Month: April 2018

Boeing is shopping for its next acquisition, aiming to build its robust business of souping up airplanes. CEO Dennis Muilenburg told CNBC’s Phill LeBeau that growing the services unit is “a top priority” as the aerospace giant tries to “find strategic acquisitions that complement our organic investment in services.” “We’re also looking for targeted vertical
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Damaging revelations of misconduct at Australia’s largest listed money manager, AMP, may take years to fix, according to Morningstar. “It’s going to be a rough, rocky ride for the next six months, twelve months, probably even longer for investors in AMP,” Morningstar Analyst David Ellis told CNBC’s “Street Signs.” Catherine Brenner resigned Monday from her
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Blue Origin has launched its New Shepard rocket Sunday from its facility near Van Horn, Texas in the company’s first flight of 2018. The vehicle — named after the first American in space, Alan Shepard — launches vertically from the West Texas facility. Founder Jeff Bezos, who invests $1 billion each year into Blue Origin
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China’s securities regulator has released new guidelines for foreign investment in Chinese security joint ventures in which it eased some restrictions and launched an application process for more foreign ownership. The consultation period for the new rules that began in March is now over and the final regulations have been officially released for immediate implementation,
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DENVER — Twenty years after California first legalized marijuana use for sick people, “medical marijuana” has become a billion-dollar business so cloaked in emotion that it would be virtually impossible to dismantle. Without any real national discussion, most Americans now live where it’s possible to get pot for pain, nausea or other ailments. Thirty states already
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Russian sanctions-hit businessman Oleg Deripaska has agreed in principle to reduce his stake in Russia’s En+ Group, which manages his aluminum and hydropower assets, to less than 50 percent, the company said in a statement on Friday. Washington imposed sweeping sanctions on some of Russia’s biggest companies and businessmen on April 6, striking at allies
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Shares of Expedia took off Friday after the company reported better-than-expected quarterly sales and a sharp increase in booking volume. The online travel agent’s stock rose 9 percent, trading at $115.87. The company reported a 15 percent year-over-year increase in first-quarter bookings, boosted by its HomeAway, Expedia and Hotels.com brands. Expedia’s revenue also popped 15
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U.S. wireless carriers T-Mobile and Sprint have made progress in negotiating merger terms and are aiming to successfully complete deal talks as early as next week, people familiar with the matter said on Thursday. T-Mobile majority-owner Deutsche Telekom and Japan’s SoftBank, which controls Sprint, are considering an agreement that would dictate how they exercise voting
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Square announced an agreement on Thursday to buy website-building company Weebly for $365 million. The cash-and-stock deal will allow small business customers to use both Weebly and Square to easily build websites and online stores, the companies said. Weebly is a website-building service, similar to Squarespace or WordPress, and was backed by Sequoia, Tencent and
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United Parcel Service reported higher first-quarter net profit on Thursday, driven by strong package volumes in its core U.S. domestic segment, but higher costs from Saturday delivery and nasty winter weather weighed on operating results. The world’s largest package delivery company, viewed as an indicator of economic strength, reported revenue increased 10 percent to $17.1
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