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 Latest Business and Finance News
UBS and Credit Suisse could combine investment banks -investor [Reuters]
ZURICH (Reuters) - (In last paragraph, corrects to show Knight Vinke's stake is below the discl ...Detail
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Samsung regains lead over Apple in smartphone market  [ARY News] 29 Apr, 2015
WASHINGTON: Samsung retook the lead in the global smartphone market in the first quarter, as gains in emerging market sales helped it overtake Apple, a research group said Wednesday.
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KSE 100-Index ends lower; rupee firm  [ARY News] 29 Apr, 2015
KARACHI: Karachi Stock Exchange (KSE) closed lower on Wednesday as investors consolidated their positions and volumes declined, brokers said.
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Bank Islami plans to buy KASB Bank for nominal fee  [ARY News] 29 Apr, 2015
KARACHI: Bank Islami Pakistan, the country’s second-largest full-fledged Islamic bank, said it would submit plans on Wednesday to buy troubled lender KASB Bank Ltd for a nominal fee.
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Kraft Foods quarterly profit falls 16 percent, but tops expectations  [Reuters] 28 Apr, 2015
(Reuters) - Kraft Foods Group Inc , which is merging with ketchup maker H.J. Heinz Co [HJHC.UL], on Wednesday reported profit that topped analyst estimates, driven by reduced advertising spending and overhead.
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Detroit automakers rely on U.S. truck sales for global profits  [Reuters] 28 Apr, 2015
DETROIT (Reuters) - Detroit automakers have come full circle, relying as they did before the financial crisis on profits from selling trucks and sport utility vehicles in the United States to cover losses overseas.
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Kraft Foods quarterly profit falls 16 percent  [Reuters] 28 Apr, 2015
(Reuters) - Kraft Foods Group Inc , which is merging with ketchup maker H.J. Heinz Co, reported its fourth straight decline in quarterly profit, hurt in part by low demand for its meals and desserts.
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Wearable camera maker GoPro's revenue jumps 54 percent  [Reuters] 28 Apr, 2015
(Reuters) - Wearable camera maker GoPro Inc reported a 54 percent rise in quarterly revenue as its sales surged outside of the United States.
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Twitter cuts revenue forecast, shares slump  [Reuters] 28 Apr, 2015
(Reuters) - Twitter Inc cut its full-year revenue forecast due to weak demand for its direct response products, sending its shares down as much as 24 percent on Tuesday.
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Promotion of agriculture govt’s top priority: finance minister  [Geo TV] 28 Apr, 2015
ISLAMABAD: Finance Minister Ishaq Dar said on Tuesday that the government is giving top priority to promote the ag
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Dow, S&P 500 end higher; Nasdaq down with Apple  [Reuters] 28 Apr, 2015
NEW YORK (Reuters) - The Dow and S&P 500 ended a volatile session higher on Tuesday, helped by strong earnings from Merck and gains in IBM after it boosted its dividend, while the Nasdaq fell with Apple.
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Twitter reports lower-than-expected quarterly revenue  [Reuters] 28 Apr, 2015
(Reuters) - Micro-blogging website operator Twitter Inc reported quarterly revenue below Wall Street expectations, hurt by weak monthly user growth.
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Wall Street edges up with Merck, IBM; Nasdaq slips with Apple  [Reuters] 28 Apr, 2015
(Reuters) - The Dow and S&P 500 inched higher on Tuesday afternoon, helped by strong earnings from Merck and gains in IBM after it boosted its dividend.
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Selerity reveals Twitter results ahead of schedule  [Reuters] 28 Apr, 2015
(Reuters) - Micro-blogging website Twitter Inc had lower-than-expected quarterly revenue, according to market data firm Selerity, which revealed the earnings numbers before the company's scheduled announcement.
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Goldman sees $1 trillion lift in 2015 via U.S. stock buybacks, dividends  [Reuters] 28 Apr, 2015
NEW YORK (Reuters) - Investors will rake in more than $1 trillion in 2015 as U.S. companies increase stock buybacks and boost dividends, Goldman Sachs Group Inc said, with benefits coming soon as many S&P 500 companies exit a ...
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Wall Street moves higher after erratic early trading  [Reuters] 28 Apr, 2015
(Reuters) - U.S. stocks held on to their gains in early afternoon trading on Tuesday, reversing earlier declines, on strong earnings from Merck, better-than-expected housing data and a dividend hike from IBM.
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U.S. auto safety regulator poised for action on Takata, Jeep recalls  [Reuters] 28 Apr, 2015
WASHINGTON (Reuters) - The National Highway Traffic Safety Administration expects to be ready to take action within two weeks to reduce the safety risks associated with gas tank fires in older Fiat Chrysler Jeep sport utility vehi ...
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Citigroup leaders win shareholder support as stock lags  [Reuters] 28 Apr, 2015
NEW YORK (Reuters) - Citigroup Inc shareholders re-elected directors and overwhelmingly sided with the board on proposals at their annual meeting on Tuesday even as their stock traded for less than the company thinks it is worth. ...
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Apple's blockbuster quarter eases doubts about growth  [Reuters] 28 Apr, 2015
(Reuters) - Apple Inc's blowout second quarter, coming after record iPhone sales in the holiday shopping season, laid to rest doubts that the company could sustain its scorching pace of growth.
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Deutsche Bank co-CEO Fitschen goes on trial in Kirch case  [Reuters] 28 Apr, 2015
MUNICH (Reuters) - Deutsche Bank co-CEO Juergen Fitschen went on trial on Tuesday accused of giving misleading evidence in connection with the 2002 collapse of the Kirch media empire, a case that could prove a distraction for the ...
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Wall Street reverses course to trade higher  [Reuters] 28 Apr, 2015
(Reuters) - U.S. stocks edged up in volatile trading on Tuesday, reversing earlier declines, on strong earnings from Merck, better-than-expected housing data and a dividend hike from IBM.
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Tyson Foods to end use of human antibiotics in U.S. chickens by 2017  [Reuters] 28 Apr, 2015
CHICAGO (Reuters) - Tyson Foods Inc , the largest U.S. poultry producer, plans to eliminate use of human antibiotics in its chicken flocks by September 2017, one of the most aggressive timetables yet set by an American poultry com ...
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CM for arrest of JUI-F leader's assassin  [Business Recorder] 28 Apr, 2015
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah has directed the IG Sindh Police to ensure the arrest of remaining accused in the murder case of JUI-F leader Dr. Khalid Mehmood Soomro, and also provide security to his son, Maulan ...
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Zardari asks Sindh govt to complete uplift works in time  [Business Recorder] 28 Apr, 2015
KARACHI: Former President and Co-chairman Pakistan People Party Asif Zardari has directed the Sindh government to improve municipal, health services and education standard in the province."I want to see a clean, healthy and w ...
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SC dismisses petition against PML-N MNA  [Business Recorder] 28 Apr, 2015
ISLAMABAD: The Supreme Court on Tuesday rejected the appeal, seeking Pakistan Muslim Nawaz (PML-N) Member National Assembly (MNA) Malik Abrar's disqualification. The three-member, bench headed by Justice Saqib Nisar heard ...
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CM lauds police for foiling terrorist attempt  [Business Recorder] 28 Apr, 2015
LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif lauded the police for foiling terrorist attempt and said that officers and Jawans who took timely action and perform duty with commitment will be fully encouraged.Punjab Chief ...
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Icahn says Apple still undervalued  [Reuters] 28 Apr, 2015
(Reuters) - Apple Inc remains undervalued and misunderstood, activist investor Carl Icahn tweeted, even as the company posted stellar quarterly results on Monday.
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Tsipras presses for May debt deal, threatens referendum  [Reuters] 28 Apr, 2015
ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras said on Tuesday he was confident of an outline deal with international creditors within two weeks, after shaking up his negotiating team and sidelining his finance minister wh ...
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Talks on EU-U.S. trade deal to stretch into 2016: EU says  [Reuters] 28 Apr, 2015
BERLIN (Reuters) - Talks between the European Union and United States on a transatlantic trade accord will stretch into 2016, the EU's chief negotiator said on Tuesday, adding that the discussions were about to enter a "more ...
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Ford first-quarter profit misses expectations, 2015 profit outlook affirmed  [Reuters] 28 Apr, 2015
DEARBORN, Mich. (Reuters) - Ford Motor Co reported a first-quarter profit that was less than analysts expected, selling fewer vehicles in North America as it worked to increase production of the redesigned F-150 pickup truck, and ...
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U.S. consumer confidence sinks in April  [Reuters] 28 Apr, 2015
NEW YORK (Reuters) - U.S. consumer confidence unexpectedly slumped in April, according to a private sector report released on Tuesday.
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