Bank Of America Q2 Profit Surges; Revenue Up 3% Excl. Prior Year Gain

Bank of America Corp. (BAC) reported that its second-quarter earnings per share was up 43% year-over-year to $0.63. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.57 for the quarter. Analysts’ estimates typically exclude special items. Net income to shareholders increased to $6.5 billion from $4.8 billion, driven by improved operating […]

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Iran Warns Trump Not to Threaten Country’s Oil Exports

Iran’s president warned his U.S. counterpart Donald Trump not to threaten the Persian Gulf nation’s oil exports and called for improved relations with its neighbors, including arch-rival Saudi Arabia. Trump is reimposing sanctions on Iran, which ships most of its oil through the Strait of Hormuz, in an effort to squelch the country’s oil sales. Hormuz, a shipping chokepoint at […]

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It's not easy selling a property in London’s sluggish market

U.K. property portal Rightmove said last week that average asking prices in London, across all property types, are down 1.7 percent (or £11,040) in July, compared to a year ago. Good news for first-time buyers looking at properties with two bedrooms or fewer though, the “lower market sector” saw the largest percentage drop in the last 12 months Selling a […]

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China Growth Slows In Q2 Amid Debt Crackdown, Trade Tensions

China’s economic growth slowed in the second quarter, as the government’s efforts to rein in debt damped activity, while production slowed adding fuel to concerns over an escalating trade war with the US. Gross domestic product expanded 6.7 percent year-on-year in the three months to June after growing 6.8 percent in the first quarter, data from the National Bureau of […]

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Trade war sparking an ‘absurd and ridiculous’ price for safety stocks, $3b money manager warns 

A popular protection strategy against the U.S.-China trade dispute may soon collapse. Mayflower Advisors’ Larry Glazer warned recently that a lot of investors are setting themselves up for pain by paying an “absurd and ridiculous premium” for small cap stocks. “Investors are fearful, and they’ve been positioning for the smallest stocks they can get their hands on, and the most […]

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Asian Shares End Mostly Lower After Chinese Data

Asian stocks closed mostly lower on Monday as a raft of Chinese data proved to be a mixed bag and investors awaited Federal Reserve Chairman Jerome Powell’s semi-annual congressional testimony on Tuesday and Wednesday for directional cues. The Japanese market was closed in observance of Marine Day. China’s Shanghai Composite Index shed 17.27 points or 0.6 percent to close at […]

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Abbott Laboratories Q2 adjusted earnings Beat Estimates

Abbott Laboratories (ABT) revealed a profit for its second quarter that rose from last year. The company’s earnings came in at $733 million, or $0.41 per share. This compares with $283 million, or $0.16 per share, in last year’s second quarter. Excluding items, Abbott Laboratories reported adjusted earnings of $1.30 billion or $0.73 per share for the period. Analysts had […]

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50 Strangest Town Names in America (and Where They Came From)

There are no rules for naming towns. Some are christened, reasonably enough, after their founders or early patrons. Others are named for monarchs or political figures, or for saints — for instance, St. Louis and St. Petersburg, Florida. (Such names in the West often take the Spanish form, as in San Francisco or Santa Monica.) Other places have monikers, saintly […]

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