Fed Chairman Powell testifies before Congress — live video and blog

Federal Reserve Chairman Jerome Powell on Tuesday will testify before the Senate Banking Committee on the central bank’s monetary policy report to Congress. Watch the hearing as MarketWatch live-blogs the action. Key tickers: DJIA, -0.10% | SPX, +0.05% | COMP, +0.05% | DXY, +0.28% | TMUBMUSD02Y, +0.48%  Related: Powell says the ‘best path’ is continued, gradual interest-rate hikes Source: Read Full Article

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Goldman Sachs Q2 Results Beat Estimates

Goldman Sachs Group, Inc. (GS) on Tuesday reported a 44 percent surge in profit for the second quarter from last year, reflecting higher revenues across all segments. The company noted that revenues were the highest second-quarter revenue in nine years. Both revenue and earnings per share for the quarter beat analysts’ expectations. For the second quarter, net earnings applicable to […]

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Funds cut global equity holdings, cite trade war risk: BAML poll

LONDON (Reuters) – Fund managers have cut equity allocations to the lowest level since November 2016, with 60 percent of investors seeing a trade war as the biggest risk for markets, Bank of America Merrill Lynch’s (BAML) latest monthly poll showed on Tuesday. The bank’s July 6-12 survey of funds managing $663 billion worldwide showed a 14 percentage point cut […]

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UK PM May’s spokesman says Trump’s meeting with Putin does not…

LONDON (Reuters) – A spokesman for British Prime Minister Theresa May said the outcome of President Donald Trump’s meeting with his Russian counterpart Vladimir Putin in Helsinki on Monday does not undermine the strength of the transatlantic alliance. FILE PHOTO: Russia’s President Vladimir Putin gestures during a joint news conference with U.S. President Donald Trump after their meeting in Helsinki, […]

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Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’

Bank of America Merrill Lynch believes Netflix will return to beating subscriber expectations because of the company’s history. On Monday Netflix reported its second-quarter financial results. The company added 5.15 million memberships during the quarter missing the Wall Street consensus of 6.34 million. Several Wall Street firms are downplaying Netflix’s big subscriber miss, remaining optimistic over the company’s attractive long-term […]

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Unitedhealth Group, Inc. Q2 adjusted earnings Beat Estimates

Unitedhealth Group, Inc. (UNH) revealed earnings for its second quarter that climbed from the same period last year. The company’s profit totaled $2.92 billion, or $2.98 per share. This compares with $2.28 billion, or $2.32 per share, in last year’s second quarter. Excluding items, Unitedhealth Group, Inc. reported adjusted earnings of $3.09 billion or $3.14 per share for the period. […]

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BAE says aim is for international partners to join UK fighter…

FARNBOROUGH, England (Reuters) – The chief executive of BAE Systems (BAES.L) said the aim was to bring in international partners to help develop Britain’s new fighter jet by the end of 2019. FILE PHOTO: A sign adorns a hangar at the BAE Systems facility at Salmesbury, near Preston, northern England March 10, 2016. REUTERS/Phil NobleBAE showed off a model of […]

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Evonik Prelim. Q2 Adj. Earnings Above Market View; Raises FY Forecast

Evonik Industries AG (EVK.DE) reported an adjusted EBITDA of 742 million euros in its second-quarter compared to 640 million euros, prior year. Adjusted net income was 354 million euros and earnings per share was 0.76 euros. The company noted that its second-quarter adjusted EBITDA and adjusted earnings per share are significantly above current market expectations. Based on preliminary figures, second-quarter […]

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Aurelius Equity Opportunities makes board changes

(Reuters) – Aurelius Equity Opportunities SE & Co KGaA (AR4G.DE), a mid-market investor, said it has appointed Matthias Taubl to its board with responsibility for operations at the same time. Taubl has spent a decade at the company and in the new role, he will be responsible for the realignment of portfolio companies. The company also said Donatus Albrecht will […]

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More pain for savers as NS&I slashes ISA rates for thousands of people

A Government bank have delivered more pain for hundreds of thousands of savers by slashing rates on one of their top-selling products. National Savings & Investments yesterday confirmed they would reduce the interest on their Direct ISA from one per cent to 0.75 per cent from September 24. It comes months after they cut the amount people could put into […]

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