Business News

Merger talk dominates US as global stocks tread water

  • NEW YORK, Oct 22 (APP/AFP): Megamerger buzz returned to Wall Street Friday as global stocks treaded water, while shares of Time Warner and Reynolds American both surged on news of possible takeover deals. The takeover talk came as investors mulled the European Central Bank’s reticence Thursday about future monetary stimulus moves, with equity markets in […]

  • AT&T in advanced talks to buy Time Warner: banking source

    NEW YORK, Oct 22 (APP/AFP): Telecom giant AT&T is in advanced talks to acquire entertainment group Time Warner, a banking source familiar with the negotiations said Friday. A deal could be announced as soon as Monday, the source told AFP, confirming a report in the Wall Street Journal. Time Warner’s assets include the networks CNN […]

  • SBP injects Rs 957 bln into market

    KARACHI, Oct 21 (APP): State Bank of Pakistan on Friday injected Rs 957 billion in money market. The bank has injected the amount for seven days through its open market operation, says SBP statement here.

  • General Electric profit falls 20% on weak oil earnings

    NEW YORK, Oct 21, (APP/AFP) – Sluggish activity in oil and gas weighed on General Electric’s third-quarter results Friday, offsetting strength in other businesses and pushing profits lower. Net income for the industrial conglomerate fell 20.4 percent to $2.0 billion. The company said it faced a “slow growth, volatile environment.”

  • Weak truck demand saps Daimler’s confidence for 2016

    FRANKFURT, Oct 21, (APP/AFP) – German carmaker Daimler on Friday lowered forecasts for 2016 despite a strong third quarter, with lower truck sales countering growing demand for its flagship Mercedes-Benz cars. The firm’s net profits grew by almost 13.0 percent between July and September compared with the same period in 2015, hitting 2.7 billion euros […]

  • European stocks claw higher at open

    LONDON, Oct 21, (APP/AFP) – European stocks firmed in Friday’s opening deals, with Frankfurt, London and Paris each adding 0.1 percent, buoyed by takeover activity in the tobacco sector. In initial trade, London’s benchmark FTSE 100 index gained ground to stand at 7,036.23 points compared with Thursday’s closing level. In the eurozone, Frankfurt’s DAX 30 […]