Business

Capital One customer data breach rattles investors

Capital One Financial Corp’s (COF.N) assurances that a major data breach would have a limited impact on customers or profit failed to convince investors on Tuesday, with the bank’s shares closing down 5.9%. Capital One said the prior day that 106 million people who had applied for credit cards in the United States and Canada […]

Business

Airbus second-quarter profit rise beats forecasts, delivery challenges ahead

Airbus on Wednesday posted stronger-than-expected core second-quarter earnings, led by the switch to efficient new single-aisle jets, and maintained its profit forecast for the year while warning of delivery challenges in the second half. Europe’s largest aerospace group said second-quarter adjusted operating profit rose 72% to 1.98 billion euros ($2.2 billion), led by a more-than-twofold […]

Business

Samsung says Japanese curbs cloud outlook as profit halves, shares fall

Samsung Electronics (005930.KS) warned on Wednesday that Japanese curbs on the export of chip-making materials was blurring its outlook and said it would delay a plan to return money to shareholders due to “significant new challenges.” The South Korean tech giant also posted a 56% plunge in June-quarter profit as an oversupply of memory chips […]

Business

With Fed sure to cut rates, Powell on hook to flag next steps

The U.S. Federal Reserve is almost certain to cut interest rates for the first time in more than a decade on Wednesday, delivering a mild jolt to an economy that is facing headwinds from trade disputes and a global slowdown. The widely expected quarter-percentage-point lowering of borrowing costs, however, is unlikely to assuage U.S. President […]

Business

Apple’s services, wearables shore up results as iPhone drops below half of sales

Apple Inc (AAPL.O) iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook on Tuesday described the change as successfully diversifying away from a single product and forecast results above Wall Street targets. That strategy proved especially useful in China, the world’s largest smartphone […]