Tesla promises return to profit after first-half losses
(Reuters) - Tesla Inc said on Wednesday it would return to profit in the third quarter of 2019 after racking up two consecutive losses in the first half of the year, as it struggled to deliver cars to customers and launched a cheaper version of its Model 3 sedan.
Facebook beats profit estimates, sets aside $3 billion for privacy penalty
(Reuters) - Facebook Inc on Wednesday blew away Wall Street profit estimates in the first quarter as it kept a lid on the costs of making its social networks safer, and set aside $3 billion to cover a settlement with U.S. regulators, calming investors who had worried about the outcome of a months-long federal probe.
Microsoft gets a boost from Windows as cloud stays on track
(Reuters) - Microsoft Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, powered by a surprise boost in Windows revenue and as growth in its cloud business stayed on track.
Boeing abandons outlook, takes $1 billion cost hit in MAX crisis
(Reuters) - Boeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybacks and said lowered production due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in five months had cost it at least $1 billion so far.
Occidental offers $38 billion for Anadarko, topping Chevron
HOUSTON (Reuters) - Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 billion offer by Chevron Corp.
Wall Street edges lower, energy stocks fall
NEW YORK (Reuters) - The S&P 500 slipped on Wednesday after ending the previous session with a record and the Nasdaq failed to hold all-time highs reached earlier in the day while investors waited for more earnings reports.
AT&T misses revenue estimates as pay-TV subscribers bleed away
(Reuters) - AT&T Inc's first-quarter revenue fell short of Wall Street estimates on Wednesday after it lost subscribers in nearly all of its main businesses except wireless, where it paid heavily to gain customers through price promotions.
U.S. Justice staff seek Goldman guilty plea in 1MDB settlement: FT
(Reuters) - A U.S. government settlement with Goldman Sachs Group Inc over its role in the 1MDB corruption scandal should include a guilty plea at the parent company level, U.S. Department of Justice staff have recommended, according to a Financial Times report on Wednesday.
Walmart creates Angus beef supply chain, cutting out meat processors
(Reuters) - Walmart Inc is taking control of the supply chain for Angus beef sold in some of its stores, cutting out meat processors as the company looks to offer higher quality products in an intensely competitive grocery industry.
Norwegian Air reschedules aircraft delivery, to cut 2019-20 capex by $2.1 billion
OSLO (Reuters) - Norwegian Air has agreed with Airbus and Boeing to reschedule delivery of aircraft to cut capital spending, the loss-making budget carrier said on Wednesday.