability of…

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bank Economy election rates results Top News 

Dollar steadies ahead of central bank meetings; C$ hits two-month high

June 13, 2017 By Masayuki Kitano SINGAPORE (Reuters) – The dollar held steady against a basket of currencies on Tuesday, with the focus on the U.S. Federal Reserve’s two-day policy meeting, while the Canadian dollar rose after its central bank hinted interest rates could rise sooner than anticipated. The dollar index , which tracks the greenback against a basket of six major rivals, last traded at 97.245, staying above a seven-month low of 96.511 set last week. The Canadian dollar touched its strongest in about two months at C$1.3287 per…

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Economy election poll results Top News Yukio Ishizuki 

UK election upset pummels pound, other currencies stay calm

June 9, 2017 By Shinichi Saoshiro TOKYO (Reuters) – The pound fell sharply on Friday after British Prime Minister Theresa May’s Conservative Party appeared set to fall short of an expected majority in a general election. Sterling was down 1.5 percent at $1.2764 after sliding to as low as $1.2705 , down about 2 percent and the weakest since April 18. An exit poll predicted the Conservatives would win 314 seats in the 650-member parliament and the opposition Labour Party 266, meaning no clear winner and a “hung parliament”. As…

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Economy Jeremy Corbyn London results security Top News 

FTSE futures, gilt yields fall as odds improve on Corbyn-led government

June 9, 2017 LONDON (Reuters) – London stock exchange futures sank, gilt yields fell and the pound dived below $1.27 for the first time in almost two months on Friday as odds tightened on Labour leader Jeremy Corbyn becoming the next British Prime Minister after UK elections. With trading volumes extremely thin out of London hours, FTSE futures were quoted down 0.2 percent as voting results began to come in, backing projections that showed Prime Minister Theresa May losing her overall majority in parliament. 10-year gilt yields also fell around…

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AOL Business California results Yahoo Inc 

Verizon plans to cut 2,000 jobs at Yahoo, AOL: source

June 8, 2017 By David Shepardson (Reuters) – Verizon Communications Inc is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo Inc’s core assets next week, a person briefed on the matter said. The cuts are expected to come from Verizon’s AOL and Yahoo units and represent about 15 percent of the staff at the two units. About 14,000 people work at AOL and Yahoo. Many of the jobs are in California and some are outside the United States, according to the source, who…

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GM investors reject Greenlight share plan, board slate

June 6, 2017 By Nick Carey and Joseph White DETROIT (Reuters) – General Motors Co shareholders on Tuesday overwhelmingly rejected proposals by hedge fund Greenlight Capital to restructure the company’s stock and reshape its board, backing Chief Executive Mary Barra’s efforts to rev up the company’s stalled share price. Seeing off the challenge from Greenlight manager David Einhorn does not mean the end of Barra’s challenges. GM shares traded on Tuesday at $34.25 a share, about 16 percent lower than when Barra became CEO, despite robust profits and a series…

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Japan Inc sees better opportunities beyond China’s ‘Belt and Road’

May 25, 2017 By Tetsushi Kajimoto TOKYO (Reuters) – A vast majority of Japanese companies have no interest to participate in China’s sweeping “Belt and Road” initiative, seeing greater business opportunities in other international economic co-operation, a Reuters poll shows. Only 5 percent of 220 respondents in the monthly Reuters Corporate Survey said they would participate in the Chinese project, which aims to build infrastructure and trade links between China, central Asia, Europe and beyond. Instead, they thought a free trade agreement (FTA) between Japan and the United States, proceeding…

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Softer dollar may be stock silver lining amid Washington drama

May 20, 2017 By Lewis Krauskopf NEW YORK (Reuters) – With S&P 500 companies set to notch their strongest quarterly earnings growth in about six years, a weaker U.S. dollar may help keep the profit momentum rolling and support share prices in the weeks to come. After a dramatic week in Washington that rattled financial markets, one possible silver lining for stock investors was the weaker dollar, which can support earnings of U.S. multinational companies with large foreign operations. The dollar weakened 0.5 percent against a basket of currencies on…

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