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Betterment faces questions from regulator after launching checking and savings accounts

Betterment is answering questions from one of its regulators after launching a bank-like deposit product.

4 years ago

Tesla falls short on revenue, margins in second-quarter, shares tumble 11%

Tesla Inc on Wednesday posted a steeper-than-expected loss in its second quarter as profit margins on its vehicles narrowed, saying it still aimed for profit in the current quarter even as growth and cash took priority.



4 years ago

Facebook revenue beats estimates, discloses U.S. FTC antitrust probe

Facebook Inc beat analysts' estimates for revenue on Wednesday for a second straight quarter, but even as it agreed to pay $5 billion to settle a data privacy probe the company disclosed that it faces a new U.S. government antitrust investigation.



4 years ago

Explainer: What Google, Facebook could face in U.S. antitrust probe

The U.S. Department of Justice is investigating whether big technology companies are engaged in anticompetitive behavior, addressing a rising tide of criticism they have become too powerful to the detriment of consumers.



4 years ago

Treasury's Mnuchin says Amazon 'destroyed' U.S. retail sector

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that online giant Amazon.com Inc "destroyed the retail industry across the United States."



4 years ago

Ryanair Portuguese cabin crew to strike in August: union

Ryanair cabin crew in Portugal are set to strike for five days in August in a dispute over pay and conditions, the SNPVAC union said on Wednesday.



4 years ago

Facebook to pay record $5 billion U.S. fine over privacy; faces antitrust probe

Facebook Inc will pay a record-breaking $5 billion fine to resolve a government probe into its privacy practices and will boost safeguards on user data, the U.S. Federal Trade Commission and the social media company said on Wednesday.



4 years ago

Tesla posts wider-than-expected loss in quarter as margins fall, shares down 10%

Tesla Inc on Wednesday missed financial targets in its second quarter despite record deliveries of its electric vehicles, adding that the carmaker will break even, rather than post a profit, this quarter.



4 years ago

Facebook warns of costly privacy changes, discloses another U.S. probe

Facebook Inc said on Wednesday that new data privacy rules and forthcoming privacy-focused product changes would slow its revenue growth and significantly raise expenses, driving down its shares in after-hours trade even as quarterly revenue topped estimates.



4 years ago

J.C. Penney tie-up favorable for Sephora business: LVMH

U.S. sales at beauty retailer Sephora picked up in the second quarter after a sluggish end to 2018, its parent LVMH said on Wednesday, citing its continued tie-up with U.S. department store J.C. Penney .



4 years ago

Ford results dented by restructuring, gives weaker-than-expected forecast

Ford Motor Co on Wednesday reported a lower-than-expected profit, weighed down by charges to restructure its units in Europe and South America, and the automaker gave a full-year earnings forecast that fell short of analysts' expectations.



4 years ago

To survive trade war, some U.S. importers embark on major revamps of product lines

When U.S President Donald Trump tweeted in May his intention to raise tariffs on Chinese goods, management at California-based NewAir Appliances knew they needed to do something or their business would be in trouble.



4 years ago

Xilinx resumes some Huawei sales, but lower forecast sends shares down

Xilinx Inc said it had resumed some sales to Huawei Technologies Co Ltd but forecast current-quarter revenue below Wall Street estimates on Wednesday, citing the impact of U.S. restrictions on selling to the Chinese telecommunications firm.



4 years ago

Tesla target for profit pushed back to fourth-quarter, shares down 11.5%

Tesla Inc on Wednesday missed financial targets in its second quarter despite record deliveries of its electric vehicles, adding that the carmaker will break even this quarter, rather than post a profit.



4 years ago

Tesla needs more time to turn profit; founding engineer steps down

Tesla Inc on Wednesday pushed back its profit timeline once again after missing financial targets in the second quarter, while announcing that the pioneer of the company's electric batteries, J.B. Straubel, was stepping down from his role as chief technology officer.



4 years ago