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People walk outside the Nasdaq Market site in New York's Times SquareBy Anna Irrera NEW YORK (Reuters) - Exchange operator Nasdaq Inc plans to set up a venture capital arm to invest in financial technology companies that can help grow its own businesses, two people familiar with the plans told Reuters. The amount Nasdaq would invest could not be learned, though one person described it as "modest" relative to its broader earnings and capital plans. Nasdaq generated $2.3 billion in net revenue last year.
FILE PHOTO - The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange(Reuters) - Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion. Blackstone will pay $4.3 billion upfront and up to an additional $500 million based on future performance. London-headquartered Aon said it expected the deal to improve its return on invested capital and add to adjusted earnings per share in 2018.
The logo of Toshiba Corp is seen behind trees at its headquarters in TokyoBy Makiko Yamazaki and Taro Fuse TOKYO (Reuters) - Toshiba Corp will on Tuesday detail a writedown of close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the Japanese group's efforts to fix that and other balance sheet headaches. Sources familiar with the matter say the final charge, to be detailed alongside quarterly earnings, will be as high as 700 billion yen ($6.2 billion), a sum which alone would wipe out the company's shareholder equity. Toshiba, which has seen its market value almost halve since the prospect of a writedown emerged in December, is also expected to outline the prospects for its nuclear arm and update investors on efforts to raise capital, including through the sale of a stake in its flagship memory chips business.
The logo of Toshiba Corp is seen behind trees at its headquarters in TokyoBy Makiko Yamazaki and Taro Fuse TOKYO (Reuters) - Toshiba Corp will on Tuesday detail a writedown of close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the Japanese group's efforts to fix that and other balance sheet headaches. Sources familiar with the matter say the final charge, to be detailed alongside quarterly earnings, will be as high as 700 billion yen ($6.2 billion), a sum which alone would wipe out the company's shareholder equity. Toshiba, which has seen its market value almost halve since the prospect of a writedown emerged in December, is also expected to outline the prospects for its nuclear arm and update investors on efforts to raise capital, including through the sale of a stake in its flagship memory chips business.
Logo of Toshiba Corp is seen behind a traffic signal at its headquarters in Tokyo(Reuters) - Toshiba Corp will issue on Tuesday its first-ever warning that it may not be able to continue as a going concern, following massive nuclear-related losses, the Nikkei reported. The warning will be included in the earnings announcement for the nine months ended December, the Japanese business daily reported. Toshiba will writedown close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the company's efforts to fix that and other balance sheet headaches. ...
Shares in Toshiba are down 45 percent since December, after an embarrassing accoutning scandalToshiba shares dropped Tuesday morning as a report said the huge conglomerate may warn that its future is in jeopardy owing to huge losses in its nuclear power business. Japan's leading Nikkei business daily said Toshiba would issue the red flag as it reports nine-month earnings later in the day. Toshiba, which declined to comment on the Nikkei report, is to publish its earnings around noon local time (0300 GMT).
A TMX Group sign, the company that runs the Toronto Stock Exchange, is seen in Toronto(Reuters) - TMX Group Ltd , which owns and operates the Toronto Stock Exchange, reported better-than-expected quarterly results as the exchange operator reaped benefits from cost cuts. TMX's adjusted diluted earnings per share was C$1.18 in the fourth quarter ended Dec. 31, above the analysts' average estimate of C$1.12, according to Thomson Reuters I/B/E/S. The dominant Canadian exchange operator has been transforming itself into a leaner business focused on core operations, amid intensifying competition. The company reported about C$13 million ($10 million) in net cost savings on a run rate basis by the end of 2016, exceeding its target of C$8 million to C$10 million per year, Chief Financial Officer John McKenzie said in a statement on Monday.
The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, JapanToshiba Corp has delayed its earnings release, including details of a multi-billion charge related to cost overruns at its U.S. nuclear arm. At midday, when it was slated to release its latest results, business outlook and nuclear charge, the company said in an e-mail instead that it was not yet ready.
The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, JapanBy Makiko Yamazaki TOKYO (Reuters) - Toshiba Corp has unexpectedly delayed the release of its quarterly earnings and details of a multi-billion dollar writedown to its nuclear business, sending its shares sharply lower as investors fret over the conglomerate's future. Toshiba had said it would reveal the charge at noon, along with its latest outlook. Kyodo news agency, citing a financial source, said the delay was due to problems in Toshiba's discussions with auditors.
A cyclist rides past sign showing prices of gas at filling station in San FranciscoU.S. refiners are facing the prospects of weakening gasoline demand for the first time in five years, stoking fears that earnings this year may be even worse than the dismal performances seen in 2016. The sign of weakening U.S. gasoline demand comes as U.S. refiners are in the midst of reporting their worst year of earnings since the U.S. shale boom started in 2011. The oil boom turned to bust in 2014, and U.S. independent refiners reaped the profits as plunging pump prices and a growing economy helped fuel a surge in demand.
LONDON (AP) — Royal Dutch Shell says fourth-quarter earnings rose 14 percent as it made progress on plans to cut costs and sell assets to adjust to an environment of lower oil prices.
FILE PHOTO - A reception staff walks under a logo of Sony Corp at its headquarters in TokyoSony Corp on Thursday said it does not plan to sell its pictures business after suffering a $1 billion writedown, and instead aims to turn it around by adding sales channels and making more use of movie characters. "We believe in long-term upside potential for pictures," Chief Financial Officer Kenichiro Yoshida said at an earnings briefing, reiterating that Sony continues to regard the business as important to the group. The pictures writedown, brought about by a shrinking market for movies on disc, prompted Sony to cut 11 percent off the group's full-year operating profit outlook to 240 billion yen.
A person uses a sensor for biometric identification on a smartphone in BerlinFormer stock market star Fingerprint Cards (FPC) reported earnings below expectations and gave a bleak outlook for the start of the year, dealing further blows to the Swedish biometrics company. FPC said it expected first-quarter revenues to be "materially weaker" than a year ago because of an inventory build-up in the supply chain, a component shortage affecting its customers and growing competition. It stuck to its revenue guidance for the year as a whole but critics questioned whether it could regain lost ground.
FILE - In this Jan 28, 2015 file picture an employee attaches a Mercedes emblem as he assembles a Mercedes-Benz S-class model at the plant in Sindelfingen, Germany. The company will have the annual press conference on Thursday, Feb. 2, 2017. (AP Photo/Matthias Schrader, file)FRANKFURT, Germany (AP) — German automaker Daimler AG said Thursday that its fourth-quarter net profit jumped 18 percent — but offered only a modest outlook for future earnings as it prepares to spend heavily on new models and advanced technologies such as autonomous driving.
Products produced by Reckitt Benckiser; Vanish, Finish, Dettol and Harpic are seen in LondonBest known for its Lysol cleaners, Durex condoms, Nurofen tablets and Scholl footcare products, Reckitt said late on Wednesday it was discussing a $90 per share cash offer, a 29.5 percent premium to Mead's closing price. In London, Reckitt shares were up 4 percent at 7,102 pence, as enthusiasm over the deal's potential to lift profits overshadowed questions around price and strategy for going up against tough rivals Nestle and Danone . "The shares are up because the deal as mooted is likely to be meaningfully EPS (earnings per share) enhancing," said Philip Haworth, investment manager at Kames Capital, which owns Reckitt shares.
By Alastair Sharp TORONTO (Reuters) - BCE Inc , Canada's largest telecommunications company, reported a slightly smaller-than-expected quarterly profit as it paid more to win wireless customers and forecast a 2017 profit below analysts' estimates, sending its shares lower. The Montreal-based company forecast adjusted earnings of C$3.42–C$3.52 per share for the year, lower than analysts' average estimate of C$3.62, according to Thomson Reuters I/B/E/S. The company, popularly known as Bell, said its outlook counted a 7 cent per share weight from regulatory rulings that include forcing it to lower wholesale internet rates it can charge rivals and stopping it from substituting Canadian ads into the broadcasts of U.S. networks during Sunday's Super Bowl.
The logo of Merck is pictured in this illustration photograph in Cardiff, CaliforniaShares of Merck were up nearly 3 percent at $63.90 after the U.S. drugmaker also reported fourth-quarter earnings that matched analysts' expectations. Despite acknowledging a need to hold down costs, Merck said it was charging ahead with Keytruda development, with about 430 studies ongoing in a wide variety of cancers and combinations with other therapies. Merck forecast 2017 earnings of $3.72 to $3.87 per share, excluding special items.
FILE - This Sept. 6, 2012, file photo shows the Amazon logo in Santa Monica, Calif. Amazon.com, Inc. reports financial earnings Thursday, Feb. 2, 2017. (AP Photo/Reed Saxon, File)SEATTLE (AP) — Amazon.com Inc. (AMZN) on Thursday reported fourth-quarter earnings of $749 million.
File photo of an Amgen sign at the company's office in South San FranciscoAmgen Inc on Thursday posted a higher-than-expected fourth-quarter profit, helped by a jump in sales of its Enbrel rheumatoid arthritis drug, but it issued a 2017 sales and earnings forecast range below current Wall Street estimates. The company also announced that its Repatha cholesterol drug reduced the risk of heart attacks, strokes and cardiac death in a huge, long-awaited study of patients with heart disease, sending its shares up nearly 3 percent to $164 in late trade. "It's obviously a positive, but there's a lot more we want to know about the details," Cowen and Co analyst Eric Schmidt said.
View shows Visa credit cards(Reuters) - Visa Inc , the world's largest payments network operator, reported better-than-expected quarterly profit and revenue as more people made payments using its network. The company, whose shares were up 3.4 percent in extended trading on Thursday, also affirmed its full-year profit and revenue forecasts. Visa, like MasterCard Inc and its other peers, has been trying to capture the Chinese market, which is dominated by state-run China UnionPay Co Ltd. Visa remains committed to China in the long-term and plans to formally submit a license application in the country, Alfred Kelly said in his first earnings call since taking over as chief executive from Charles Scharf on Dec. 1.
To match Feature SAFRICA-KUMBA/EMPOWERMENTSouth Africa's Kumba Iron Ore, a unit of Anglo American, will pay 2.5 billion rand ($186 million) to settle a tax dispute with local authorities, the company said on Friday, sending its share price over 7 percent lower. "Kumba had already provided for an amount of 1.5 billion rand in its annual financial statements for the tax years up to 2015, and an additional 1.0 billion rand will be accounted for in 2016 in respect of this settlement agreement," the company said. "The settlement will be paid in full in Q1 2017, with appropriate adjustments made for current advance payments held on account." Kumba, which Anglo American has signalled it may sell as it pivots its focus to platinum, diamonds and copper, said last month it expected 2016 profits to more than double from a dismal 2015, setting it up to outstrip forecasts when it reports earnings on Feb 14.
An opponent of the Dakota Access oil pipeline is seen through concertina wire while snowmobiling toward the protest camp near Cannon BallThe chief executive of Phillips 66 said on Friday he expects the Dakota Access Pipeline to start operations in the second quarter, even though the project - which has sparked protests by Native Americans and environmentalists - is still in the midst of legal battles and a U.S. regulatory review. Phillips 66 has a 25 percent stake in the $3.8 billion project led by Energy Transfer Partners LP . Phillips 66's CEO, Greg Garland, made the comments on a conference call with analysts to discuss quarterly earnings.
An opponent of the Dakota Access oil pipeline is seen through concertina wire while snowmobiling toward the protest camp near Cannon BallThe chief executive of Phillips 66 said on Friday he expects the Dakota Access Pipeline to start operations in the second quarter, even though the project - which has sparked protests by Native Americans and environmentalists - is still in the midst of legal battles and a U.S. regulatory review. Phillips 66 has a 25 percent stake in the $3.8 billion project led by Energy Transfer Partners LP. Phillips 66's CEO, Greg Garland, made the comments on a conference call with analysts to discuss quarterly earnings.
FILE PHOTO: U.S. dollar notes are seen in this picture illustrationStock investors could have at least one less worry in the next earnings period: the suddenly limp U.S. dollar. The greenback, whose strong rally after the Nov. 8 U.S. election hit profits at many U.S. multinationals in the fourth quarter, has had a sharp reversal since the start of the year. Fourth-quarter results, even with the dollar's drag, are mostly beating Wall Street's expectations and helping provide a buffer to some of the uncertainties facing investors, including the new U.S. president's policies.
A petrol station is seen in SowetoJOHANNESBURG (Reuters) - South African petrochemicals group Sasol Ltd said on Thursday it expected H1 headline earnings to fall between 34 and 44 percent because of late year gains by the rand currency, strike at a coal mine and one-off items. [nJseZ0005a] * The company said headline earnings per share, which stripout certain one-off items and are the main profit gauge in SouthAfrica, could fall to as much as 13.60 rand from 24.28 rand inthe same period in 2015. * "Although the average rand/US dollar exchange rateweakened by 3 percent to 13. ...