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WeWork's new chairman defends payouts to founder, says company will survive

WeWork's new Executive Chairman Marcelo Claure on Wednesday defended huge payouts to the office-sharing company's founder Adam Neumann and said there is now "zero risk of the company going bankrupt," according to an audio recording of a meeting he held with employees that was reviewed by Reuters.



4 years ago

U.S. FAA must restore 'public confidence' in plane certification -inspector general

The Federal Aviation Administration (FAA) must work to restore "public confidence" in aircraft certification efforts after two deadly Boeing 737 MAX crashes, the U.S. Transportation Department's inspector general said on Wednesday in a public report.



4 years ago

Google unveils quantum computer breakthrough; critics say wait a qubit

Alphabet Inc's Google said on Wednesday it had achieved a breakthrough in computing research by using a quantum computer to solve in minutes a complex problem that would take today's most powerful supercomputer thousands of years to crack.



4 years ago

Huawei exposure roils Xilinx's revenue forecast

Xilinx Inc on Wednesday forecast current-quarter and full-year revenue below Wall Street estimates, the second major chipmaker this week to flag the impact of a prolonged U.S.-China trade dispute on its business.



4 years ago

EBay forecasts holiday-quarter revenue below estimates, shares fall 3%

EBay Inc forecast current-quarter revenue below Wall Street estimates on Wednesday, as it faces fierce competition from bigger rivals Amazon.com and Walmart Inc in the run-up to the crucial holiday shopping season.



4 years ago

Slower growth in Microsoft cloud business casts shadow over results

Microsoft Corp's Azure cloud services grew more slowly in its first quarter even as profit and revenue beat estimates, the company said on Wednesday, a sign that competition is picking up in its fastest-growing business.



4 years ago

PayPal tops Wall Street estimates on higher customer traffic, shares rally

PayPal Holdings Inc reported a better-than-expected quarterly profit on Wednesday as more people used its payment processing platform to make transactions and forecast full-year adjusted profit above Wall Street estimates.



4 years ago

Ford's third-quarter profit falls, full-year profit outlook cut

Ford Motor Co on Wednesday posted a lower quarterly profit as it took charges for its global restructuring, and reduced its full-year operating profit forecast due to higher warranty and incentive costs, as well as lower-than-expected sales in China.



4 years ago

Tesla surprises with quarterly profit on record deliveries, shares up 21%

Tesla Inc on Wednesday surprised investors by posting a profitable third quarter, boosted by record deliveries, cost cuts and improved production schedules for its new electric vehicle model, causing shares to soar in after-market trading.



4 years ago

Forecast points to deepening Illinois budget deficit

Illinois' budget deficit will top $3 billion and its pile of overdue bills will hit a new record high by fiscal 2025 if the state's "unsustainable" tax structure remains in place, according to a five-year forecast released on Wednesday by the governor's budget office.



4 years ago

Johnson & Johnson says proposed opioid settlement to lower reported third-quarter profit by $3 billion

Johnson & Johnson on Wednesday lowered its previously reported profit for the third quarter to $1.8 billion from $4.8 billion to account for a proposed opioid settlement payment.



4 years ago

Spirit Airlines commits to 100 Airbus jets amid tariff dispute

U.S. budget carrier Spirit Airlines on Wednesday unveiled a provisional deal to order 100 Airbus A320neo-family jets to be delivered through 2027, becoming the first U.S. airline to pick European planes since Washington imposed tariffs on them.



4 years ago

U.S. trade envoy meets lawmakers on U.S.-Mexico-Canada deal as time runs short

U.S. Trade Representative Robert Lighthizer met this week with Democratic lawmakers to try to resolve their concerns about the U.S.-Mexico-Canada (USMCA) trade agreement as Republicans increased pressure to get the deal passed by the end of 2019.



4 years ago

Microsoft forecasts cloud sales above expectations

Microsoft Corp on Wednesday forecast sales for its cloud computing services that topped analysts' estimates, even as quarterly growth slows for its Azure business.



4 years ago

Tesla shares soar 21% as surprise profit answers skeptics

Tesla Inc on Wednesday surprised investors by posting a profitable third quarter, boosted by record deliveries, cost cuts and improved production schedules for its new electric vehicle model, causing shares to soar in after-market trading.



4 years ago