Business

Citigroup settles U.S. charges of bad controls that led it to lose millions: SEC

37 mins ago DieselGasoil Comments Off on Citigroup settles U.S. charges of bad controls that led it to lose millions: SEC
WASHINGTON (Reuters) – Citigroup has agreed to pay $10.5 million to settle charges related to bad loans made by its Mexican subsidiary, Banamex, between 2008 and 2014, and to trader mismarking and unauthorized proprietary trading by Citigroup Global Markets Inc. from 2013 to 2016, the Securities and Exchange Commission said on Wednesday. The Citigroup Inc Read More

Russia to open Black Sea ferry line from Crimea to Turkey

37 mins ago DieselGasoil Comments Off on Russia to open Black Sea ferry line from Crimea to Turkey
The Crimean peninsula is ready to launch a ferry service to the Turkish Black Sea coast. “Negotiations with the freight-shipping agents have been carried out. The Crimean ports involved in the Turkey-Crimea-Turkey ferry line will be announced soon,” said CEO of Crimean Sea Ports Aleksey Volkov. The line will be opened this fall, he added. Read More

Tesla on track to make 8,000 Model 3s per week, Evercore says

37 mins ago DieselGasoil Comments Off on Tesla on track to make 8,000 Model 3s per week, Evercore says
(Reuters) – Tesla Inc (TSLA.O) is on its way to make 8,000 Model 3 cars per week even as it burns more cash, Evercore analysts wrote in a note on Thursday, following their visit to the electric-car maker’s California facility. FILE PHOTO: A Tesla sales and service center is shown in Costa Mesa, California, U.S., Read More

Wall St. gains on upbeat earnings, trade talk optimism

2 hours ago DieselGasoil Comments Off on Wall St. gains on upbeat earnings, trade talk optimism
(Reuters) – U.S. stock indexes rose on Thursday, helped by a string of robust earnings reports, a dip in the dollar and after China said it will hold talks with the United States later this month. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 18, 2018. Read More

Walmart's second quarter sales rise most in decade, shares soar

2 hours ago DieselGasoil Comments Off on Walmart's second quarter sales rise most in decade, shares soar
NEW YORK (Reuters) – Walmart Inc (WMT.N) reported quarterly earnings and sales that topped estimates on Thursday, driven by strong grocery sales and a revamped website that boosted online purchases, and the company’s shares soared over 10 percent in early trade. The world’s largest retailer also raised its sales and earnings outlook for the full Read More

J.C. Penney shares dive 25 percent on forecast cut, weak results

3 hours ago DieselGasoil Comments Off on J.C. Penney shares dive 25 percent on forecast cut, weak results
(Reuters) – Shares of U.S. retail chain J.C. Penney Co Inc (JCP.N) sank below $2 for the first time on Thursday after it forecast a wider-than-expected full-year loss and posted disappointing results on the back of price cuts across product lines. FILE PHOTO: A shopper checks on merchandise at the J.C. Penney department store in Read More

J.C. Penney same-store sales miss estimates, shares tumble

4 hours ago DieselGasoil Comments Off on J.C. Penney same-store sales miss estimates, shares tumble
(Reuters) – J.C. Penney Co Inc (JCP.N) on Thursday reported sales at established stores below analysts’ estimates as the department store chain discounted heavily to clear inventory, sending its shares down 15 percent. FILE PHOTO: A shopper checks on merchandise at the J.C. Penney department store in North Riverside, Illinois, U.S., November 17, 2017. REUTERS/Kamil Read More

Kroger begins tests of driverless grocery delivery in Arizona

4 hours ago DieselGasoil Comments Off on Kroger begins tests of driverless grocery delivery in Arizona
(Reuters) – U.S. supermarket operator Kroger Co (KR.N) said it will start testing driverless grocery delivery on Thursday with technology partner Nuro at a single Fry’s Food Store in Scottsdale, Arizona. Nuro’s R1 driverless delivery van is seen packed with bags from Kroger’s Fry’s Food Stores, which will begin a test of the vehicle in Read More

Walmart's second-quarter comparable sales rise most in a decade, shares soar

4 hours ago DieselGasoil Comments Off on Walmart's second-quarter comparable sales rise most in a decade, shares soar
NEW YORK (Reuters) – Walmart Inc (WMT.N) on Thursday said its U.S. comparable sales grew the most in a decade and its e-commerce sales grew 40 percent, higher than 33 percent growth in the previous quarter, sending its shares up nearly 11 percent in premarket trade. FILE PHOTO: The logo of Walmart is seen on Read More

Italian motorway operators’ shares plummet after deadly bridge collapse

4 hours ago DieselGasoil Comments Off on Italian motorway operators’ shares plummet after deadly bridge collapse
Italy’s Atlantia and other toll road operators faced a sharp sell-off on Thursday. Atlantia’s Autostrade per l’Italia unit manages the motorway that collapsed in the Italian city of Genoa killing at least 38 people this week. The company failed to start trading on Thursday after falling 20 percent in pre-market trading. Shares in rivals SIAS Read More