Goldman Sachs Group Inc missed Wall Street estimates for quarterly profit on Tuesday as global economic worries dampened appetite for deals, while it faced up to losses on its own high-profile investments in Uber Technologies and WeWork.
Wells Fargo & Co missed third-quarter profit estimates on Tuesday as mortgage income sank and the fourth-largest U.S. bank by assets braced for additional legal expenses tied to a sales practices scandal that erupted more than three years ago.
JPMorgan Chase & Co kicked off bank earnings on Tuesday by beating Wall Street estimates for quarterly profit by a wide margin, a signal that the U.S. consumer remains strong, executives at the largest U.S. bank said.
Experience in overhauling a company and a track record in industry will be more important than nationality when carmaker Renault chooses a new chief executive, France's junior economy minister said on Tuesday.
Goldman Sachs Group Inc missed Wall Street estimates for quarterly profit on Tuesday as it took heavy losses from high-profile investments in WeWork and Uber Technologies and faced up to a weakening global economy.
Alphabet Inc's Google unveiled new Pixel smartphones with higher quality cameras, a radar sensor and faster virtual assistant on Tuesday, but failed to provide enough to set the devices apart from rivals and nix concerns about price.
Stocks in Europe and on Wall Street jumped more than 1% on Tuesday on strong U.S. corporate results and a possible deal to avoid a disorderly British exit from the European Union, while oil prices fell as weak China data kindled global economy fears.
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Wall Street gained 1% on Tuesday as strong earnings from JPMorgan, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on corporate America.
UnitedHealth Group Inc on Tuesday provided an optimistic outlook for 2020 profit, saying it expected growth to be at least 13%, which outpaces current Wall Street estimates and sent its shares up as much as 8.6%.
Amazon's cloud computing is like a "soft drug", a French minister said on Tuesday, warning that time was running out for Europe to wean itself off the U.S. company's services.
Quarterly results from four of the largest U.S. banks on Tuesday showed that American consumers are helping to prop up the economy, even as recession fears have led businesses to pull back on spending and borrowing.
Still, Goldman's WeWork writedown was smaller than the $264 million estimate of Morgan Stanley analyst Betsy Graseck.
People entering retirement will have to devise a smart strategy of how to spend their savings.
Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, Bloomberg reported on Tuesday.